MoviePass, a movie ticket subscription service that's partially owned by Helios and Matheson Analytics Inc HMNY, oversaw some notable moves at the executive level.
What You Need To Know
MoviePass named Khalid Itum, a tech entrepreneur as VP of Business Development and also named Zac Bright as Director of Business Development, according to a Deadline report.
Itum helped MoviePass develop a business strategy over the past three years and will join the company full time. He's tasked with driving revenue through studio and independent distributor partnerships. Bright will also be tasked with oversee cross-functional partnerships with filmmakers, content owners, distributors and other parties.
Why It's Important
Itum brings to the table experience in working with technology startups with a focus on Hollywood, Deadline noted. For instance, he led strategy on the development of Lionsgate and Tribeca Enterprises' over-the-top platform called Tribeca Shortlist.
Bright also brings relevant experience as he oversaw documentary projects including distribution responsibilities at Preferred Content. Prior to that, he worked in CAA's Brand Coverage and Digital Content departments.
What's Next?
MoviePass CEO Mitch Lowe told Deadline the company is growing "at a higher rate than normal" but for some consumers the pros of joining the platform outweigh the cons. Nevertheless, the addition of talented executives may help push the platform to exceed one million users which is what some among Wall Street are already expecting.
Why MoviePass Could Hit 1 Million Users This Year And What It Means For Helios & Matheson
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