MoviePass recently surpassed the 1 million subscriber mark. The movie ticket subscription service boasts major gains since decreasing its price this summer.
Mitch Lowe is the CEO of MoviePass, and he joins Cheddar to explain why the company has experienced such growth. Lowe explains that the pass is a great deal for most consumers if they go to the movie theater once a month.
This summer, Helio and Matheson acquired a majority stake of the subscription company and since has had a turbulent run. HMNY has experienced major dips in recent weeks. Lowe, as the CEO of MoviePass, said he was unable to reflect on the parent company's stock movement, but feels confident that MoviePass revenue and the data potential associated with the service could prove useful for HMNY.
Stocks closed higher on Wall Street as earnings reporting season got underway and CEOs began to show how well or poorly they’re navigating high inflation and a slowing economy.
Here is a rundown of Cheddar News' top market stories of the day.
Warner Bros. Discovery said it's raising the monthly fee of HBO Max to $16 from $15.
Cassette sales shot up nearly 30% in 2022, with Guardians of the Galaxy Vol 2. soundtrack as the top sale.
Barbara A. Friedberg, CEO at Wealth Media joined Cheddar News to discuss I-bonds, which are issued by the government, and how yields are adjusted.
Walmart is partnering with Salesforce to sell delivery technology to retailers.
Home Depot is changing its hourly pay policy after several pay-related lawsuits.
Subway could be gearing up for a sale that could value the company at $10 billion, according to reports.
Greg McBride, chief financial analyst at Bankrate.com, joined Cheddar News to discuss inflation trends. “I think with strong confidence that peak inflation is behind us, the trend is definitely one towards continued improvement but we've got a long way to go,” he said.
