NEW YORK--(BUSINESS WIRE)--
MoviePass Inc., the nation's premier movie-theater subscription service and a majority-owned subsidiary of Helios and Matheson Analytics Inc. (NASDAQ: HMNY), today announced that it has signed a media partnership with iHeartMedia, a leading multi-media company in America with a greater reach in the U.S. than any other media outlet. The new agreement includes an extensive marketing campaign across iHeartMedia’s multiplatform network including radio, digital, social and live events to help build further brand awareness of MoviePass™ and target new subscribers in select U.S. metro markets that have active movie-going audiences. In addition, iHeartMedia will be an authorized reseller of ad inventory across the MoviePass™ website and mobile app.
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MoviePass™ launched its current $9.95 per month subscription plan in August 2017, following a significant investment from HMNY. The investment has enabled MoviePass™ to advance its vision of bringing significant innovation to the movie theater industry and drive increased attendance to movie theaters and lower-budget films. Since the launch, movie theater attendance for participating exhibitors has increased more than 400 percent.
“We have the capability to build significant brand awareness for MoviePass through our unparalleled scale and reach of more than 270 million monthly listeners across the country and our multiplatform assets,” said Joe Robinson, President of iHeartMedia Ventures. “We see a unique opportunity with MoviePass, and its ability to understand and analyze audience trends and behavior which is a great asset for our advertisers, especially those looking to further engage with millions of movie-goers.”
“We expect that our partnership with iHeartMedia will fuel our continued growth by targeting more profitable subscribers in low-cost markets, while also opening up a new revenue stream with digital advertising,” said Mitch Lowe, CEO of MoviePass. “We also expect that this relationship will be beneficial to movie exhibitors because we hope to drive more traffic into theaters and to advertisers through our strong working intelligence on the preferences and behaviors of a substantial amount of movie-goers. Our subscribers are going to twice as many movies a month as other consumers and are buying one in every 50 movie tickets in the U.S.”
“The calculus is simple,” said Ted Farnsworth, Chairman/CEO of HMNY. “The better we understand audiences, the better the media, the movie industry, and the entertainment industry as a whole can deliver what audiences want. MoviePass’ partnership with iHeartMedia is good for advertisers that want to understand their audiences and it’s good for consumers who want to be served the right media from the right sources. We believe that partnerships like this will allow MoviePass’ innovative business model to continue its transformation of the movie industry.”
MoviePass Inc. (“MoviePass”) is a technology company dedicated to enhancing the exploration of cinema. As the nation's premier movie-theater subscription service, MoviePass provides film enthusiasts with a variety of subscription options to enhance their movie-going experience. The service, now accepted at more than 91% of theaters across the United States, is the nation's largest theater network. Visit: www.moviepass.com
With over a quarter of a billion monthly listeners in the U.S. and over 122 million social followers, iHeartMedia has the largest national reach of any radio or television outlet in America. As the leader in multiplatform connections, it also serves over 150 local markets through 858 owned radio stations, and the company’s radio stations and content can be heard on AM/FM, HD digital radio, satellite radio, on the Internet at iHeartRadio.com and on the company’s radio station websites, on the iHeartRadio mobile app, in enhanced auto dashes, on tablets, wearables and smartphones, and on gaming consoles.
iHeartRadio, iHeartMedia’s digital radio platform, is the fastest growing digital audio service in the U.S. and offers users thousands of live radio stations, personalized custom artist stations created by just one song or seed artist and the top podcasts and personalities. With over 1.4 billion downloads, iHeartRadio reached 100 million registered users faster than any other radio or digital music service.
iHeartMedia’s platforms include radio broadcasting, online, mobile, digital and social media, podcasts, personalities and influencers, live concerts and events, syndication, music research services and independent media representation. iHeartMedia is a division of iHeartMedia, Inc. (IHRT). Visit iHeartMedia.com for more company information.
Helios and Matheson Analytics Inc. (HMNY) is a provider of information technology services and solutions, offering a range of technology platforms focusing on big data, artificial intelligence, business intelligence, social listening, and consumer-centric technology. HMNY owns a majority interest in MoviePass Inc., the nation's premier movie-theater subscription service. HMNY’s holdings include RedZone Map™, a safety and navigation app for iOS and Android users, and a community-based ecosystem that features a socially empowered safety map app that enhances mobile GPS navigation using advanced proprietary technology. HMNY is headquartered in New York, NY and listed on the Nasdaq Capital Market under the symbol HMNY. For more information, visit us www.hmny.com.
Cautionary Statement on Forward-looking Information
Certain information in this communication contains “forward-looking statements” about HMNY and MoviePass within the meaning of the Private Securities Litigation Reform Act of 1995 or under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, “forward-looking statements”), that may not be based on historical fact, but instead relate to future events. Forward-looking statements are generally identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. Such forward-looking statements include, without limitation, statements regarding MoviePass’ business and prospects (including, without limitation, the potential benefits of MoviePass’ relationship with iHeartMedia as described herein). Statements regarding future events are based on the parties’ current expectations and are necessarily subject to associated risks. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.
Such forward-looking statements are based on a number of assumptions. Although management of HMNY and MoviePass believe that the assumptions made and expectations represented by such statements are reasonable, there can be no assurance that a forward-looking statement contained herein will prove to be accurate. Actual results and developments may differ materially and adversely from those expressed or implied by the forward-looking statements contained herein and even if such actual results and developments are realized or substantially realized, there can be no assurance that they will have the expected consequences or effects.
Risk factors and other material information concerning HMNY and MoviePass are described in HMNY’s Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC) on November 14, 2017, in HMNY’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, in HMNY’s Current Report on Form 8-K filed on November 30, 2017 and other HMNY filings, including subsequent current and periodic reports, information statements and registration statements filed with the SEC. You are cautioned to review such reports and other filings at www.sec.gov.
Given these risks, uncertainties and factors, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on HMNY’s and MoviePass’ current expectations and HMNY does not undertake an obligation to revise or update such forward-looking statements and information to reflect subsequent events or circumstances, except as required by law.