MoviePass announced at Sundance that it will officially get into the film rights business. MoviePass Ventures will acquire film rights and build out their offerings, and they have started scouting at the festival.
Ted Farnsworth is the chairman and CEO of Helios and Matheson, the parent company of MoviePass. He joins Cheddar from Sundance to explain the new initiative.
Farnsworth says this has been the plan since day one. When the announcement was made at Sundance, it immediately became a big buzz. Farnsworth says MoviePass is, "totally disrupting the whole market." MoviePass has already started to bid on some products at Sundance.
When asked if MoviePass intends to increase the price above $10, Farnsworth says he is happy with where it is now. Growth has been strong and there is no advertising, so growth has been completed from word of mouth. Farnsworth explains that MoviePass may look into more premium membership plans, but are keeping the price where it is for now.
MoviePass' focus for now: continue to build their subscription base.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
Starbucks’ AI barista aims to speed service and improve experience. Nick Lichtenberg, Fortune Business Editor, explains its impact on workers and customers.
As Big Tech reports Q3 earnings, investors await proof that massive AI and cloud investments from Meta, Apple, Microsoft, and Alphabet are driving real growth.
Eric Trump joins us to discuss American Bitcoin’s mission, market strategy, and why he believes the U.S. must lead the next era of digital currency innovation.
Unreal Snacks CEO Kevin McCarthy shares how dye-free candy is leading the sweets revolution—just in time for what could be a record-breaking Halloween 2025.
In a daring daylight robbery on Sunday, thieves used a basket lift to scale the Louvre’s facade, smash display cases, and steal eight priceless jewels.
