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Wait, MoviePass Wants To Get Into Making Movies?
MoviePass has already had a profound impact on the movie industry in the way it has changed the game for ticket sales. However, it now appears the company wants in on the other end of the process, making movies themselves. It's being reported that MoviePass parent company Helios and Matheson Analytics currently has the exclusive option to buy Emmett Furla Oasis Films.
Emmett Furla Oasis Films is the studio behind films like the Mark Wahlberg led Lone Survivor and Martin Scorsese's Silence. The deal, which has yet to actually be completed, would give Helios and Matheson Analytics ownership of EFO's film library as well as its current production slate. The goal, according to Variety, is for Helios and Matheson to use this as a way to launch its own production company. EFO Films founders Randall Emmett and George Furla would act as co-CEO's of the new studio.
MoviePass has been a rollercoaster ride over the last several months. After initially dropping the price of its movie ticket subscription service to only $9.95 a month, the company saw it's subscriber base increase by an order of magnitude. It became one of the biggest names in the industry. However, the reduced price raised questions about MoviePass' ability to turn a profit, and recently investors have clearly been concerned about the company, as the stock value of Helios and Matheson has dropped significantly in recent weeks.
Purchasing EFO Films wouldn't be MoviePass' first foray into that side of the industry. The company is already working on the distribution of two movies in June, American Animals and the organized crime biopic Gotti with John Travolta in the lead role. Gotti was produced by EFO, which appears to be where the two companies began talking.
Clearly, this move shows that MoviePass has big plans for its own future beyond being a simple subscription service for movie theater tickets. It has its eye on the entire industry. Between movie production on one end and ticket sales on the other MoviePass would be part of the beginning and the end of a film's entire lifespan. This is a pretty drastic shift. Helios and Matheson Analytics is primarily a data company and while owning MoviePass makes sense in that regard, being part of a movie studio makes it look like the parent company might be making a shift in focus.
It will be interesting to see how the rest of the industry responds to this deal if it goes through. MoviePass has had an ongoing feud of sorts with AMC Theaters ever since the price of the service dropped. One has to wonder if other studios will take an equally dim view of the company getting involved in the production side. The other question is whether this acquisition will instill confidence in the company enough to cause the stock price to rebound.
The movie ticket subscription service wants to get in on the money when MoviePass Has a Crazy Idea to Make Money but it's not clear what sort of money that might turn into for MoviePass.
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Wait, MoviePass Wants To Get Into Making Movies?
MoviePass gives you access to new movies in theaters nationwide for a low monthly fee. MoviePass gives you access to new movies in theaters nationwide for a low
MoviePass has already had a profound impact on the movie industry in the way it has changed the game for ticket sales. However, it now appears the company wants in on the other end of the process.
MoviePass Wants to Let You See Movies For Next to - WIRED
But if MoviePass wants to survive, it also needs to start losing less money on its subscribers, and fast. That's where peak pricing comes in. "Peak Pricing goes into effect when there's high demand for a movie or showtime," MoviePass wrote in its email. "You may be asked to pay a small additional fee depending on the level of demand."
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According to a post from Bloomberg Inc., movie theater companies are in a rush to take consumers off of their couches and back into theaters.MoviePass has been a bit of help to this dilemma at
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The average movie ticket costs $8.95. In major metropolitan areas, you can easily spend twice that. So the economics behind subscription service MoviePass's new plan—$10 per month, for as many
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Lowe told Screen Junkies that data mining is a big part of MoviePass's business because it will "help the studios know who wants to watch a particular film… the worst part about making movies is
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One movie per day, and one use of movie pass per movie. You can see Iron Man III next summer a total of one time using Movie Pass. Gee. What a fantastic offer. Sure, for big box office hits like Iron Man III, you'll probably be able to just moviepass another movie, and sneak into whatever showing you want. But if you want to go see some indie
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Update by Jeff: This article was written after I tested MoviePass for 5 months in 2012-2013. Since then, the core service hasn't changed a ton, though it was reduced to $15 and 2 movies a month
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MoviePass charges $9.95 a month for unlimited movies, and thinks it has hit the right formula to get millennials into art house theaters where Gen Xers and Baby Boomers regularly fill the seats.
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