MoviePass Stocks Take A Plunge

It’s no secret that MoviePass has its issues. Major inconsistencies seem to plague the idea which has culminated in the creation of “a ‘peak pricing’ surcharge for the most popular titles at the most popular showtimes”, according to Variety. (None of us like surcharges…Uber).

Variety went on to report the findings on just how much the MoviePass stock of parent group Helios and Matheson Analytics has dropped as AMC looks toward their own way:

“It plunged 26%, declining by 4 cents to 11 cents. The issue has lost more than 98% of its value this year and has continued to decline in recent weeks in the wake of AMC’s launch on June 20 of a discount pricing program, allowing customers to see three movies a week for a $19.95 monthly fee.”

“MoviePass has more than 3 million subscribers and allows customers the chance to see a movie a day for a monthly fee of $9.99. But Wall Street has been losing faith in whether MoviePass can survive by selling data about its customers and striking marketing partnerships. The issue took a major hit after a May 8 filing with the Securities and Exchange Commission that revealed it had $15.5 million in available cash at the end of April, plus $27.9 million on deposit with merchants while monthly expenses totaled $21.7 million.”

Yikes.  Doesn’t look too promising at the moment. Do you think MoviePass will survive? Are you a MoviePass holder? Do you prefer the AMC Stubs route, or are movies just too dang expensive regardless?  Leave your thoughts in the usual place, and thanks for reading!

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Source: Variety


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