MoviePass is rising up.
The dad or mum corporate of the all-you-can-eat film subscription plan on Thursday mentioned it has bought Moviefone, the provider that gives its customers with knowledge on motion pictures and theaters in addition to film trailers and ticketing.
Wildly common within the ’90s, Moviefone is absolute best recognized, most likely, for its well-known, “Welcome to Moviefone” greeting parodied by way of Kramer in “Seinfeld.”
Under the phrases of the deal, Helios and Matheson Analytics can pay Verizon $1 million in money plus $eight million in inventory.
That’s a long way not up to the $388 million that AOL, now a part of Verizon’s Oath operation, reportedly paid for Moviefone in 1999.
“Moviefone was such an iconic brand. They were still getting 6 to 7 million unique users a month,” HMNY Chairman and CEO Ted Farnsworth instructed The Post. “I think they’ve done a great job transitioning to the internet.”
MoviePass, which has about 2.five million subscribers paying $nine.95 a month to observe a film an afternoon, can be mixed with Moviefone, the CEO mentioned.
The mixed websites can have extra scale and promoting alternatives, Farnsworth mentioned. Operationally, Moviefone can be rolled into MoviePass. They perform as two separate firms, however the back-end places of work can be built-in.
No layoffs will outcome from the deal, the CEO mentioned. The focal point is on enlargement and new hires, he added.
“HMNY’s vision is to have MoviePass support the entire movie theater industry ecosystem — from distribution to exhibition and now content,” he mentioned.