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Eric Atreides

Moviepass and its Impact on the Box Office

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20 minutes ago, TwoMisfits said:

Moviepass did serve its purpose - it brought domestic theaters into the "subscription" game (see Cinemark and now AMC) at a much more reasonable for the consumer price point, and it started a whole bunch of other outside competitors (see Sinemia).  It couldn't be the success story other "game changers" were in other industries, but it helped out the consumer greatly...and probably the industry, too, since it brought back a wave of movie goers and restarted movie going habits.

 

It will probably be in tons of business case studies, both pro and con, for years to come...

I agree. I know many folks on here have shit on Movie Pass, but as a consumer and someone who loves going to the movies, I have nothing but good things to say about the company. 

 

Yea their plan didn't work. Everyone saw that coming. And they had weird ass policies sure. But they opened the gates to subscription based plans at theater chains. Something that I don't think would have happened without them. And thus, I can't shit on them as a company. They've made movie going much more affordable than its ever been. 

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1 hour ago, Nova said:

So is it officially done or do I have to cancel my plan to not get charged for the next month's subscription? 

 

 

I would DEFINITELY cancel and notify your credit card company.  I think those unfamiliar with equities don't fully realize just how shady this company was.  Imagine being fooled into buying their stock at $35 a few months ago and it now being 2 cents.  $100,000 would turn into about $50.  The CEO of this company meanwhile paid himself millions and has done this before with several other companies he started.  Protect yourself. I have no doubt they will keep billing even when you can't use it

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I'm hoping the fall of MoviePass and the competition from AMC A-List causes Cinemark to step up their game with Movie Club beyond 1 free movie ticket per month (with unused tickets never expiring). It's the chain I frequent but I really don't want to pay for something where the main benefit is concession discounts. I never do concessions when I go to the movies.

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1 hour ago, MrGlass2 said:

So... what was its impact on the box office? Because we will now see the opposite happen, starting (unfortunately) with MI:F.

 

JUST A COINCIDENCE that Disney had 4 600M blockbusters in the last 8 months while Moviepass was chugging along. Nothing to see here

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47 minutes ago, Rumpot said:

I would DEFINITELY cancel and notify your credit card company.  I think those unfamiliar with equities don't fully realize just how shady this company was.  Imagine being fooled into buying their stock at $35 a few months ago and it now being 2 cents.  $100,000 would turn into about $50.  The CEO of this company meanwhile paid himself millions and has done this before with several other companies he started.  Protect yourself. I have no doubt they will keep billing even when you can't use it

Yeah... cancel and watch your credit card bills.  They will likely go into bankruptcy and still keep trying to charge people until they go away

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34 minutes ago, Chewy said:

 

JUST A COINCIDENCE that Disney had 4 600M blockbusters in the last 8 months while Moviepass was chugging along. Nothing to see here

This is actually gonna be interesting...Moviepass paid full price for tickets, and we know usage was at more expensive showings...whereas theater plans are now only "paying" $8.99/movie however you use the AMC/Cinemark plans.  So, you could literally have a significant cut in box office (particularly for low box office movies) as $8.99 is now the "ticket price" vs $13-$15/ticket...

 

I wish we had ever gotten "real" numbers from Moviepass...maybe now that they are bankrupt, we will...and we'll finally see how much box office their company kicked to each movie...

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On 6/20/2018 at 3:01 PM, Rumpot said:

Never said a set date before. And what's funny?...the stock is 30 cents, man.  Even the most basic awareness of equity should tell you it's over.  The money has been taken from investors every few months for life support. At a sub $1 stock it objectively IS over.  I'm betting the fumes last 6 weeks tops.  

Hey, not bad call if I do say so myself. 5-6 weeks it is

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Per HMNY's SEC filings, in Q1 their total cost of revenue was $136 million. Revenue from subscriptions was $47mm.

 

So that gives us a range of impacts.

 

If all these people would have not gone to any movies if there were no MoviePass, it was a $136mm boost to box office in Q1.

 

If on average these people would have spent the same amount of money to see movies, but saw 100% of the "extra" movies they did above that cost thanks to MoviePass, it was an $89mm boost to box office in Q1.

 

If on average these people would have gone to half those "extra" movies anyway, and just enjoyed the deal they were getting, then maybe it was a $45mm boost to Q1 box office.

 

That's roughly the order of magnitude we are talking about, in Q1. Q2 hasn't been reported and I guess might never be...

 

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