Shares of Helios and Matheson Analytics Inc (NASDAQ:HMNY) are higher on Tuesday, building on their strength from Monday when its majority-owned subsidiary MoviePass announced that it has signed a marketing and performance-based revenue agreement with an independent movie distribution company.
Helios and Matheson shares got a boost today as investors cheer the new collaboration of MoviePass and Fandor with Costco to offer a one-year subscription plan for a flat fee of $89.99. The package deal for both services is available exclusively to Costco members and covers a year of membership for MoviePass and Fandor.
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The offer will only be available online at Costco.com for one week, from December 12 to December 18, 2017.
Those who sign up for the one-year subscriptions will receive digital codes providing instant access to Fandor’s library of over 5,000 films, as well as a year’s worth of the latest and greatest in-theater experiences through MoviePass. The annual subscription for both services is offered exclusively through Costco.com and will be billed as a one-time payment of $89.99 at the time of purchase.
MoviePass introduced its $9.95 per month subscription plan in August 2017, as part of a majority acquisition of MoviePass by Helios and Matheson. Since the roll out of the $9.95 per month plan, MoviePass’ subscriber base has grown to over 600,000 subscribers, delivering on its promise to bring back the joy of the theater-going experience while increasing movie theater attendance across the country.
“We’ve long been fans of Fandor’s library of movies and we’re excited to partner with them and Costco to bring new members this incredible limited-time offer,” said Mitch Lowe, CEO of MoviePass. “MoviePass is ultimately about celebrating our love of movies, whether you stream them at home or experience them on the big screen. We feel strongly that our subscription model is a major step forward for the industry, and the increased attendance that we’ve seen as a result of the MoviePass service is an encouraging sign not only for theaters, but for the studios and distributors as well.”
Larry Aidem, President and CEO of Fandor, commented that: “Fandor is excited about its continuing successful partnership with MoviePass and the resulting benefit to movie lovers. Working with our friends at Costco, Fandor and MoviePass together are offering Costco customers access to over 5,000 movies available to stream at home plus access to unlimited movies in theaters 365 days a year.”
Costco members who purchase the combined deal will receive digital codes that can be used to gain access to each annual subscription. Members will need to enter each code on the respective MoviePass and Fandor websites in order to complete the sign-up process.
Helios & Matheson Analytics provides information technology consulting, training services, software products and enhanced suite of services of predictive analytics. Its solutions cover the entire spectrum of IT needs, including applications, data, and infrastructure. The company was founded in February 1983 and is headquartered in New York, NY.