While parent companies MoviePass‘ quarterly (Helios and Matheson Analytics) report they announced that they will be adding several new features for the popular subscription service movie.
- The opportunity to visit premium screens (electronic.g 3D, IMAX) for a one time fee. Instead of increasing the cost of your monthly plan, it just need to pay when you visit one of these indicators.
- In addition to the family plan. Currently, all the selection using MoviePass needs its own phone, it makes it impossible for most families to watch a movie together, using all MoviePass (if young children have their own phone).
General Director of Helios & Matheson also stated that they will do large acquisitions, sometimes in Cannes. He also reported that MoviePass had access to $300 million line of credit and under the current pace that gives them 17 months without raising any additional capital (earlier media reported they are only $15.5 million in cash and $27.90 million on Deposit to burn $22 million per month). It is important to note that in the latest sec filing does not show this credit line as the business Insider notes.
The ability to see the premium screening is a feature that Sinemia competitor has offered since launch. When comparing plans Sinemia offer they basically charge an extra $3 a month to see one premium screening, so it will be interesting to see how much MoviePass surcharge for premium screenings. Sinemia offers Sinemia, which is not quite a family plan, but at least allows two people to see the same selection and requires only one phone. I personally don’t see how either service will survive in the long term. It seems that there are two main attempts of profitability should try and get a percentage of purchases concession (what movie is unlikely to want to give in) and selling the data they collect.
Hat tip MTM