They just underwent a 250:1 reverse stock split and the stock is barely 10% of what it was after the split. It's lost over 60% today alone. This company is going bankrupt and quickly.
MoviePass couldn’t afford to pay for movie tickets on Thursday
61–70 of 275 posts
Re: MoviePass couldn’t afford to pay for movie tickets on Thursday
#62Earlier quoted context omitted.
Over the last 20 years I often have food and / or drinks in my hands when I walk in. No 16 year old ticket taker is ever going to make a fuss about it, because they certainly don't care. It is odd how deeply rooted in everyone's mind it is that there will be a huge scene if you try and sneak in food.
Most American movie theaters allow outside food/drink, so long as it doesn't give off a noticeable odor and isn't alcoholic. The myth about needing to sneak in your food is just that—a myth.
Probably a regional thing. Every NYC-metro movie cinema I've been to check your bag before you enter, and I've seen them actively stop people from bringing in outside food and drink before.
Re: MoviePass couldn’t afford to pay for movie tickets on Thursday
#63Earlier quoted context omitted.
I believe AMC is doing a subscription service where you can see up to 3 movies a week for $20/month.
They also have a service where you can watch any movie on Tuesdays for $5, for $12 a year. I prefer that service, and have renewed for 3 years.
Does this service have a name?
Re: MoviePass couldn’t afford to pay for movie tickets on Thursday
#64Earlier quoted context omitted.
Movie theater food is expensive because theaters in the US make almost all of their profits from the food. The movies are just a vehicle to get you to buy the popcorn and soda. On big blockbuster releases, like Star Wars or Mission Impossible, the movie theater may only get 10% of the gross ticket price on opening weekend, with the remainder going to the distributor. Overseas distributors Asia have less leverage beca…
I sometimes fear that, like bookstores and Toys R' Us, if you don't patronize these businesses, they will go away. As a kid I couldn't imagine a world without bookstores, now there aren't any. Same with Toys R' Us. Kids will never have that experience again. Yes, movies are expensive, but would you rather them not be there at all?
Indeed, when the home video/DVD usage was at its peak around the '90s, movie theaters were assumed to be a dying business by most people. Then consolidation and marketing to a younger generation breathed new life into the industry, with ticket prices going up alongside.
Re: MoviePass couldn’t afford to pay for movie tickets on Thursday
#65My wife and I are so frustrated by the movie going experience in the US. In Taiwan, everyone is permitted to bring food and drinks to the theater and that's pretty common. In the US I'm forced to pay an absurd amount of money for awful junk food. No thanks, I want to drink tea while I watch a movie. We always have to smuggle in drinks because the theater just doesn't provide any good options. None of the movies is th…
Movie theater food is expensive because theaters in the US make almost all of their profits from the food. The movies are just a vehicle to get you to buy the popcorn and soda. On big blockbuster releases, like Star Wars or Mission Impossible, the movie theater may only get 10% of the gross ticket price on opening weekend, with the remainder going to the distributor. Overseas distributors Asia have less leverage beca…
> audiences prefer more avant garde films (read: bad films which pretend to be about something)
Yikes.
Re: MoviePass couldn’t afford to pay for movie tickets on Thursday
#66Earlier quoted context omitted.
You would no doubt be surprised. High risk lending is a thing in the Bay Area at least, I attended one of the VC lunches and at my table was a person who did that for a living for hedge fund. Sort of like really really big payday loans, but with worse terms. He mentioned that one of the most unusual notes they had written was backed by obligations on future projects by the CEO of the company, so if the company folded…
What are the chances the CEO will disclose those terms to prospective employees of his new companies? Near zero? That's a serious landmine for employees who get part of their comp as stock options. Edit: edited to reflect what I actually wanted to say (future companies instead of current company)
Why would you disclose it to employees? Do employees receiving stock typically get to review term sheets and ownership schedules before accepting an offer?
I'm sure it would come up in future investors' due diligence but I'm not sure it's information they're required to disclose to employees.
Re: MoviePass couldn’t afford to pay for movie tickets on Thursday
#67Ouch. Now that MoviePass subscribers are aware of its impending demise, they're likely to use the service even more to squeeze out any remaining value before it goes kaput, further exacerbating their money woes.
Classic bank run. I mean, I don't wish anyone ill, but it would be quite amusing to watch it all burn down.
Re: MoviePass couldn’t afford to pay for movie tickets on Thursday
#68Earlier quoted context omitted.
And a critical difference, your gym doesn't lose actual money any time you visit. They may not want everyone to visit all the time, but it doesn't drain their bank account anytime you enter the door.
They lose a little money on equipment maintenance over time, but it's nothing like going to a movie.
I’d imagine even a moderately engaged gym user would lose the gym money on every visit, in staffing costs alone. The marginal cost of each user rises too, as people that are unable to get on machine are more likely to churn. It is however usually outweighed by the huge numbers of people who simply do nothing with their subscription.
Re: MoviePass couldn’t afford to pay for movie tickets on Thursday
#69I would love to see the terms for that emergency 5 million in cash. Probably eye-watering interest rates.
Via Bloomberg... "Terms of the loan are onerous. Investment firm Hudson Bay Capital Management can demand repayment of more than $3 million of the loan on Aug. 1, and the rest on Aug. 5. Proceeds from a planned stock sale must also be used to repay the debt. If Helios and Matheson Analytics fails to pay, it will be subject to a 15 percent annualized late fee until it makes good on the obligation. If the company is 48…
I've never had a physical reaction to reading loan terms before. That is painful, I have to wonder if they have any plan to turn it around using this money or if it's literally a Hail Mary to buy just a little more time.
Re: MoviePass couldn’t afford to pay for movie tickets on Thursday
#70Ouch. Now that MoviePass subscribers are aware of its impending demise, they're likely to use the service even more to squeeze out any remaining value before it goes kaput, further exacerbating their money woes.
Also known as a "Bank Run".
As soon as people think it is going bad, they go to squeeze their money out, making it even worse.