MoviePass Parent Company Sees Stock Plunge as Cash Runs Out

The company said it has $15.5 million in cash with another $27.9 million owed to it by the merchant processors who have collected MoviePass payments. MoviePass, which famously sells 30 tickets for the price of one, is taking a tremendous toll on parent company Helios and Matheson Analytics, which said Tuesday its cash reserves are running low, a revelation that…

Shawn Mendes Announces Self-Titled International Arena Tour

Attention, Mendes Army: Shawn Mendes has announced a lengthy list of dates for his massive self-titled arena tour. Shawn Mendes: The Tour will kick off next March, and will take the singer/songwriter through multiple countries across Europe before heading through North America, finally ending in New York City in August of next year. The tour supports Mendes’ highly-anticipated self-titled album, from which he’s…

PopSugar Lays Off 19 Staffers Amid Cost-Cutting Moves

Digital entertainment publisher PopSugar laid off 19 staffers on Tuesday as part of an organisation-wide effort to achieve profitability this year, a company spokeswoman confirmed to MM. “We made the hard decision today to say goodbye to 19 people, roughly 5 percent of our team,” the spokeswoman said. “This was done to achieve profitability.” The company, which was founded in 2006 by…

Rich Music LTD Signs Distribution Deal With INgrooves

The indie Latin label is home to such acts as Justin Quiles, DJ Flow, Dalex and Magnifico. Indie distribution and marketing company INgrooves has signed a long-term distribution deal with Rich Music. Rich, which was nominated for Latin Rhythm Albums label of the year at the 2017 Billboard Latin Music awards, is home to Justin Quiles, DJ Flow, Dalex and Magnifico.…

Disney Seeks New Frontiers as More People Watch Video Online

Disney is seeking new frontiers. The media company launched its $5-a-month sports streaming service, ESPN Plus, last month, and it signed a deal with Twitter this month to create Marvel, ABC and ESPN content on that service. Meanwhile, Disney is trying to buy much of 21st Century Fox, including the Fox television network and the X-Men movie franchise. The moves…

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