by: Elizabeth Balboa, Benzinga Staff Writer
Helios and Matheson Analytics Inc HMNY 10.03% spiked mroe than 12 percent Monday after MoviePass announced a new revenue opportunity — a deal with an undisclosed independent movie distributor to promote a particular film for performance-based compensation.
The added revenue source and active effort to influence moviegoing behavior may abate Street skepticism of the MoviePass model.
MoviePass Proves Its Worth
MoviePass boasts of success in previous marketing campaigns, which corresponded with a 53.3-percent increase in ticket sales for Amazon.com, Inc. AMZN 0.31%’s “Last Flag Flying” and a 48.3-percent increase for Bleecker Street’s “The Man Who Invented Christmas” against non-targeted consumer control groups.
Its representation among ticket sales for both “Justice League” and “Coco” marginally increased after opening weekend even as total attendance slipped. The firm also accounted for 13.21 percent of opening-weekend sales for “Roman J. Israel Esquire” and 10 percent for “Three Billboards Outside Ebbing, Missouri.”
“Our data shows that MoviePass has a demonstrable impact on revenue figures and percentage contributions to overall box office receipts for both major studio releases and independent films during Opening Weekend," Lowe said in the release.
Helios and Matheson traded recently at $9.44, up 11.4 percent.
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