Moviepass losses jumped from less than $3 million to $126.6 million in a year
August 14, 2018 | Uncategorized
Moviepass parent Helios & Matheson has quietly posted its quarterly earnings report, revealing that operating losses have ballooned from less than $3 million this quarter last year to $126.6 million in the three month period ending June 30, 2018. Losses undoubtedly stem from Moviepass’ struggle to generate revenue from its theater subscription service, which launched just under a year ago for $9.95 a month after the company sold a majority of its stake to Helios & Matheson.
The report also shows that the Moviepass parent burned through more than $219 million in Q2 2018 — or approximately $73 million a month — with only $51.4 million left. That run rate is more than triple the $21 million a month rate we…
