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MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

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MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Old 07-24-18, 07:27 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

I had used Movie Pass without any problems until Sunday, when I tried to use it to see The Equalizer 2. The showing I selected was at peak pricing, and I accepted the additional $4 charge in the app. It allowed me to check in, then when I swiped the card to pay, the card was declined. What the fuck? Went to the window with an employee, still declined. Makes no sense, as I paid the annual rate months ago.
Old 07-24-18, 07:34 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Originally Posted by Osiris3657 View Post
I had used Movie Pass without any problems until Sunday, when I tried to use it to see The Equalizer 2. The showing I selected was at peak pricing, and I accepted the additional $4 charge in the app. It allowed me to check in, then when I swiped the card to pay, the card was declined. What the fuck? Went to the window with an employee, still declined. Makes no sense, as I paid the annual rate months ago.
So you paid a $4 charge and didn't see the movie or had to pay out of pocket?
Old 07-24-18, 08:08 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Yeah, there's an additional problem there, if you're on the annual plan you shouldn't have to pay an additional charge for peak pricing...
Old 07-24-18, 08:29 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Originally Posted by fujishig View Post
Yeah, there's an additional problem there, if you're on the annual plan you shouldn't have to pay an additional charge for peak pricing...
Yeah, MoviePass can't start charging you extra for peak pricing until your annual agreement has expired. Are you sure you aren't paying month-to-month Osiris?
Old 07-24-18, 10:00 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Originally Posted by dex14 View Post
So you paid a $4 charge and didn't see the movie or had to pay out of pocket?
Well I accepted the fee on the app, then it said you have 30 min to check in blah blah. Haven't actually checked to see if I was charged. But yes, I just paid with my debit card (the card that is actually used for MP billing) after the MP card was declined.
Old 07-24-18, 10:51 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

I'm on the annual plan paid through November and went to movies the past two weekends and never saw any notice about surge pricing.
Old 07-24-18, 04:35 PM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Closed at 8 cents ... and then there is this: going for the full 1:250 ...

MoviePass parent Helios and Matheson Analytics Inc. HMNY-13.09% will be implementing a 1-for-250 reverse stock split at market close on Tuesday, the company announced.


http://www.marketwatch.com/amp/story...7-D379F65CB6E5
Old 07-24-18, 10:25 PM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

https://markets.businessinsider.com/...8-7-1027393530

'It is a full blown war going on': The CEO of MoviePass' parent company wants to use its subscribers as an army against traditional theaters (HMNY)
Graham Rapier
Jul. 24, 2018, 07:36 AM


MoviePass’ war against traditional movie theaters is still in its infancy, the chief executive of its parent company, Helios & Matheson, told a specially-convened group of roughly 30 shareholders on Monday.
From the 67th floor of New York's iconic Empire State Building, CEO Ted Farnsworth declared to a packed conference room of investors that MoviePass, the subscription service of which his company owns a 92% stake, plans to use its enthusiastic subscriber base as an infantry in its fight against major Hollywood theatre chains.

"Make no bones about it, it is a full blow war going on, especially with AMC," Farnsworth told the room of investors, who were largely optimistic, despite shares plunging more than 99% from their October highs.

"The theaters don't like us because we're too powerful too quick," he said. "We know with all the independent research that's out there, if we ask somebody to go to a Regal instead of an AMC, 50% of the time they'll go to Regal. They realize that at the end of the day we're gaining all this power with the consumer base. That was always the play, having leverage over the theaters."

Still, MoviePass and its owner HMNY have a long way to go before they can declare victory. Last month, the company received notice from Nasdaq that it would be delisted if it fails to maintain a stock price above $1 and a minimum market cap of $50 million, per the stock exchange's requirements.

Shortly after, it called the special meeting with two proposals designed to help its struggling shares.
Stockholders approved both measures at the meeting on Monday. The first allows the company to issue 4.5 billion new shares of stock, increasing the total number of shares outstanding to 5 billion from 500 million. The second gives the company the ability to perform a so-called reverse stock split. Management can now increase the stock's price by consolidating shares by a ratio of between 2-for-1 to 250-for-1, at its discretion. Executives did not say when or by how much they would utilize each of their new options.

Despite the approvals, some investors weren't happy with the company's response to the stock's drastic fall from a high of $38.52 last year.

"As the stock price has plummeted, I’ve been concerned about the lack of communication from the company explaining what’s going on or assuring investors," one shareholder told Farnsworth and other executives. "There’s never been any sort of formal communication to the shareholders explaining what you think is going on, what the problem is with the stock going down so much, and what steps you’re going to take to fight that battle."

Other investors voiced concerns that their holdings would only be diluted further by the potential stock offerings.

"Nobody gets diluted more than I do during all this dilution," Farnsworth, who owns 2.14% of the company, said. "We are obviously in a place where this company has grown so quick so fast that it continues to need money, especially for MoviePass."

Farnsworth also addressed concerns that MoviePass may never become profitable, saying the company is on track to post a profit when it hits 5 million subscribers, though he did not provide an update on current subscriber numbers.

"What people really don't realize, is it's not about making money on the subscribers," he continued, touting investments by MoviePass in movies like Gotti and American Animals, both of which have posted solid box-office numbers since their release.

"It's a fastest-growing paid subscription ever in the history of the internet — period," Farnsworth said. "So you're not going to go through that without headaches."


I'd just like to call attention to a few of those last parts:

Farnsworth also addressed concerns that MoviePass may never become profitable, saying the company is on track to post a profit when it hits 5 million subscribers, though he did not provide an update on current subscriber numbers.

"What people really don't realize, is it's not about making money on the subscribers," he continued, touting investments by MoviePass in movies like Gotti and American Animals, both of which have posted solid box-office numbers since their release.


It's not about making money on subscribers, but we'll be profitable once we reach 5 million subscribers ...

In the meantime, they are taking 500 million shares of stock (currently trading at 8 cents) and going to make them into 2 million shares of stock ... and then try to sell an additional 4.8 billion shares at $21 a share ... to ... who?

Tomorrow morning the stock price will be $21/share at opening. Place your bets on the closing cost ... I'll start the over/under at $19.

Last edited by Abob Teff; 07-24-18 at 10:42 PM.
Old 07-25-18, 01:01 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

I haven't seen any kind of semblance of a business plan that even partly explains how they magically reach profitability at 5 million subscribers. Do they have some clause in place that will cause them to be bought out when they hit that number or something?
Old 07-25-18, 07:23 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Leaked slide from their last shareholders meeting

Old 07-25-18, 08:52 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

About an hour in ... down to $13.75. Equal to 5 1/2 cents before the reverse split.
Old 07-25-18, 09:32 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Originally Posted by Abob Teff View Post
About an hour in ... down to $13.75. Equal to 5 1/2 cents before the reverse split.
Seems like it was less than 15 before even opening. So Abob put the over/under way too high.
Old 07-25-18, 11:56 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Contest: guess the date on which MoviePass stops working for everybody

Winner: whoever picks the exact date, or closest to it

Prize: an AMC gift card valued at HMNYís stock price
Old 07-25-18, 12:02 PM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Originally Posted by fujishig View Post
Seems like it was less than 15 before even opening. So Abob put the over/under way too high.
I woke up to the notice that the 250-1 stock split occurred and was bummed out because I only had about 110, which rounds down to 0. But I guess itís a good thing. Iím on Robinhood so I think the value ($9-10 or so) will be deposited back to me in a few weeks. I lost about $45 on my HMNY gamble (started it a few months ago and bought more as it tanked further) but thatís not bad considering thatís approximately what they lose on me on a weekly basis.
Old 07-25-18, 02:52 PM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

I don't see how they can use us as customers against a chain like AMC when MoviePass keeps putting restrictions on their membership and changes its terms of service on a monthly basis. Second, I don't understand why AMC is so against a third party program like MP. I mean, they are getting more patrons than usual who will now spend more on concession stands. This was a win-win situation for them, unless I'm not seeing something here.
Old 07-25-18, 03:33 PM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Originally Posted by fujishig View Post
Seems like it was less than 15 before even opening. So Abob put the over/under way too high.
Down 50% for the day.
Old 07-25-18, 04:02 PM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Originally Posted by Red Hood View Post
I don't see how they can use us as customers against a chain like AMC when MoviePass keeps putting restrictions on their membership and changes its terms of service on a monthly basis. Second, I don't understand why AMC is so against a third party program like MP. I mean, they are getting more patrons than usual who will now spend more on concession stands. This was a win-win situation for them, unless I'm not seeing something here.
Both are linked.

AMC doesn't want a middleman for two reasons (at least):
1) If Moviepass became big/prominent enough, they could basically dictate terms to AMC. Cut us in on your concessions or we direct our users to other theaters. Moviepass made no secret that they would do this if they had the leverage, in fact, they tried and failed to intimidate AMC by shutting out some of their biggest theaters.
2) They didn't want to "devalue" the value of a ticket. What I mean by that is, Moviepass is basically paying a lot of money to subsidize tickets. People get used to 10 bucks a month for (then) unlimited movies. If Moviepass folds, they're not going to want to shell out normal price for movies, and they might not go at all. As we can see, 10 bucks is unsustainable, but it already affected how people view the 20 dollar AMC offering (before surge pricing brought the two costs closer together). The rumor was, AMC was already preparing their subscription plan when Movie Pass lowered their price, then backed down, and my assumption is that they only came in at $20 bucks because of Moviepass, otherwise it would've been higher.

In the short term, it's a win/win for AMC because they take all the concession money, and Moviepass pays them for a full ticket. But they (and MP) were thinking down the road.
Old 07-25-18, 04:26 PM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

plans to use its enthusiastic subscriber base as an infantry in its fight against major Hollywood theatre chains.
From when I signed up in December to even just a few weeks ago (after the previous round of TOS changes), I'd been downright evangelical about MP, telling anyone who'd listen about how much I loved it and what a good deal it was. Peak pricing, though, killed my enthusiasm. Now there are just too many hoops to jump through to actually achieve "any movie, any time, any theater" for only the $10 monthly fee.

I'm sticking with it until the inevitable collapse since I have Wednesdays off work (saw The Equalizer 2 today) and a theater close enough to me that I can buy a weekend ticket early for later in the day, but now I have an evergrowing list of caveats to divulge before recommending MP to people. Those free month trials they sent out a while back? Still haven't given them to anyone.

And like everyone else, I hope it lasts long enough for me to see The Meg.
Old 07-25-18, 06:38 PM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Originally Posted by fujishig View Post
Seems like it was less than 15 before even opening. So Abob put the over/under way too high.
Originally Posted by skywalker8 View Post
Down 50% for the day.
Wow ... $10.60 close. Yeah, WAY too high. I didnít figure there would be much action on the stock ó certainly not enough to drive it down that far the first day.

So $10.60 divided by the 250 multiplier is the equivalent of your previous shares being worth 4 cents now. The move to ďsaveĒ them from delisting actually cost them another 50% of their companyís book value in one day.

Letís play again ... over/under for tomorrowís close: $7.50.
Old 07-26-18, 07:23 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Checked the app and everything later than 1 p.m. for the remainder of the day is showing peak pricing for me (of all the films I haven't seen). And the fee has continued to increase. $5.25 now.
Old 07-26-18, 07:33 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Same here. It's 8:30am now and every show after 2pm has a peak price of $5.25.

Guess that stock hail Mary didn't work out.
Old 07-26-18, 07:34 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Originally Posted by Cardsfan111 View Post
Checked the app and everything later than 1 p.m. for the remainder of the day is showing peak pricing for me (of all the films I haven't seen). And the fee has continued to increase. $5.25 now.
Yup. Normally, I'd see Mission: Impossible tonight (I'm waiting until Sunday because my wife wants to see it), but there is already a surcharge of $6 listed at 8:30am. $6!!! I'll go see Blindspotting tonight instead.

This is it for me. I'm switching to AMC when this month is up.

My only issue in the future will be during Oscar season when I can't use it at the art house theatre. I have to travel farther for that one anyway.
Old 07-26-18, 08:35 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Damn. They're starting early. So unless I plan ahead on the weekend and buy my ticket in the morning, my only options to avoid the extra fee is after work on Monday/Tuesday (when I'm usually tired) and all day Wednesday. I really wish there were AMC theaters in my area. Hopefully Bow Tie (my closest) institutes their own affordable program.

BTW yesterday MP sent out an email advertising an advance screening of The Spy Who Dumped Me tomorrow. I wonder if they'll exempt that from peak pricing.
Old 07-26-18, 08:39 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Originally Posted by DJLinus View Post
Damn. They're starting early. So unless I plan ahead on the weekend and buy my ticket in the morning, my only options to avoid the extra fee is after work on Monday/Tuesday (when I'm usually tired) and all day Wednesday. I really wish there were AMC theaters in my area. Hopefully Bow Tie (my closest) institutes their own affordable program.

BTW yesterday MP sent out an email advertising an advance screening of The Spy Who Dumped Me tomorrow. I wonder if they'll exempt that from peak pricing.
Even buying early is out now for some. For example, the last two weeks the peak pricing didn't kick in until 11am. You could go early and buy tickets for later in the day if you made it before then. But now, the pricing was in effect early this morning, before the theatre even opened.
Old 07-26-18, 08:49 AM
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re: MoviePass... would it work for you? [UPDATE: THE DEAD SHALL RISE]

Bummed by how this may all end up.

Carl = Movie Pass
Worker = Stockholders / Moviegoers
Foreman = AMC


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