Despite providing a remarkable value to regular moviegoers, speculation about the viability of the business model has prompted large short interest in the stock of MoviePass' parent company, Helios and Matheson Analytics Inc (NASDAQ: HMNY).
The tide is turning and the big theatres are starting to embrace the company, Helios and Matheson CEO Ted Farnsworth told Benzinga.
“100 percent our business is viable — we have studios and distributors paying us right now. What I saw from day one is that whoever controls the theatre really controls all the other revenues,” Farnsworth said.
"The bigger your movie is at the box office, the more money you're going to make on the ancillary businesses, and the theater drives all that revenue downstream —and we are at the top of the funnel.”
'We Will Be The Biggest Theater Company Without Owning Any Theaters'
With more than 2 million subscribers, MoviePass knows that the more it increases its subscriber numbers, the more influence it will have over the industry, making a partnership with the major theater chains inevitable.
MoviePass announced it is sponsoring to the Miami Film Festival later this month, as it prepares for an international launch in Europe …
The post Helios And Matheson CEO: MoviePass ‘Will Be The Biggest Theater Company Without Owning Any Theaters’ appeared first on MrTopStep.com.