The Value of Moviepass – Something to Ponder

Moviepass even with all of its hassles continues to be a great deal. That much is obvious when considering that for $9.95 a subscriber can save money by going to the theater just one time, and if they use the subscription to the max, they can get somewhere around $30 to $50 in value depending on when and where the pass is used.

I thought it might be fun to compare Moviepass to other ways consumers might blow their cash to entertain themselves. So here’s a short list of of entertainment options compared to the value of Moviepass…

We could go bowling… as Gaffigan says. But bowling these days is generally around $20 or more per bowler. For that you could buy 2 months of Moviepass and go out to the movies up to 6 times.

If bowling is not your thing – how about golf? Apparently the average green fee is around $34 for a public course. But you have to have clubs and the fancy pants and shoes to really get out there. For that you get 3 months of MP or 9 Movies. And you would have some money leftover to buy a popcorn and a drink!

Golf a little slow? How about a day skiing? According to “Snow Online” the average cost of a lift ticket in the US is now up to $94. And if you think movie concessions are expensive, try ski lodge concessions! And don’t forget the 2 hour drive, the expensive equipment rental or purchase. It’s enough to make you want to just go see a movie! And for that price, you could see at least 27 movies or have 9 months worth of Moviepass! With plenty left over to take a friend or two or three!

Maybe you prefer to do something less active? How about a concert? Well we all know that is going to set you back some real money. For good seats at a good show we are talking about $120. Or a full year of Moviepass, or 36 movies! Now that’s a lot of entertainment hours by comparison:-)

Well, how about a Broadway show! Turns out that is going to hit your wallet hard as well. According to statisa that will be $127 big ones!

Do you like Speed? How about a day at the races? NASCAR perhaps? Average ticket there $96.14. Plus parking, plus a LOT of hassle getting in and out. Let’s just call that about a year of Moviepass again. And that is being kind on the hassle charges.

How about an NFL game? Forget about it! No matter where your favorite team plays – it’s more than a full year of Moviepass!

We can talk about other entertainment options that are cheaper than Moviepass. Going on a walk is free! Sex can and should be free! You can share a Netflix account for less. Or you can buy a digital TV antenna off Amazon for about $30 bucks and get your locals for free!

Let’s face it, the cost of Moviepass is super low, and it is a fantastic value compared to just about any other entertainment option.

So as we sit and ponder if Moviepass subscriber numbers will flame out or continue to grow under the new 3 movies a month value proposition. It’s worth considering, do consumers have a lot of better options for the money?

Even the Mormons are Bashing Moviepass!

I live in an area where there are a lot of Mormons, they are generally pretty nice people.  They tend to sort of keep to themselves.   As neighbors, I have found they won’t really talk to you very much.  Unless of course, they are coming around on one of their mission walks, in that case, they come right up to your door, they start asking all kinds of pesky personal questions about God and religion, and they become a little bit annoying.   Otherwise, they make pretty good neighbors, they keep their lawns up, they don’t play a lot of loud music or have loud parties 🙂  Their kids tend to be well behaved, and they don’t steal any of your shit.

So it was with some surprise when I found the Moviepass bash article of the day to be from non-other than Mormonville USA – the BYU owned and operated “The Daily Universe”!     I thought to myself “God dangit now those carrot snappers are going after my Moviepass!  And with this headline.  “MoviePass struggles as industry evolves”  That is about as cold-blooded as nice Mormon folk can get!

Then I thought to myself – they named their paper “The Daily Universe”  Really – Universe?   Seems a little over the top.   But hey – it’s their little cult and they have freedom of speech to say what they want!  This is ‘Merica damn it!

The piece whines like a bishop excommunicated going through all the normal stuff,  the changes, the app hiccups, the troubled stock – etc.

The author takes a quote from a BYU professor making elegant statements like “I think the idea of subscription was novel and innovative,” BYU professor of marketing and entrepreneurship Gary Rhoads said. “I think MoviePass is going to go under most likely, but now other companies are going to learn from their mistakes and be profitable.”

Dang – I thought to myself.  Who is this guy Gary Rhoads? – he must be on top of his game here with Moviepass.  So I did a little Googling on the guy, and one thing I found out, Gary is a momo who knows how to jam!   Check Gary out as he rips a mean beat to Steppenwolf’s “Born to be Wild”

Now that is a Mormon marketing genius who knows how to light it UP!!

Hey – I am sure Doc Gary is a super smart guy, and he has a nice resume to prove it!   The only thing Gary doesn’t have on his rap sheet is any real-world companies he has created, managed or even worked at.  The old axiom of — Those that can’t do – teach – somehow seems fitting here.  Or is it, those who can’t do- consult…   Wait Gary does both.  2 strikes – he’s out 🙂

OK – then there is this doozy of a quote in the piece.

“When a company stock price drops and stays below $1 for 30 consecutive business days, it’s at risk of being delisted,” said Paul Smart, president of private investment company Smart Capital, Inc.

“In this case, NASDAQ will probably notify HMNY, which is the majority stockholder of MoviePass, and give them 180 days to get their stock price back above $1. MoviePass is going to have to act fast.”

Yeh – we get that, and we also know that this is almost 100% bullshit.  The process for delisting is massively long, and there is almost no risk of any delisting happening anytime soon.   Que the RS rumors again here!!

I thought it would be fun to find out more about Paul Smart from Smart Capital Inc.  But that was not possible with the Google machine.  According to Google, there is no Paul Smart from Smart Capital out there.  Maybe it is just a dude from the Ward that the writer knows.   Who knows, maybe it was a friend of a sister-wife or something.   I kid – I know the Mormons don’t have multiple wives anymore.

And that leaves me with my joke of the day.

Q: How do you keep a Mormon from drinking all your beer?

A: Invite another Mormon!

 

One Word On the Vice Story

Vice did a silly eulogy story on Moviepass today. But one important word stood out in that story. “Emotional” — that word says it all. People had an emotional connection to Moviepass as a service, and many still do. Moviepass brought back the magic of going to the theater again to many people. The problem of course, there was a little too much love from too many users, along with scammers and abusers.

But the emotional connection is critical, and it is a very difficult thing for a brand to create. And while part of that was formed from the great deal Moviepass provided. Part of it was simply the joy of seeing films you probably would not have seen, and really enjoying the experience.

I continue to believe 3 movies a month plus a decent discount on top of that will be enough to keep many consumers attached to the service. Will it be the original massive hype of unlimited- no. But it will be good enough to keep the majority of subscribers Moviepass has now, and I am seeing more and more people saying they are still signing up friends and family to the service.

Yes the old Moviepass is dead – Long live the new Moviepass!

A Reader’s Story of How Moviepass Saved His Life

The following story was sent to me by Sean Christopher, a reader of my blog.  Sean’s story is a fascinating one, it demonstrates how Moviepass really made a difference for consumers by making moviegoing affordable again.   Unfortunately, it also chronicles the pain of investing in HMNY.   With Sean’s permission, I am posting his story here.  

This story is 100% TRUE. I’ve never written a day in my life but I needed to tell this story.

I was 19 years old when our country suffered one of the worse disasters of modern history. Imagine just starting your adult life and waking up to witness an event you would only see in movies. I never realize how much that day affected my life until today with 9/11 just days away and being sober for the first time in 16 years. In those 17 years, I suffered from depression, anxiety, and alcoholism. In all that time I tried everything from AA to therapy, but on August 15th, 2017 I came up with a different plan. This is the story of how MoviePass changed my life.
The only thing that truly helped me was going to the movies because movies for me provided an escape from the struggles of my daily life. Whether the film was based on a fantasy or based on a true story, it made me feel like parts of it were made just for me. They would capture my attention as I compared my own struggles with scenes from the movie I was watching. On August 15th, 2017 HMNY acquired MoviePass and made it’s $9.95 unlimited one movie a day monthly subscription debut. My last drink was coincidentally on that very date,  August 16th, 2017 I started to change my life. Depression is the first thing to hit you when you stop using anything that you’ve used for a long time. But now I had a secret weapon that wouldn’t put a hole in my family’s budget. MoviePass!
Every time I had a bad day and felt like having a drink I’d open my MoviePass app to see what was playing. Even if I didn’t go it made me feel better to know I had options to see a potentially good movie without worrying about wasting money. In the first few weeks, I must have seen every movie that was playing in all sorts of theaters in NYC or wherever I was at the time (P.A, N.J). I started to feel much more in control of my life, so I started to go to the movies less and worked on myself more.
I got my income tax refund and had the bright idea of throwing half of it into the stock market via my Robinhood app, I didn’t know that much about stocks and was excited to learn. Boy did I learn when I decided to put my money into a stock that was near and dear to a service that I had grown quite fond of, HMNY.  I jumped in at a little over $3 per share and was more than happy to continue to average down as the stock plummeted to spare change levels. Then came the dreaded 250/1 reverse split and my 13,000 shares became 52, I was devastated, to say the least. I lost over $15,000 – more money than I had ever put away for any reason that didn’t involve a crapload of alcohol. Uh oh, I was now in relapse territory and the depression and anger hit me like a brick to the side of the head. But I didn’t drink. Instead, I chalked it up to a “you live you learn” scenario and started thinking about everything I gained and not what I lost.
I remembered when I looked into the eyes of Ted Farnsworth at the Special Shareholders Meeting on July 23rd, 2018 and he spoke to me directly I knew in my heart that if you don’t want to get eaten by sharks, you don’t swim in the ocean. I hold absolutely no grudges because of my new found wisdom, and I am holding an even larger position in HMNY than I was before at the bottom average. Thus I’m still prepared to lose it all, (as crazy as that may sound) because I am a believer in MoviePass. I want to be there no matter what happens in the end.
I loved movies ever since I was a kid and now MoviePass has made it possible for anyone on a tight budget and a movie lover to see new releases without breaking the bank and have money for concessions.
I was still going to the movies 5-7 times a month but was so much more involved with my own life than I ever was. I only went to see my pay “for’s” and a few “never pay for’s”. But I was still getting a chance to see more movies than I normally could afford to so it worked out. After a summer of great Disney films like Infinity War, Guardians of the GalaxyVolume 2, Black Panther and Christopher Robin, Solo “wasn’t bad” and other Hollywood summer hits like Deadpool, I find myself wanting to watch more Indi films. But the new plan only offers 3 movies monthly now, so I must choose carefully, but still feel no disappointment no matter the outcome.
Three movies a month is more than enough to keep this alcoholic from going picking up a drink, so the new plan doesn’t set me back considering all my life change. If I’m having a busy month and there really isn’t anything I want to see, skipping a month wouldn’t bother me because hey, it’s only $9.95 a month.
So I believe that the new business model could be profitable for both the company and the consumer in the long term and me? For the first time in 17 years, I haven’t had a drink (1 year),  I have money in the bank and lost 25 pounds all because movie theater subscription became a reality.
Thanks MoviePass.
Sean Christopher
I love Sean’s story and hope that he continues to have awesome success with his recovery.  I  hope and pray that HMNY will also recover and deliver a great return for Sean and others.
If you have a story about Moviepass you would like to share – feel free to contact me at – @bvisse on twitter. 

Don’t Look Now! Moviepass Works Great!

All the bitching and complaining from the scammers and past abusers of Moviepass have clogged the headlines for the past several weeks on Moviepass.

The meltdown caused by these freeloading freaks seems to have passed.

The fact is Moviepass IS WORKING! And it’s working pretty damn well! The biggest movies and the new releases are being offered with enough regularity that if you had even a mild interest in any particular film it would be a simple endeavor to find a showing.

Every single film on Box Office Mojo’s top 10 has been or currently is available on MP. A subscription customer wouldn’t miss a beat here.

Peppermint and the Nun has been widely available even at non E-ticket theaters all weekend long. Crazy Rich Asians was also widely available since release.

The app has been totally stable for weeks. And there has been nothing but improving availability for the past 2 weeks.

None of this is getting covered in the press of course, because it does not fit their negative narrative. That too could change, as the press does like a comeback kid. If Moviepass stays stable and announces any surprises the narrative could swing.

This means the nonsense of MP being a service so deprecated nobody will want it is just BS spread by competitors and abusers with sour grapes.

Moviepass works great now, and the fact is it is great deal for consumers.

Tons of options today!

Peppermint- Yep

Nun – Yep!

LA – No Problem

Washington D.C. No Problem

New York – you betcha!