MoviePass Offers $10 A Month Subscription Service

Its nothing to figure out. Of course they're gonna lose money on that end. They're gonna sell data. They've only been doing this the way it's been going for a year. That's not enough data for a profit. The problem is that they're being managed poorly which is why they're in the trainwreck theyre in. Fact of the matter is they're gonna fire CEO dude and Mitch Lowe. Implement changes, and continue to borrow until data is to be sold and partnerships are made with theatres.
 
Mitch Lowe is the "CEO dude." They've also invested in movies that were complete losses and ultimately had to spend a ton to get their CS ramped up to be serviceable. My guess is they'll try to continue to show their power by blocking big blockbusters in hopes of getting some money from studios (like they're doing with MI), but if that fails you can kiss them goodbye.

Who knows though...maybe you have a better understanding of the situation since you know the CEO dude and Mitch Lowe are both getting fired.
 
I confused the CEOs. Farnsworth is the CEO of the parent company. He's involved in some other nonsense which is why I believe he could be let go.

I'm willing to bet almost anything if this doesn't turn around before the end of the year to early next year, Lowe is gone. He's the one who introduced the idea to drive down the price this low. I dont see how massive losses results in him staying.
 
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Just used e ticketing for mission impossible

Gonna try to get one movie a day as it don’t look like it will make to this weekend lol
 
rfx45 said:
i think they are afraid that increasing the price will get a huge surge of subscribers cancelling that it would hurt them more and become the final nail in the coffin

they have to approach it delicately and make sure a price increase comes with incentive like making 3d, imax, etc... available and remove peak pricing

it's hard to gauge how everyone will react, online you may just hear those who are willing to pay but majority of users aren't posting online and those are probably the majority subscribers

it's also easier for people to say they'll pay for it but when it is time to whip out the card and type in the numbers, they flake
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You stay kicking facts.
 
MoviePass CEO announces in all-hands meeting that tickets to big upcoming movies will not be available on the app
Jason Guerrasio
47m

5b2267911ae6621d008b5b18-750-375.jpg

"The Meg."
Warner Bros.
  • In an all-hands meeting on Monday, MoviePass CEO Mitch Lowe announced that the upcoming big releases "Christopher Robin" and "The Meg" would not be available to subscribers, a source familiar with the matter told Business Insider.
  • The implication was that the practice of not offering tickets to major releases would continue for the foreseeable future.

MoviePass subscribers were frustrated to find over the weekend that they couldn't order tickets through the app for the weekend's biggest release, "Mission: Impossible — Fallout," and it looks as if going forward they will continue to be shut out of major titles.

A source familiar with the matter told Business Insider that during an all-hands meeting on Monday, MoviePass CEO Mitch Lowe said the app would not make "Christopher Robin" and "The Meg" — the two major releases hitting theaters in the next two weeks — available to its subscribers, and he implied that the practice of not offering tickets to major movies would continue for the foreseeable future.

The company has fallen on incredibly hard times as it tries to find a financially feasible business model.

Last week, MoviePass' parent company, Helios and Matheson Analytics, did a reverse stock split that boosted shares to about $14 on Wednesday from $0.09 on Tuesday. The service temporarily shut down on Thursday night because it ran out of money, and HMNY said in a Securities and Exchange Commission filing on Friday that it had to borrow $5 million in cash to get it back online. Its stock closed at $2 on Friday.

Things didn't get any better going into the weekend as complaints on social media were rampant. "Mission: Impossible — Fallout" was blocked for subscribers, and the app had more technical issues again on Sunday.

Lowe's announcement at the all-hands meeting came on the heels of an open letter on Friday in which he said, "As we continue to evolve the service, certain movies may not always be available in every theater on our platform."

When reached for comment for this article, a MoviePass representative referred Business Insider to the CEO's statement in the Friday letter.

Because MoviePass has to pay the full ticket price for all the movies its subscribers go see, eliminating major releases going forward means the cash-strapped company would pay millions less. (As of mid-July, MoviePass paid more than 1.15 million tickets for just "Avengers: Infinity War.")

HMNY's stock closed below $1 on Monday.
 
tay1 said:
Its nothing to figure out. Of course they're gonna lose money on that end. They're gonna sell data. They've only been doing this the way it's been going for a year. That's not enough data for a profit. The problem is that they're being managed poorly which is why they're in the trainwreck theyre in. Fact of the matter is they're gonna fire CEO dude and Mitch Lowe. Implement changes, and continue to borrow until data is to be sold and partnerships are made with theatres.
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They should have gotten rid of him after the data incident and him not knowing how the company operated. That hurt the stock and caused some people to cancel.

Their first mistake was having him as the CEO. He seemed like he was over his head.
 
Magic33 said:
They should have gotten rid of him after the data incident and him not knowing how the company operated. That hurt the stock and caused some people to cancel.

Their first mistake was having him as the CEO. He seemed like he was over his head.
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Yeah he should've been out long ago. And with the **** they're pulling up there now with them not having certain major releases, he needs to be out asap. Dude clearly doesnt known how to run this and has ****** up what was a good thing.
 
I think it's too late to raise the price. They have been hemorrhaging money like crazy. They made too many mistakes and changes mid stream. They should have had it at $14.99 or $19.99 from the beginning. They might not have gotten 3 million subscribers, but they would have gotten a good amount.

This peak pricing is bull****. Because it's not even being done for new movies, it's being done for movies that have been out for weeks. They're talking about IMAX and 3D, ****, how much are they going to charge for that? $15?

nawghtyhare said:
i know the dudes who invested are HEATED
this was originally started by some black dudes right????
coulda sworn i seen it somewhere
they finessed a BAG :pimp:
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rfx45 said:
i dont know if they want to offer a 1yr prepay plan now, it'll be a catastrophe if they fold and have to return all of those money back

i believe the ceo that initiated the $10/month plan is white
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The CEO is white, but the original dudes who started it are black
 
I wonder if MP intended for these changes to make ppl quit.

Less subscribers would mean they're not spending as much.
 
|A-Man| said:
I wonder if MP intended for these changes to make ppl quit.

Less subscribers would mean they're not spending as much.
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I thought about that earlier. That's crazy enough to be a reason for this **** being so poorly ran. They probably want those who got the 1 year subscription the ***** out of here.
 
|A-Man| said:
I wonder if MP intended for these changes to make ppl quit.

Less subscribers would mean they're not spending as much.
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Combination

Probably some of the people who go a lot would quit, but also you paying the peak pricing is helping subsidize the amount they're paying the theater.

I just don't understand how sites had forecasted the date they were going to run out of money based on their numbers and usage, but MP seemed to have no idea. How do you wait until the last minute to borrow money? I had a feeling that one day I would go to the movies and try and swipe my card and it would get declined. I actually messed up checking in sometimes because I knew this day was coming.

Do they have an actual head quarters with departments where people people have different responsibilities or is Movie Pass run out of someones garage?
 
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