MoviePass Acquires Cinema Service Moviefone to Sign Up New Subscribers
Oath and Verizon take ownership stakes in the upstart movie-ticket-subscription service.
MoviePass and its parent company, Helios and Matheson Analytics, on Thursday said they acquired the cinema service Moviefone from AOL parent company Oath.
Terms of the cash and equity deal were not disclosed. But the transaction will see Oath continue to sell Moviefone’s digital ads and take an ownership stake in MoviePass, the upstart discounted movie-ticket program that offers subscribers a movie ticket per day for just $6.95 a month.
MoviePass CEO Mitch Lowe in a statement said acquiring Moviefone "will help us grow our subscriber base significantly and expand our marketing and advertising platform for our studio and brand partners." Founded in 1989, Moviefone offers movie show times and tickets, trailers and other services to its 6 million average monthly visitors.
"Moviefone provides users with full access to the entertainment ecosystem, from movie theaters to streaming services and on all screens in between," explained Matt Young, vp entertainment at Oath.
"By bringing together MoviePass and Moviefone, entertainment lovers will enjoy the full suite of movie-theater subscription opportunities, discovering, interacting and sharing blockbusters, hit series and underground hits across the worldwide community of film and TV," he added.