MoviePass a service that allows subscribers to watch up to three movies per month for a weekly fee. The company has been recently toning down in how its service works, with setbacks like after watching one movie you can’t watch it again.
Recently, a director of MoviePass parent company resigned as, executives have managed the company poorly and have withheld crucial information from the parent company. MoviePass has constantly withheld info from the parent company, and have made big decisions without the board’s approval.
The parent company Helios & Matheson, had a drastic change in its stock going down from its $9,000 per stock in a high last year to now only .02 cents.
Huge loans to cover costs of movie tickets and huge changes in the way the company works has helped in breaking down the company.
The company is in a spiral as of now, but it claims it has managed its business properly.
With MoviePasses continuation of leaving people and horrible executives, the download rate of the app has plummeted. MoviePasses down load rates have decreased almost 76% since June. The dramatic download decrease started when the company announced a increase in monthly payments. It also had dramatic decreases due to it limiting the watching of blockbuster movies. It quickly rolled back some changes but some are still in play. One of those being the limit on watching blockbuster movies.
The continue of the parent company’s spiraling stock is no help either. With their continue of stock only going for only cents, movie pass and its parent company could end up in the low and or disbanded.
With the threat of losing everything both companies have still attempted to change or provoke a source or something else to get them back on their feet. The parent company Helios & Matheson Analytics have attempted in changing and creating deals for stock. Their current stock going for cents has prompted them to make deals as of buying one stock and geting more in return.
Both companies dealing with tons of problems that are facing their companies have not given up yet. MoviePass continues to find ways to fix their current ways, while Helios & Matheson squabble for money or any help to survive what executives of movie pass have done to their company and what the executives did to theirs. Neither companies have given up, but they are spiraling down attempting to find a way back up.