Helios and Matheson Analytics (HMNY) and MoviePass, the movie theater subscription service and a majority-owned subsidiary of HMNY, announced news on Thursday (April 5) that HMNY has acquired Moviefone, an entertainment service owned by Oath Inc., which is the former AOL. Moviefone has more than 6 million monthly unique visitors.
In a press release, HMNY said Moviefone is its second acquisition in the consumer entertainment industry, giving it another pillar in its efforts to build out its content marketing strategy and advertising revenue platform for MoviePass. Oath 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, the companies said in the press release.
“This natural alignment between MoviePass and Moviefone will help us grow our subscriber base significantly and expand our marketing and advertising platform for our studio and brand partners,” said Mitch Lowe, CEO of MoviePass, in prepared remarks. “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.”
According to HMNY, Moviefone provides consumers with movie showtimes and tickets, trailers, TV schedules, streaming information, cast and crew interviews and photo galleries, among other things.
“This investment in digital content expands MoviePass’ reach further into multiple Hollywood touchpoints,” said Khalid Itum, VP, Business Development at MoviePass in the same press release. “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.” Terms of the deal were not disclosed.
In March, MoviePass announced it inked a deal with Landmark Theatres, the nation’s largest independent film theater chain, in which MoviePass will be integrated into Landmark Theatres’ ticketing system, allowing users to enjoy such benefits and features as eTicketing, advanced screening reservations and in-app seat selection.