MoviePass Surpasses 600,000 Subscriptions

MoviePass Surpasses 600,000 Subscriptions

Excerpts from an article by Elizabeth Balboa on Benzinga

MoviePass, in which Helios and Matheson recently agreed to buy a majority stake, surpassed 600,000 paying monthly subscribers last week against mid-August figures of 20,000. The increase is a boon to the trending Helios and Matheson as it begins analysis of MoviePass data to identify trends in the film-exhibition industry.

“More subscribers mean more data,” Helios and Matheson CEO Ted Farnsworth said in a press release. “Together, I believe HMNY and MoviePass can offer important analytics to movie studios and exhibitors while serving the interests of moviegoers in the process.”

The accelerated growth exceeded initial projections and coincided with a decline in churn rate. MoviePass saw 4.2-percent churn in the first month after introducing the new pricing model and 2.4 percent in the second. The rates reflect 96-percent monthly retention and a nearly four-year average subscriber “life expectancy.”

Read the full article on Benzinga

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