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MoviePass parent company says it needs $1.2 billion; heres why MoviePass is the problem
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As Bloomberg reported, MoviePass, which helps feed peoples film habits by giving them movie theater passes for a monthly fee, recently dropped its monthly subscription price to $9.95... - photo by Herb Scribner
Herb Scribner
Deseret News
Published: Jul 4, 2018, 10:39 AM
The future of MoviePass doesnt look so bright.

The subscription services parent company Helios and Matheson said Monday it needs $1.2 billion. The company hopes it can raise the funds through selling stock and debt securities.

MoviePass is a subscription service that jumped in popularity after it started offering one movie ticket every day for $10 per month. However, the company has continued to change its subscription plans since it often loses money on each subscriber.

HMNYs stock dropped to $0.22 Monday after the new filings came to light.

As the Deseret News reported, HMNY said the company spends about $21.7 million per month on MoviePass. At the time, the company only had $15.5 million cash on hand.

According to CNN, HMNY spent $40 million on MoviePass in May alone.

HMNY said the MoviePass business model was highly uncertain.

We are unable to estimate the actual funds we will require, the company said, according to Bloomberg.

MoviePass currently has about 3 million paid subscribers, according to the Deseret News, with hopes of reaching 5 million by the end of the year. MoviePass hopes to add a family plan, surge pricing and bring-a-friend options to help reach new customers to offset costs.

MoviePass has even purchased a movie production company, called Oasis Films, to help with revenue too.

But even that has shown problems. One of the production companys latest films, John Travoltas Gotti, flopped at the box office, meaning MoviePass may have lost money on the film.

MoviePass may be its own worst enemy. Writer Rob Lefebvre of Engadget opined that MoviePass rash decisions often hurt the companys public profile and lead to fewer subscribers.

For example, MoviePass CEO Mitch Lowe found himself in hot water after he said the company collected public data on its users. The company then changed its plan to three movies per month before switching it back, causing an uproar among users.

Making sweeping policy changes on the fly seems to be how MoviePass rolls, and it's pretty annoying, Lefebvre wrote. Look, I generally know that companies like this can change things up as they go without warning; it's in the terms of service somewhere. What MoviePass really needs to do is to keep customers like me happy, not sell more equity.

Lefebvre wrote that other companies have started similar plans like this one, this one and, oh yeah, this one which may be more suited for customers who dont like the constant change in policies and procedures.
Its toxic: New study says blue light from tech devices can speed up blindness
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A new study from the University of Toledo found that blue light from digital devices can transform molecules in your eyes retina into cell killers. - photo by Herb Scribner
Herb Scribner
Deseret News
Published: Aug 13, 2018, 1:39 PM
It turns out checking Twitter or Facebook before bed is bad for your health.

A new study from the University of Toledo found that blue light from digital devices can transform molecules in your eyes retina into cell killers.

That process can lead to age-related macular degeneration, which is a leading cause of blindness in the United States, according to the researchs extract.

Blue light is a common issue for many modern Americans. Blue light is emitted from screens, most notably at night, causing sleep loss, eye strain and a number of other issues.

Dr. Ajith Karunarathne, assistant professor in the UT Department of Chemistry and Biochemistry, said our constant exposure to blue light cant be blocked by the lens or cornea.

"It's no secret that blue light harms our vision by damaging the eye's retina. Our experiments explain how this happens, and we hope this leads to therapies that slow macular degeneration, such as a new kind of eye drop, he said.

Macular degeneration is an incurable eye disease that often affects those in their 50s or 60s. It occurs after the death of photoreceptor cells in the retina. Those cells need retinal to sense light and help signal the brain.

The research team found blue light exposure created poisonous chemical molecules that killed photoreceptor cells

"It's toxic. If you shine blue light on retinal, the retinal kills photoreceptor cells as the signaling molecule on the membrane dissolves," said Kasun Ratnayake, a Ph.D. student researcher working in Karunarathne's cellular photo chemistry group. "Photoreceptor cells do not regenerate in the eye. When they're dead, they're dead for good."

However, the researchers found a molecule called alpha-tocopherol, which comes from Vitamin E, can help prevent cell death, according to Futurism.

The researchers plan to review how light from TVs, cellphones and tablet screens affect the eyes as well.

"If you look at the amount of light coming out of your cellphone, it's not great but it seems tolerable," said Dr. John Payton, visiting assistant professor in the UT Department of Chemistry and Biochemistry. "Some cellphone companies are adding blue-light filters to the screens, and I think that is a good idea."

Indeed, Apple released a Night Shift mode two years ago to help quell blue lights strain on the eyes, according to The Verge. The screen will dim into a warmer, orange light that will cause less stress on the eyes.