DALLAS, March 26, 2018 (GLOBE NEWSWIRE) -- In-theater dining leader, Studio Movie Grill (“SMG”) continues its tradition to open hearts and minds, one story at a time with value and community outreach by continuing its relationship for a third year with MoviePass Inc., the nation’s premier movie theater subscription service and a majority-owned subsidiary of Helios and Matheson Analytics Inc. (Nasdaq:HMNY). SMG partnered with MoviePass to encourage the exploration of content and has become especially successful with the millennial crowd, and will also be rolling out an annual calendar of community outreach events.
While a leader in in-theater dining for close to two decades, SMG lives its mission by establishing purpose driven campaigns and partnerships. Brian Schultz, CEO/Founder of SMG is ecstatic about the ongoing relationship with MoviePass and upcoming year. “SMG will continue its fanatical commitment to keeping the theater going experience vibrant and growing not only with affordability, but also with the priceless gift of community and storytelling. We have seen first-hand what great movies, seen in a theater setting can do. Just this week we heard from a teenager who saw an advance screening of Love, Simon and the experience of watching the movie had let him know that he was not alone in this world. The same impact was made when we hosted over 13,000 students for special screenings of Wonder or more recently hosted multiple sponsored screenings of the groundbreaking Black Panther. This is the main reason we work with a company like MoviePass - so we can extend the invitation to those who may not generally go to the movies, or only go to specific kinds of movies, and give them an opportunity to step into worlds that inspire us.”
SMG initially partnered with MoviePass to enhance loyalty and build new audiences. MoviePass has been undergoing rapid growth since the introduction of the $9.95/month subscription in August, 2017, and currently has over 2 million members. SMG has seen tremendous success amongst millennials, who benefit from being able to take advantage of features like e-ticketing and seat selection directly through the MoviePass app.
“The SMG partnership has proved to be an incredible exemplar of what we hope to accomplish by establishing mutually beneficial relationships with exhibitors,” said Bernadette McCabe, MoviePass’ Senior Vice President of Exhibitor Relations & Business Strategy. “SMG has been wonderfully supportive of our model, and we look forward to another record-breaking year of positive returns.”
As a result of the MoviePass partnership, coupled with the growth of the in-theater dining concept and local community immersion, SMG has experienced major increases in attendance during off-peak times as well as with smaller films. At a time when competitors have seen a marked decrease in anticipated annual revenue, SMG is staying on track for continued growth.
In addition to collaborating with MoviePass, SMG hopes to bring people into the SMG world with campaigns that help the community and the pocketbook. March is their prom dress drive where every donated prom dress gives the donor a movie ticket. The same premise will apply for September’s Hunger Action month with SMG’s canned food drive. Also, on the community calendar is the annual Opening Hearts and Minds Award, community filmmaker storytelling with the One Story Movement, the limited time offer adult and children’s drinks in April to benefit autism awareness month, and the ongoing special needs screenings and Chefs for Children menu program.
“The movie going model has to continue to evolve and reinvent itself and these kinds of programs help the industry. We are excited to have been the leader in implementing the model in our theaters and believe our relationship with MoviePass contributed greatly to the major box office results we saw last year, which is great for business and our stakeholders thus we are renewing a valuable partnership,” said Ted Croft, CFO, SMG. "As a conscious business, it is important for SMG to be focused on being actively involved as a partner in innovative steps towards enhancing the future of movie going and to supporting stakeholders.”
About Studio Movie Grill
Established in 2000, Studio Movie Grill (“SMG”) modernized the traditional movie-going experience by combining first-run movies with full-service, in-theater dining. SMG has swiftly grown to 30 locations in 9 states with further expansion planned. SMG was named to Inc. Magazine’s List of “Fastest Growing Private Companies” two years in a row, placed 12th in Box Office Magazine’s Giants of the Industry in 2018 with key films grossing as high as #5 in North America. Honoring its commitment to Opening Hearts and Minds, One Story at a Time™, SMG’s legacy programs include Special Needs Screenings, Chefs for Children program and annual Award, which strive to help families and acknowledge local heroes. For additional information, visit studiomoviegrill.com.
About MoviePass
MoviePass is a technology company dedicated to enhancing the exploration of cinema. As the nation's premier movie-theater subscription service, MoviePass provides film enthusiasts the ability to attend unlimited movies. The service, now accepted at more than 91% of theaters across the United States, is the nation's largest theater network. For more information, visit www.moviepass.com.
About Helios and Matheson
Helios and Matheson Analytics Inc. (HMNY) is a provider of information technology services and solutions, offering a range of technology platforms focusing on big data, artificial intelligence, business intelligence, social listening, and consumer-centric technology. HMNY owns a majority interest in MoviePass Inc., the nation's premier movie-theater subscription service. HMNY’s holdings include RedZone Map™, a safety and navigation app for iOS and Android users, and a community-based ecosystem that features a socially empowered safety map app that enhances mobile GPS navigation using advanced proprietary technology. HMNY is headquartered in New York, NY and listed on the Nasdaq Capital Market under the symbol HMNY. For more information, visit us at www.hmny.com.
Cautionary Statement on Forward-looking Information
Certain information in this communication contains “forward-looking statements” about HMNY and MoviePass Inc. (“MoviePass”) within the meaning of the Private Securities Litigation Reform Act of 1995 or under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, “forward-looking statements”), that may not be based on historical fact, but instead relate to future events. Forward-looking statements are generally identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. Such forward-looking statements include, without limitation, statements regarding MoviePass’ business and prospects. Statements regarding future events are based on HMNY’s and MoviePass’ current expectations and are necessarily subject to associated risks.
Such forward-looking statements are based on a number of assumptions. Although management of HMNY and MoviePass believe that the assumptions made and expectations represented by such statements are reasonable, there can be no assurance that a forward-looking statement contained herein will prove to be accurate. Actual results and developments (including, without limitation, MoviePass’ ability to continue to increase its subscribers, to derive financial benefits from its subscription growth and to make technological improvements to its product platform) may differ materially and adversely from those expressed or implied by the forward-looking statements contained herein and even if such actual results and developments are realized or substantially realized, there can be no assurance that they will have the expected consequences or effects.
Risk factors and other material information concerning HMNY and MoviePass are described in HMNY’s Quarterly Report on Form 10-Q, for the quarter ended September 30, 2017 filed with the SEC on November 14, 2017, in HMNY’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the SEC on April 14, 2017, in HMNY’s Current Report on Form 8-K filed on November 30, 2017 (as amended on February 9, 2018) and other HMNY filings, including subsequent current and periodic reports, information statements and registration statements filed with the SEC. You are cautioned to review such reports and other filings at www.sec.gov.
Contacts
MoviePass Contact:
LaunchSquad for MoviePass
212-564-3665
moviepass@launchsquad.com
HMNY Contact:
The Pollack PR Marketing Group
Stephanie Goldman/Mark Havenner, 310-556-4443
sgoldman@ppmgcorp.com / mhavenner@ppmgcorp.com