While MoviePass continues to grow in its subscription numbers, faith in its parent company, Helios and Matheson Analytics, doesn’t seem to be getting any better. However, if you were worried about them pulling out of the movie game due to the nonexistent profits from its subscription service, you’d be wrong — at least for now.
According to Variety, Helios and Matheson Analytics have acquired the option to buy Emmett Furla Oasis Films, who produced such films as Lone Survivor and End of Watch. If this goes through, they will acquire the entire library of films, as well as the current production slate, and will launch its own production company: MoviePass Films. That’s right. The MoviePass brand is extending to a production company, which is actually fairly smart.
“This signals our long-term commitment to the movie business,” Helios and Matheson CEO Ted Farnsworth said to the outlet. “We’re here for the long haul.”
Helios will own 51% of MoviePass Films, with EFO Films owning 49%. MoviePass Films will make movies for both theatrical release and direct-to-streaming, among other forms.
“Since we began disrupting the movie industry with our unprecedented low-cost movie theater subscription service, MoviePass, we have envisioned owning and developing our own content and using the power of our several million subscribers to bolster the success of our films,” MoviePass CEO Mitch Lowe said in a statement. “I believe this partnership with Emmett Furla Oasis Films will accelerate those efforts.”
So is this a good idea? I think it’s a natural move for the company and is incredibly smart on behalf of the parent company. Why? Well, in addition to the subscription service’s product to consumers (you know, the actual subscription service), there is also the byproduct of the data collected. They know who’s buying who, who’s going to which movies, and how often. They could very well sell this data to other companies (and I’m sure they will), but why not use that data for their own benefit?
I foresee them specifically making movies for low budgets and very specific (very profitable) niches that are likely being ignored by the big studios. With their demographics insight, they can more specifically target users, resulting in a slate of films that could reach very narrow, but very passionate audiences.
What do you think of this news? Are you as optimistic as I am on this? Let us know your thoughts down below!
Don’t forget to share this post on your Facebook wall and with your Twitter followers! Just hit the buttons on the top of this page.