Helios and Matheson’s (HMNY) MoviePass Adds Big Theater Circuit Landmark to Its Alliances; Shares Leap 10%
Helios and Matheson Analytics Inc (NASDAQ:HMNY) shares are vaulting 10% on back of the news major-owned subsidiary MoviePass just inked an exhibitor deal with the leading theater circuit in the U.S. dedicated to exhibiting and marketing independent film.
With a new alliance sealed between MoviePass, the future Netflix of the movie theater arena, and Landmark Theatres, owned by Wagner/Cuban companies (a group of media properties co-owned by Todd Wagner and Mark Cuban), MoviePass subscribers now gain access to an important new theater.
Under the terms of the deal, Landmark Theatres will integrate MoviePass into its ticketing system. MoviePass members using the service at Landmark Theaters can then benefit from advantages and features from e-ticketing to advanced screening reservations to even in-app seat selection. It’s a symbiotic partnership, as MoviePass presently can point to two million plus members across the U.S. in its base and Landmark Theaters operates 225 screens across 53 theaters- across 27 markets ranging the nation. This includes Florida, Illinois, Los Angeles, Maryland, Michigan, Minnesota, New York, Texas, as well as Wisconsin.
“We are excited to offer MoviePass customers access to our Landmark Theatres,” said Mark Cuban. “There is no better place to watch a movie than Landmark and now MoviePass customers will be able to enjoy all of our theaters.”
“Our relationship with Landmark represents another milestone achievement in our journey to enhancing the current movie theater ecosystem,” said Bernadette McCabe, Senior Vice President of Exhibitor Relations & Business Strategy at MoviePass. “It’s another step towards educating exhibitors on how we can work together in a mutually beneficial way to create a valuable and cost-effective experience for moviegoers.”
According to TipRanks, Brian Kinstlinger of Maxim has a Buy rating on the tech stock with a $16 price target, marking a massive nearly 375% in return potential from where the stock is currently trading.