Helios and Matheson Analytics Inc (NASDAQ:HMNY) is carefully eyeing its massive subscriber momentum with majority-owned subsidiary MoviePass- the future Netflix of the movie theater arena. Just last month, MoviePass ramped up over 2 million subscribers, after having reached 1.5 million in January- meaning growth is all stirred up. With not a hint of slowing the pace of success, HMNY seems to want to stoke that customer enthusiasm even more.
After all, the company has now revealed a new alliance with the customer experience specialists at TaskUs. Along with the TaskUs partnership under way, MoviePass has also sought out former TaskUs Senior Manager of Client Services, Jake Petersen for hire as the company’s VP of Customer Experience.
TaskUs is a global leader in customer care solutions and has worked with high profile companies and startups all over the world such as Tinder, Periscope, Hotel Tonight and Hootsuite. As one of the premier providers of customer experience solutions, the company specializes in providing the consultative solutions that businesses need to deliver operational excellence, scale support systems and increase the bottom line.
“We want to ensure that all MoviePass subscribers feel that they are being heard and cared for,” said MoviePass CEO Mitch Lowe. “We’ve been overwhelmed with the amount of interest shown in MoviePass these last few months, and the TaskUs partnership is a continued step forward in our customer service capabilities. Improving the customer experience is one of our top priorities as we continue developing as a company. We’re thrilled to have Jake Petersen on board to lead our internal customer care initiatives, in addition to managing the TaskUs partnership, as Jake brings a wealth of valuable experience in the field of customer excellence.”
Petersen comes to MoviePass having previously worked at TaskUs, where he served as a Senior Manager of Client Services for almost three years. There he was responsible for building and running customer experience operations for a number of hyper-growth companies. Prior to TaskUs, Petersen served as the Head of Professional Support and Acquisition for Houzz, where he helped grow the service team to over 60 members while the company itself grew from 5 to 40 million users. With MoviePass, Petersen will improve and optimize the customer care side of the business by representing the voice of the customer.
MoviePass has rapidly become one of the most popular subscription services in the nation, and I’m excited to join the team and help them take their customer experience efforts to the next level,” said Petersen. “We have a massive opportunity here to create something special within the entertainment industry.”
“TaskUs is proud to partner with MoviePass, a company that shares our passion for delivering exceptional experiences to customers. We are jointly focused on improving MoviePass’ customer experience operations and began the partnership with a deep dive into process and tools optimization. Going forward, we hope to expand and improve customer service through improved data insights on contacts, self-help strategies and channel optimization,” said TaskUs’ VP of Consulting, Nikkole Shamsuddin. “We are committed to delivering the highest quality of service across email, chat, phone and social support channels to enable a truly omnichannel experience for customers.
In the six months since MoviePass announced its $9.95/month unlimited subscription, the service has experienced significant subscriber growth and currently serves over two million subscribers. In addition to the $9.95/month unlimited plan, MoviePass also offers a one-time-fee annual subscription plan amounting to a monthly fee of $7.95. By partnering with TaskUs and hiring Petersen, MoviePass aims to enhance their focus on the customer experience, continuing to ensure that the company is as devoted to its customers as the customers are to MoviePass.
According to TipRanks, Brian Kinstlinger of Maxim is the only one on the Street covering the stock. Kintslinger approaches HMNY shares from a bullish stance, reiterating a Buy with a $16 price target, which implies a whopping nearly 243% upside from current levels. (To watch Kinstlinger’s track record, click here)
“HMNY raised $105 million through the sale of stock and warrants; this is a significant positive as being able to fund subscriber growth and over usage removes a key near-term risk, in our view,” asserts the analyst, who sees a variety of channels for the company to monetize is giant user base- and ramp up profitability.