MoviePass Inc., a firm that Helios and Matheson Analytics Inc (NASDAQ:HMNY) has agreed to acquire majority stake in, reported that it has surpassed more than 400,000 paying monthly subscribers in the preceding 30 days and recorded exceptional movie theater attendance. The viral subscriber growth comes on the back of the disruptive and innovative technology Helios & Matheson and MoviePass provide in combination with substantial interest for the new $9.95 a month subscription plan.
To assess the success of the MoviePass offering, 30,000 new MoviePass users were surveyed. They were thrilled to know that 75.3% asserted the single reason they went to the films was the outcome of being a MoviePass subscriber. In addition, participating theaters have stated back with bigger attendance by more than 400% from MoviePass users.
Eric Wold, an analyst at B. Riley & Co, expressed that he considers it’s positive for the market. The most evident opposition has been from AMC. The exhibitors he has spoken with are extremely delighted. In addition, MoviePass assignments that it will buy minimum 2.5 million additional paying users during the imminent twelve months, and anticipates to retain minimum 2.1 million of those additional paying users at the end of that period.
With the help of the Helios and Matheson resources, MoviePass analyzes consumer trends, activities and patterns to engage users with movie linked merchandise, concessions and advertising pertinent to their MoviePass experiences. The company considers its technology stack together with the MoviePass business setup will change the movie going experience and enhance great value for both firms.
Helios and Matheson’s know-how learns individual moviegoer’s tastes and gives recommendations grounded on recorded preferences for actors, specific genres and even the views of friends with similar likings. There presently is no end-to-end customer assessment from the moment someone views a movie advertisement on Facebook from the time they get seated at the movie theater.