Some of Our Sources
- Simplebits
- The Logo Smith
- Smashing Apps
- TutsPlus - Design
- Fuel Your Creativity
- Inspiredology
- Specky Boy
- Web Resource Source
- Willems Lab
- Daily Now
Help Webnuz
Referal links:
May 21, 2018 12:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/8LxvaJMqL84/moviepass-days-look-limited
MoviePass' Days Look Limited
Kyle Stock writes via Bloomberg: Eight months after slashing its price and expanding membership past 2 million users, MoviePass is now at risk of going bust. The parent company, Helios & Matheson Analytics, which now owns 92 percent of MoviePass, said last week that it had just $15.5 million in cash at the end of April and $27.9 million on deposit with merchant processors. MoviePass has been burning through $21.7 million per month. A U.S. Securities and Exchange Commission filing last month revealed that the company's auditor has "substantial doubt" about its ability to stay solvent. Michael Pachter, an analyst at Wedbush Securities Inc., warns that MoviePass may not survive the summertime run of blockbusters. On Tuesday, Helios reported the performance of MoviePass for the three months ending on March 31. The company lost $107 million, earning just over $1 million from marketing deals and $47 million from subscriptions. Helios shares have fallen to decade lows of less than $1 after peaking at $32.90 in October, alongside the MoviePass hype.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/8LxvaJMqL84/moviepass-days-look-limited
Share this article:
Tweet
View Full Article
Slashdot
Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..More About this Source Visit Slashdot