Helios and Matheson Analytics Inc (NASDAQ:HMNY) has signed an agreement with Emmett Furla Oasis Films to acquire the latter’s film library and the entire production slate. Some of the famous titles in the EFO Films library include Lone Survivor and Broken City. It also has A-List actors such as Ellen Burstyn, Anna Kendrick, Leelee Sobieski, Kate Bosworth, Al Pacino, Robert De Niro, Nicolas Cage, Denzel Washington, John Travolta, Arnold Schwarzenegger, Bruce Willis, Sylvester Stallone, 50 Cent and Mark Wahlberg. Helios and Matheson Analytics is the parent company and majority shareholder of MoviePass. After the acquisition, MoviePass will change to become MoviePass Films LLC.
Getting moviegoers back to the theaters
Though their acquisition, MoviePass is working on its plan of increasing its stake and profits in the movie industry. The move is aimed at getting movie enthusiasts back into the movie theater. Before this acquisition, the company had made some steps into the movie industry by purchasing distribution rights to several films like The Orchard’s “American Animals” at Sundance. In addition, the company has a seven-figure stake equity stake in Deadline, a John Travolta “Gotti” film.
Through the 3 million subscribers on its app, MoviePass is promising movie distributors that it has enough audience from where it will generate revenue from channels like streaming and international distribution, music, merchandising among other ancillary rights.
Driving studio-driven content
Following the acquisition, MoviePass Films will shift its attention into generating studio-driven content and movie production mainly for theatrical launch as well as other movie distribution channels. MoviePass Films will be headed by Hollywood veterans George Furla and Randall Emmett as co-CEOs. The chairman of the board of directors of MoviePass Films will be Ted Farnsworth. Mitch Lowe will also sit on the company’s board. Lowe and Farnsworth will jointly work on executing the day-to-day businesses as well as strategy of between MoviePass and MoviePass Films.
In a statement, Ted Farnsworth said that since the acquisition of American Animals, which will be launching in June, the company has been for opportunities to acquire and produce movies on a large scale. He added that they are optimistic that such an opportunity will be achieved through Emmett Furla Oasis Films.