April 5, 2018
Theatrical ticket subscription service MoviePass and corporate parent Helios and Matheson Analytics (HMNY) April 5 announced they have acquired Moviefone, the venerable movie listing and information service owned by Oath (formerly AOL).
Oath, which is owned by Verizon, will continue to sell Moviefone’s digital ad inventory and has taken an ownership stake in MoviePass through equity in HMNY in connection with the transaction.
MoviePass, which is attempting to sustain a loss-leader business model offering consumers daily access to a theatrical screening for less than $10 a month, claims Moviefone generates six million monthly unique visitors full seeking access to theaters and streaming services and all screens in between.
MoviePass says the acquisition represents “another pillar” in building its content marketing strategy and advertising revenue.
“This natural alignment will help us grow our subscriber base significantly and expand our marketing and advertising platform for our studio and brand partners,” Mitch Lowe, CEO of MoviePass, said in a statement. “Moviefone has been a go-to resource for entertainment enthusiasts for years, and we’re excited to bolster its presence and bring this iconic platform into the entertainment ecosystem of the future.”
Matt Young, VP of entertainment at Oath, said combining the two brands is a marketing win.
“Advertising partners will have a more powerful and comprehensive vehicle to promote their films,” Young said.
Founded in 1989 as a telecom service, Moviefone – similar to Fandango – now offers online movie show times and tickets, trailers, TV schedules, streaming information, cast and crew interviews and photo galleries. Editorial coverage includes entertainment news, trailers and clips, red-carpet coverage and celebrity features.
“This investment in digital content expands MoviePass’ reach further into multiple Hollywood touchpoints,” said Khalid Itum, VP, business development at MoviePass. “We believe the acquisition will allow us to connect studios and brands with potential new subscribers, capture their attention, and convert them into paying subscribers. We believe Moviefone will also allow us to provide relevant and appealing content to moviegoers while simultaneously increasing the value of the Moviefone brand.”