Discount Ticket Service MoviePass Raises Prices by 50%

Associated Press |

NEW YORK (AP) — MoviePass  (HMNY), the discount service for movie tickets, is raising prices by 50 percent and barring viewings of most major releases during the first two weeks.

The new $15-a-month rate for up to one movie each day still won't make MoviePass profitable. Because it typically pays theaters the full cost of tickets — which can be $15 or more in big cities — a movie or two can put the service in the red. The old monthly rate was $10.

To curtail expenses, subscribers won't be able to watch most blockbusters until the third week of release. However, a movie distributor can allow earlier viewings through MoviePass by reaching revenue-sharing or other arrangements with MoviePass.

MoviePass has proved popular with 3 million subscribers, but there are questions about whether it's sustainable.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
HMNY Helios and Matheson Analytics Inc 0.03 -0.00 -3.33 107,732,322 Trade

Comments

Emerging Growth

IMV Inc.

Immunovaccine Inc is clinical stage biopharmaceutical company. The Company develops products based on its proprietary vaccine enhancement platform in T cell activating therapies for cancer.