15 and drifted down to a 2.63 close several weeks later when it announced hitting 400,000 subscribers. In June, Farnsworth and Lowe settled with the FTC and reached a $400,000 settlement with the California district attorneys. The stock - which went from 2.79 to 2.95 the day the new price was announced on Aug. At the time of MoviePass' bankruptcy filing, it said it was under pending investigations by the Federal Trade Commission, the Securities and Exchange Commission, four California district attorneys, and New York's attorney general. Helios and Matheson was delisted from the Nasdaq in 2019, and both MoviePass and Helios and Matheson filed for bankruptcy protection in 2020. During the Farnsworth and Lowe era, MoviePass blew through hundreds of millions of dollars, and Spikes - who said he'd raised concerns internally about the low price point - was fired in 2018. In less than a year, MoviePass garnered over 3 million subscribers and had become a cultural sensation.īut the price was financially unsustainable. MoviePass is teaming up with Clear Channel for a 29.95 plan that includes a three-month trial of iHeart Radios All Access streaming music service and three months of a limited MoviePass membership. Within two days, subscriptions went from about 20,000 to about 100,000. AMC Follow your favorite stocks CREATE FREE ACCOUNT Source: MoviePass MoviePass, the movie theater ticket service that skyrocketed to popularity in 2017 and spiraled into bankruptcy. That was just after MoviePass announced it was cutting its price to 10 per month. Under the leadership of Helios and Matheson CEO Ted Farnsworth and new MoviePass CEO Mitch Lowe, the company launched a $10-a-month subscription price to see a movie a day. Its stock has fallen 99 to as low as 17 cents per share from nearly 39 last October. MoviePass common stock and as of the date of this prospectus supplement. The launch could lead to an increase in attendance and increased revenue for operators. Our common stock trades on the Nasdaq Capital Market under the symbol HMNY. CNNMoney (New York) First published July 24, 2018: 12:48. Download royalty-free stock photos, vectors, HD footage and. Account icon An icon in the shape of a person's head and shoulders. The rebirth of MoviePass could be a positive and a negative for movie theater stocks. MoviePass also recently introduced surge pricing, which triggers an added cost for a particular showing whenever there is a lot of demand. Search from thousands of royalty-free Movie Pass stock images and video for your next project.
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