It's the economy, stupid! (Finance-related news)

[Andalusian girls]

what can men do against such reckless hate

[TsingTao]

Pick a different chair...that's about it.

[Zetanio]

It's assumed that you fart into that chair. Nobody is buying the floor model.

[Moss]

How else would one mark one's territory?

Sent from my Pixel 2 using Tapatalk

[Salodin]

Don't forget the display vibrators. The ones that most definitely were not marketed to men.

[6souls]

https://www.marketwatch.com/investin...MW_story_quote

Currently sitting at $0.53

$0.128 Today and they just dropped a lovely press release 2 hours ago;

MoviePass™, the nation’s premier movie theater subscription service and a majority-owned subsidiary of Helios and Matheson Analytics Inc. (Nasdaq:HMNY) (“Helios”), today pushed back on comments by some in the theater industry who have predicted, and in some cases declared, its passing.

Exhibitors know that without MoviePass they will be able to continue to charge exorbitant prices for theater tickets and gouge customers with overpriced concessions. This is exactly the attitude the taxicab industry took when Uber entered their market.

Furthermore, any crowing about the uptick in box office receipts this summer season should include the fact that a significant percentage of that total is directly attributable to MoviePass subscribers.

Here’s just a sample:

• MoviePass contributed nearly one-fourth of the domestic box office receipts for Lionsgate’s “Blindspotting” through the first Tuesday after its release.
• MoviePass ticket purchases represented nearly 17 percent of Thursday night previews for Paramount’s “Book Club.”
• For Warner Bros.’ “Tag,” which MoviePass promoted in-app, its purchases represented 13 percent of the film’s opening weekend domestic box office totals
• MoviePass ticket purchases accounted for about 12 percent of the entire theatrical run for Magnolia Pictures’ runaway documentary hit “RGB.”

Overall, we believe as much as 6 percent of the industry’s total box office receipts can be traced to our loyal subscribers. It’s clear that because of MoviePass, more people are seeing more movies at fair prices. Instead of wishing us away, the industry, particularly the independent film producers, should be congratulating and supporting us. Absent MoviePass, exhibitors are fighting to preserve profits in a declining box office environment. That’s the doomed strategy.

Yes, we’re going through a rough patch not unlike what other disruptive enterprises experienced in their early days. Much of our issues can be attributed to the unprecedented growth in a business that just 12 months ago did not exist.

I was reading that it's quite the process to cancel Moviepass now where you have to go through "hidden" drop down menus to complete the process.

[Zetanio]

I've only heard of one of those movies. How about Mission Impossible? What's the percentage there?

OH WAIT YOU BLOCKED MAJOR STUDIO MOVIES

[dasva]

I've only heard of one of those movies. How about Mission Impossible? What's the percentage there?

OH WAIT YOU BLOCKED MAJOR STUDIO MOVIES

Not only that but they are all ones that they promoted thru the ap and emails and text alerts if you get those.

And Blindspotting was extra promoted with them sending me notices of advanced screenings in Oakland to celebrate it's about the city or something

They are also kind of glossing over the problems are the fact that for the last week or 2 the ap has often just not worked except for E-ticketing (or only partially working in that it just wont show a bunch of screenings but will show others even when its the same film same day at same theater) and their in ap customer service basically just gives you platitudes about how they are working hard to improve service and make it the best they can. How about you start by providing the minimum agreed upon first and give me an ETA when I can actually use the thing I paid for yeah?

Edit: Oh yeah now it's saying some definitely not premium screenings are premium. So guess they are retroactively changing my subscription for some new stuff. Anyone know if there is recourse for that?

[Zetanio]

The Alamo I go to has BIG signs on the machines saying that Moviepass doesn't work on any of them. You have to line up and the one slow cashier gets to get your ticket for you.

I'm already in my seat enjoying delicious breakfast pizza by the time you sit down. That's worth more than money to me.

[dasva]

The Alamo I go to has BIG signs on the machines saying that Moviepass doesn't work on any of them. You have to line up and the one slow cashier gets to get your ticket for you.

I'm already in my seat enjoying delicious breakfast pizza by the time you sit down. That's worth more than money to me.

Well I mean it was great and now it's gone to shit AND they are giving me less than I paid for so guess I'm going to cancel and demand a refund for the rest of my subscription

Edit: Based on the roasts I'm seeing all over fb and twitter yep it seems like they are trying to back out of terms and people are starting to threaten class action.

https://www.cnbc.com/2018/07/31/what...-problems.html

[chazzyphizzle]

that is one well run company

[Buffy]

Where do I put my emergency savings so it earns more than the paltry .34% it is earning right now but is still accessible in 2-3 days in case it is needed and won't go down in the event of a stock market dip?

[Zetanio]

https://www.nerdwallet.com/blog/bank...rket-accounts/

[6souls]

Well I mean it was great and now it's gone to shit AND they are giving me less than I paid for so guess I'm going to cancel and demand a refund for the rest of my subscription

Edit: Based on the roasts I'm seeing all over fb and twitter yep it seems like they are trying to back out of terms and people are starting to threaten class action.

https://www.cnbc.com/2018/07/31/what...-problems.html

https://www.cnbc.com/2018/08/01/what...aboolainternal

The follow-up article is good on why a class action won't matter much and they put in their terms of service early on that features may change over time.

[dasva]

https://www.cnbc.com/2018/08/01/what...aboolainternal

The follow-up article is good on why a class action won't matter much and they put in their terms of service early on that features may change over time.

Everyone puts that in their terms that they may change over time but it's always for future subscriptions/renewals not what was already paid for and agreed upon. Especially such drastic changes

The law professor notes that just because that language is in the contract, that doesn't mean MoviePass can simply change the nature of its service dramatically, or without limit —courts often side against companies that change the terms of a deal without properly notifying customers or giving them a reasonable opportunity to drop their subscription.

However, Ben-Shahar argues that, unless MoviePass gets "express, fresh agreement from the consumer" to continue with the plan in light of any new changes, then users might have a legal argument to end their subscription early.

ie yeah monthly people have little to stand on. In fact I bet that's why they changed it at end of month so people would have less time to opt out before renewals. Yearly should get a refund

[6souls]

I did some further reading on the company that owns MoviePass. They completed a purchase of Moviefone from Verizon this past April in which Verizon got something like a 9.2% control of the company's stock. Also in May, the company opened a subsidiary film studio called MoviePass Films which released two films in June that it acquired from another business (American Animals & Gotti).

I'm now seeing that a venture fund run the the students and alumni of UC San Diego has tried to purchase MoviePass for $25m to give it a “Millennial Touch.” Helios and Matheson turned the offer down. UCSD is now taking their offer to the shareholders.

And if anyone cares at all, the share price by Friday close was $0.07

[TsingTao]

In an attempt to stem the bleeding MoviePass changes service to allow users to see 3 movies per month.

https://money.cnn.com/2018/08/06/med...nth/index.html

I don't expect this will be well received.

[Zetanio]

They are going to be out of business shortly. What a bunch of fucking idiots.

[Moss]

"MoviePass says 85% of its customers already see no more than three per month."

It's the old 80/20 rule, makes sense to me

Sent from my Pixel 2 using Tapatalk

[6souls]

In an attempt to stem the bleeding MoviePass changes service to allow users to see 3 movies per month.

https://money.cnn.com/2018/08/06/med...nth/index.html

I don't expect this will be well received.

https://www.cinemablend.com/news/245...-major-changes

Same info with different insight. 15% of users who watched more than 3 films a month were the ones bankrupting the company. Surge pricing is ending for "some" first-run films, price will stay at $9.95, & if you watch more than 3 films there will be a $5 discount to ticket prices.

I like that the CNN article mentions that the stock price rose 2 CENTS with the news of the change.