EPS $.15 Compared to First Quarter 2017 EPS
Loss of ($1.17)
Revenue and EPS hit new all-time records
Active MoviePass subscribers have surpassed 2.7
million with MoviePass adding 1.1 million net new subscribers in
1st quarter
Helios & Matheson (Nasdaq: HMNY) (“Helios”) announced
financial results for the first quarter today. The company posted
quarterly revenues of more than $49 million for 2018 and $1.3 for
2017, an increase of more than 3,700%. Quarterly earnings per share
was $.15 basic income per share compared to a loss of ($1.17) per
share one year ago. Subscriptions to MoviePass were very strong for
the first quarter.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180516005810/en/
MoviePass April Usage vs. May Usage --
All Current Active Users (Photo: Business Wire)
“We are excited to report our biggest quarter in Helios and
Matheson and MoviePass combined history. This growth surpassed our
expectations,” said Ted Farnsworth, Chairman and CEO of Helios.
A recent independent survey by NRG (National Research Group)
which was hired by the Hollywood Reporter, strongly supports the
comparatively strong customer satisfaction levels of our
subscribers, as 83% of our subscribers are more satisfied with
MoviePass than any other subscriber service, with this further
supporting and underscoring the tremendous value proposition we
provide to consumers.
The NRG (National Research Group) report also stated:
- 41% decide what theater to attend based
on MoviePass
- If their favorite theater chain started
their own service, only 18% would definitely switch their
service
- 72% of subscribers would pay more to
see a movie in a premium format
- 84% very likely to recommend
MoviePass
- MoviePass subscribers are twice as
likely to attend movies on opening weekend
- 83% are seeing more movies than before
they were subscribers to MoviePass
- Subscribers are twice as likely to see
the following movies such as, LadyBird, the Post, I, Tonya,
Annihilation.
- 49% are more willing to attend movies
alone
- Nearly half of all moviegoers are aware
of the MovePass service and one third say they are very likely to
subscribe once they learn more
- 49% say they are seeing movies that
they wouldn’t normally see in theaters
Our core strategy has always been to provide a compelling value
proposition to consumers that vastly improves their movie-going
experience. As our subscriber base rapidly grows and matures, our
financial goal is to breakeven on subscribers and generate
alternative revenue streams through studio/brand promotion,
advertising, digital films, and other initiatives, as well as
MoviePass Ventures, MovieFone, and owning original movies in
theatrical release, where MoviePass earns revenue by owning an
equity stake in the movies and earning ancillary revenues from
streaming, DVD sales, retail sales, foreign distribution sales, and
transaction sales, etc. We have done this with most recent
acquisitions of American Animals, and Gotti starring John Travolta,
Kelly Preston, and Stacy Keach which both premiere in the United
States in June 2018. Recent trends related to average ticket
purchases, churning net growth and reducing abuse has bolstered our
confidence in our economic model being viable and shows significant
improvement in achieving our objectives.
MoviePass is releasing key metrics that demonstrate significant
improvements to its economic model and strong appeal to
customers. The trendline based on our data suggests this
figure will be reduced further in the coming months. As our
subscriber base matures, we are also naturally seeing significantly
reduced usage over time. MoviePass added 1.1 million net
new subscribers in the first quarter and our subscriber base
recently surpassed 2.7 million. Recent actions MoviePass has
taken to curb misuse (announced on April 27, 2018) have not had a
negative impact on its strong net subscriber growth, which
continues to exceed a monthly run rate of 350,000 net new
subscriber additions since late April.
MoviePass and MoviePass Ventures
MoviePass Inc. (“MoviePass”) is a marketing technology platform
enhancing the exploration of film and the moviegoing experience. As
the nation's premier movie-theater subscription service, MoviePass
provides film enthusiasts the ability to attend up to one new movie
title per day in theaters. The service, now accepted at more than
91% of theaters across the United States, is the nation's largest
theater network.
MoviePass Ventures LLC, is a wholly-owned subsidiary of Helios
and Matheson Analytics Inc. (NASDAQ: HMNY), dedicated to supporting
filmmakers and distributors. Announced at the 2018 Sundance Film
Festival, MoviePass Ventures collaborates with film distributors
and creatives to co-finance the acquisition of films and team with
MoviePass to market films to MoviePass subscribers, offering
enhanced box office performance.
About Helios and Matheson
Helios and Matheson Analytics Inc. (Nasdaq:HMNY) (“Helios”) is a
provider of information technology services and solutions, offering
a range of technology platforms focusing on big data, artificial
intelligence, business intelligence, social listening, and
consumer-centric technology. Helios owns approximately 92% of the
outstanding shares (excluding options and warrants) of MoviePass
Inc., the nation's premier movie-theater subscription service.
Helios's holdings include RedZone Map™, a safety and navigation app
for iOS and Android users, and a community-based ecosystem that
features a socially empowered safety map app that enhances mobile
GPS navigation using advanced proprietary technology. Helios is
headquartered in New York, NY and listed on the Nasdaq Capital
Market under the symbol Helios. For more information, visit us at
www.hmny.com.
Cautionary Statement on Forward-looking Information
Certain statements in this communication contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 or under Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended (collectively, “forward-looking statements”) that
may not be based on historical fact, but instead relate to future
events, including without limitation statements containing the
words “believe”, “may”, “plan”, “will”, “estimate”, “continue”,
“anticipate”, “intend”, “expect” and similar expressions. All
statements other than statements of historical fact included in
this communication are forward-looking statements.
Such forward-looking statements are based on a number of
assumptions. Although Helios’s management believes that the
assumptions made and expectations represented by such statements
are reasonable, there can be no assurance that a forward-looking
statement contained herein will prove to be accurate. Actual
results and developments (including, without limitation, the
potential benefits of MoviePass Ventures’ co-investment in films as
described herein) may differ significantly from those expressed or
implied by the forward-looking statements contained herein and even
if such actual results and developments are realized or
substantially realized, there can be no assurance that they will
have the expected consequences or effects. Risk factors and other
material information concerning Helios and MoviePass are described
in its Annual Report on Form 10-K for the fiscal year ended
December 31, 2017 and other filings, including subsequent current
and periodic reports, information statements and registration
statements filed with the U.S. Securities and Exchange Commission.
You are cautioned to review such reports and other filings at
www.sec.gov.
Given these risks, uncertainties and factors, you are cautioned
not to place undue reliance on such forward-looking statements and
information, which are qualified in their entirety by this
cautionary statement. All forward-looking statements and
information made herein are based on Helios’s current expectations
and Helios does not undertake an obligation to revise or update
such forward-looking statements and information to reflect
subsequent events or circumstances, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180516005810/en/
HMNY Contact:The Pollack PR Marketing GroupStephanie
Goldman/Mark Havenner, 310-556-4443sgoldman@ppmgcorp.com /
mhavenner@ppmgcorp.comorMoviePass Contact:LaunchSquad for
MoviePassGavin Skillman, 212-564-3665moviepass@launchsquad.com
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