Helios & Matheson owns MoviePass, which operates a subscription service for movie tickets. The service has been burning through cash, and the company has been experimenting with pricing and plans to retain customers. MoviePass’ parent secured an additional $63 million in funding this week, which the company confirmed but did not detail. CEO Ted Farnsworth said the company is pursuing M&A and looking at acquisitions to grow the business. In the short term the funding is intended to keep the lights on while MoviePass adjusts expectations and attempts to become profitable; Farnsworth said subscription alone is currently "doing just fine". The company also plans to create original content in the vein of Netflix and has completed at least one acquisition, Gotti.

Total raised

$63M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2018