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☆ Before MoviePass (and since), Ted Farnsworth has had a string of failed businesses. Here's a timeline.
▼ + stars: | 2024-05-30 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +1 min

Ted Farnsworth is the former CEO of Helios and Matheson Analytics, which previously was the parent company of MoviePass. The documentary "MoviePass, MovieCrash" shows how he blew through hundreds of millions of dollars. He and former MoviePass CEO Mitch Lowe are awaiting trial on charges of securities fraud. AdvertisementIn the new HBO documentary "MoviePass, MovieCrash," Ted Farnsworth is the CEO of the publicly traded Helios and Matheson Analytics (HMNY) when the company takes a majority stake in the movie-theater-subscription startup MoviePass in 2017. Under Farnsworth's watch, MoviePass became a sensation after he and then-CEO Mitch Lowe dropped the monthly subscription fee from $30 a month to $10.

Persons: Ted Farnsworth, Helios, Matheson, Mitch Lowe, —, MoviePass, Farnsworth, Lowe Organizations: Matheson Analytics, Service, HBO, Netflix, Business

☆ 'MoviePass, MovieCrash' showcases the catastrophic behind-the-scenes story of the movie-ticket subscription app
▼ + stars: | 2024-05-16 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +1 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe upcoming HBO documentary, "MoviePass, MovieCrash" chronicles the meteoric rise and fall of the movie-ticket subscription company MoviePass. This story is available exclusively to Business Insider subscribers. (Both Lowe and Farnsworth were charged with securities fraud in 2022 and are awaiting trial.) "MoviePass, MovieCrash" is produced by Assemble Media and Mark Wahlberg's Unrealistic Ideas ("McMillions").

Persons: —, MoviePass, Stacy Spikes, Spikes, Hamet Watt, Mitch Lowe, Ted Farnsworth, Lowe, Farnsworth, Mark Wahlberg's Organizations: Service, HBO, Netflix, Business, Helios, Matheson Analytics, Media

☆ How the businessman who blew up MoviePass tried to create a 'TikTok killer' and cost investors millions
▼ + stars: | 2024-04-01 | by ( Ashley Rodriguez | Jason Guerrasio | ) www.businessinsider.com time to read: +22 min

At Vinco, Farnsworth employed several of the same tactics that he had at MoviePass and at his earlier ventures. "Ted took these press releases and really treated them like they were works of art for him," Matt Argall, a former advisor to Farnsworth, told BI. Hudson Bay has not been served the lawsuit as of the publication of this story. "Hudson Bay's investment in Vinco Ventures was a standard, fixed price convertible loan of which millions remain unpaid," Hudson Bay told BI in a statement. "If served, Hudson Bay will seek to have these baseless, factually flawed and frivolous claims, which have been repeatedly dismissed in other proceedings against other parties, dismissed expeditiously."

Persons: MoviePass, Ted Farnsworth, Maria Bartiromo, he'd, Farnsworth, Jaeson Ma, Ted Farnsworth playbook, Ted, Barnum, John Fichthorn, I've, Shadwrick Vick, Rudy, Vick, Roderick Vanderbilt, who's, hocking, La Toya Jackson, Helios, Matheson, Brian Quinn, Farnsworth's, Michael Hartstein, Vinco, Matt Argall, Mitch Lowe, Reuters Farnsworth, David, Goliath, TikTok, We're, Argall, Elton John, Jamie McCarthy, Lomotif, Lil Nas X, Snoop Dogg, Grimes, Zash, Allan Stern, Get2it, Stern, Robert N, Scola Jr, Scola, he's, —, Lowe, Getty, Dave Kotinsky, Stringer Vinco, expeditiously, Farnsworth —, Vanderbilt, Jesse Law, Katherine Long Organizations: Fox Business, Hollywood, Business, Zash Global Media, Entertainment, Vinco Ventures, Fox, Hudson Bay, BI, Helios, Matheson, Matheson Analytics, Boston College Law School, Palladium Capital Group, Vinco, BHP Capital, Armistice, CVI Investments, National Enquirer, Reuters, AMC Theatres, AMC, Gemini Valuation, Hudson, Eightco Holdings, Elton John AIDS Foundation, 91st, EDC, Tampa Marriott, SEC, Publishing, National Examiner, Globe, The New York Times, Southern, Southern District of, Bloomberg, Bay, Vanderbilt, Federal Bureau of Investigation Locations: Hudson, Vinco, Zash, Hudson Bay, China, Syracuse , New York, Lomotif, Syracuse, West Hollywood , California, Vegas, Tampa, Argall, Boston, India, The, Miami, MoviePass, Southern District, Southern District of Florida, New York

☆ A publicly traded media venture with ties to MoviePass' former chairman has been suspended from Nasdaq and its stock is in free fall
▼ + stars: | 2023-08-02 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

Embattled digital-media company Vinco Ventures has been suspended by Nasdaq after a board exodus. It became a meme stock in 2021 after teaming up with the ex-chairman of MoviePass and touting buzzy acquisitions. The future of Vinco Ventures, the publicly traded media venture with ties to ex-MoviePass chairman Ted Farnsworth, is hanging in the balance after a series of buzzy deals collapsed and a board exodus has put the stock on the brink of a Nasdaq delisting. Shares of Vinco have nosedived 99% since their recent peak in September 2021, when meme-stock investors helped propel the stock. Farnsworth led the 2017 acquisition of MoviePass as chairman and CEO of the then-publicly-traded company Helios & Matheson Analytics, or HMNY for short.

Persons: Ted Farnsworth, we've, Shadwrick Vick, Farnsworth, Vick, It'd, Vinco, They're, Mitch Lowe, Lowe, MoviePass, Chris Bond, Mr Organizations: Vinco Ventures, Nasdaq, Zash Global Media, Entertainment, National Enquirer, Street Journal, MoviePass, Helios, Matheson Analytics Locations: Vinco, Clark County , Nevada

☆ MoviePass has landed a deal with Walmart to sell subscriptions in stores across the country
▼ + stars: | 2023-04-24 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +4 min

MoviePass will be available at Walmart, several sources familiar with the deal told Insider. MoviePass relaunched last year in beta form and plans to be available to all customers by the summer. MoviePass will have displays in Walmart stores across the country where its subscription cards will be available for shoppers, sources said. No details were given to Insider about what the offer on the MoviePass Walmart cards will be, or when the cards will be available in stores. "This is a huge win for MoviePass and for the theatrical movie business," Comscore senior media analyst Paul Dergarabedian told Insider.

☆ A former MoviePass exec has been arrested and charged with wire fraud and money laundering, the third to be indicted in recent months
▼ + stars: | 2023-02-23 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +4 min

A former MoviePass exec was arrested Tuesday on allegations that he embezzled $260,000 from its former parent company. Khalid Itum was charged with two counts of wire fraud and two counts of money laundering. According to the indictment, Itum, 42, registered the Los Angeles-based company Kaleidoscope Productions LLC in 2017 that provided production and marketing services. Itum was arrested by the FBI and has been charged with two counts of wire fraud and two counts of money laundering. In November, Farnsworth and Lowe were charged in a securities fraud case by the Department of Justice on one count of securities fraud and three counts of wire fraud.

☆ MoviePass is planning to relaunch with an unlimited option
▼ + stars: | 2023-01-25 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +3 min

MoviePass is working on an unlimited option in its new beta form. Spikes said MoviePass will leave beta and be available to the general public by the summer. During an interview with Insider, cofounder Stacy Spikes revealed that the movie-ticket-subscription service is working on an unlimited plan. "In at least two the unlimited option is being tested. Spikes told Insider he plans to open up MoviePass to the general public by the summer.

☆ Former MoviePass executives face fraud charges
▼ + stars: | 2022-11-06 | by ( Jennifer Korn | ) edition.cnn.com time to read: +4 min

The men each face one count of securities fraud and three counts of wire fraud with a maximum of 20 years in prison. Farnsworth had a first appearance in DC District Court Friday after he voluntarily turned himself in. But MoviePass’ business model was at best unsustainable — and at worst nonexistent. Spikes helped found MoviePass before being pushed out in 2018 after selling the company to HMNY. Details remain scarce, but the company says the new MoviePass will have three pricing tiers that will cost $10, $20 or $30, depending on the market.

☆ Ex-MoviePass Executives Are Charged in Securities Fraud Case
▼ + stars: | 2022-11-05 | by ( Denny Jacob | ) www.wsj.com time to read: 1 min

MoviePass, a Netflix-like subscription service for movie theaters, made a splash in 2017 when it made its debut. Former executives at MoviePass and its prior parent company were charged in a securities fraud case, accused of defrauding investors, the Justice Department said Friday. Former MoviePass CEO J. Mitchell Lowe and Theodore Farnsworth , who led Helios & Matheson Analytics Inc., the movie-subscription company’s parent at the time, are accused of engaging in a fraudulent scheme to inflate the company’s stock and attract new shareholders, the Justice Department said.

☆ Federal prosecutors charge ex-CEOs of MoviePass, parent company in alleged fraud scheme
▼ + stars: | 2022-11-04 | by ( Sarah Whitten | ) www.cnbc.com time to read: +4 min

Former executives at MoviePass and its parent company have been charged with fraud, according to a federal indictment that was unsealed Friday. MoviePass skyrocketed to popularity in 2017 because of its seemingly too-good-to-be-true unlimited movie pass that initially offered customers one movie voucher per day for $30 to $40 a month. However, many MoviePass subscribers began to use the service too frequently and the company started to lose money quickly. According to the DOJ document, the pair also allegedly knew that the price of MoviePass' unlimited plan would not be enough to offset losses. Instead, the pair had directed employees to implement tactics to prevent subscribers from using their unlimited service, according to prosecutors.

☆ Former MoviePass executives sued by the SEC, which alleges they made 'false or misleading statements' to the public
▼ + stars: | 2022-09-27 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +3 min

The SEC is suing former MoviePass executives Mitch Lowe and Ted Farnsworth. The suit claims they made "false and misleading statements" about the company being profitable. In a complaint filed late Monday, reviewed by Insider, it claims that the duo made "false or misleading statements" in financial filings and in the press. Itum is accused of submitting false invoices and receiving more than $310,000 from both MoviePass and HMNY. Last June, Farnsworth and Lowe settled with the FTC and reached a $400,000 settlement with the California district attorneys.

☆ The definitive story of how a controversial Florida businessman blew up MoviePass and burned hundreds of millions
▼ + stars: | 2019-09-13 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +28 min

In 2017, he became the CEO of data company Helios & Matheson Analytics. At that price MoviePass would start losing money when a subscriber used the service more than once a month. MoviePass CEO Mitch Lowe and Helios & Matheson CEO Ted Farnsworth after the company hit 1 million subscribers. The same day MoviePass reached 1 million subscribers, a milestone it hit faster than Netflix and Hulu. Related storiesTo draw a crowd, MoviePass blasted out an invitation to the Big Boi show to its then 2 million subscribers.

Persons: John Travolta, He'd, " Gotti, John Gotti, Travolta, Ted Farnsworth, Mitch Lowe, who'd, he'd, Farnsworth, Lowe, Gotti, Dave Kotinsky, Samantha Lee, Stacy Spikes, Spikes, Spikes wasn't, MoviePass, —, Ava DuVernay, Malcolm D, Lee, Hulu, Hamet Watt, Chance Yeh, He's balding, He's, Ted I, La Toya Jackson, couldn't, Matheson, Watt, Helios, Mitch, Ted, MoviePass swag, Dennis Rodman, Jerry Media, hite, Boi, ann u, abi l, tim e, red tha, ord, ul, hal, ove, flo, ann o, bec, lon, Jen, liv, dre Organizations: HBO, Manhattan's SVA, Helios, Matheson Analytics, Netflix, Matheson, MoviePass, SEC, Sony, Miramax, Loews Cineplex, Spotify, Pandora, AOL, True Ventures, Business, Ventures, AMC, Federal Communications Commission, Matheson's, Reuters, Hulu, Coachella Valley Music, Arts Festival, Jerry, acc, pla Locations: Manhattan's, MoviePass, Houston , Texas, San Francisco, America, New York, Florida, India, New, Palm Springs , California, Coachella, fes, ord, pla, Mo

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