SALT LAKE CITY — Bruce Willis has signed a three-picture deal with MoviePass films, a major move for the company that went viral for once offering unlimited movie theater tickets per day for $9.99 per month.
What’s going on: Deadline reported that Willis signed the deal with MoviePass Films CEOs and co-founders Randall Emmett, George Furla and Ted Farnsworth, with whom Willis worked in the past. The group has made 14 films together.
- “We consider Bruce a part of the MoviePass family at this point. Bruce is not only one of the biggest worldwide movie stars but is also a force to be reckoned with, and we look forward to the future with him,” Emmett said.
The movies: The first film will be called “Trauma Center,” which is still casting and won’t be in production until February.
Willis said: “After 15 years, I look forward to continuing to work with Randall and George in the coming year.”
Context: If you thought MoviePass was just that company that used to offer you unlimited moves for $9.99, you’re not completely wrong. But MoviePass’ parent company, Helios and Matheson Analytics, bought Emmett Furla Oasis films back in May, giving it a film studio. It endorsed the film “Gotti,” which didn’t do well at all.
Trouble for HMNY: The parent company reported third-quarter losses of $137.2 million, which is triple the losses ($43.5 million) it suffered in the same quarter last year, Deadline reported.
- Disclosures from investors said the company suffered such a loss because of a decline in subscribers and the fact that two board members left the company, according to Deadline.
- However, the company itself blamed the Moviefone asset, the creation of MoviePass Ventures (which invests in films) and other MoviePass assets.
- The company said it has an accumulated debt of $377.3 million.
- More net losses are on the way, the company said.
- “While management will look to continue funding operations by raising additional capital from sources such as sales of the company’s debt or equity securities or loans in order to meet operating cash requirements, there is no assurance that management’s plans will be successful,” the company cautioned.
A year for MoviePass: I’ve collected a slew of articles from the Deseret News that piece together much of the timeline of events that led to the downfall of MoviePass and its parent company.
Dec. 21, 2017: Why movie theater chains are 'terrified' of MoviePass1 comment on this story
Jan. 30: Is MoviePass here to stay?