Helios and Matheson Analytics
Corporate brand
UnclaimedHelios and Matheson Analytics was a U.S. data analytics company best known for owning and operating MoviePass before entering Chapter 7 bankruptcy.
Last updated November 4, 2026
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Overview
Helios and Matheson Analytics Inc. was a New York-based data analytics and technology company whose corporate history spanned information-technology consulting, mobile applications, entertainment websites, film production, and subscription cinema. Founded in 1983 by Shmuel BenTov as Software Ben-Tov, the business changed its name to The A Consulting Team later that year and completed an initial public offering in 1997. Its original activities were associated with technology consulting and software-related services rather than consumer entertainment. A major structural change occurred in 2006, when Helios & Matheson Information Technology Ltd., an India-based IT consulting company headquartered in Chennai, acquired a majority interest. The U.S. company adopted the name Helios and Matheson North America in 2007 to emphasize the relationship. It changed its name again in 2011 to Helios and Matheson Information Technology Inc., reflecting an effort to pursue opportunities beyond its original market, and in 2013 became Helios and Matheson Analytics. The latter name signaled management's stated intention to broaden the business beyond conventional IT services and toward analytics-oriented ventures. The company’s defining transformation began with its acquisition of Zone Technologies in November 2016. Zone developed the RedZone Map application, and its founder, Ted Farnsworth, became chairman of Helios. Farnsworth became chief executive officer in January 2017. Under this leadership, the company increasingly used acquisitions, equity financing, and operating subsidiaries to build a portfolio of consumer-facing technology and entertainment businesses. In August 2017, Helios acquired a majority stake in MoviePass, a subscription service that enabled customers to attend participating cinemas for a recurring fee. MoviePass became the company's central asset and the principal driver of its public identity. The service's unusually low-priced plans generated rapid consumer interest but also produced intense scrutiny of its economics and of Helios's financing requirements. Between December 2017 and February 20, 2018, Helios advanced MoviePass $55 million; the advances were converted into equity, increasing Helios's ownership from 62.4 percent to 81.2 percent. A further $35 million capital contribution increased its stake to 91.8 percent and enabled the Helios board to initiate a merger process. MoviePass co-founder Stacy Spikes was dismissed in January 2018. Helios expanded its entertainment portfolio in 2018. In April it acquired Moviefone, a movie-listings and entertainment-information website, from Oath Inc., Verizon's digital-media subsidiary. Verizon received an equity interest in MoviePass as part of the transaction. Helios also acquired assets of Emmett Furla Oasis Films, creating or supporting the MoviePass Films subsidiary and adding film-production capabilities. At the same time, the company considered separating Zone Technologies so that its shareholders could hold a separately traded business while Helios concentrated on entertainment and related activities. The MoviePass strategy placed heavy demands on Helios's finances and contributed to a collapse in investor confidence. In April 2018 the company sold $150 million of stock, including shares issued at a discount to the prevailing market price, with much of the proceeds intended to support MoviePass. Helios later reported a $100 million loss for the second quarter of 2018. In October 2018, the New York attorney general opened an investigation into whether the company had misled investors about its financial condition. Helios disclosed a preliminary plan to separate its film-related businesses into MoviePass Entertainment Holdings, but the proposed restructuring did not restore the company. Helios's stock was delisted from Nasdaq on February 12, 2019, and began trading over the counter. On January 28, 2020, the company filed for Chapter 7 bankruptcy and announced plans to close. Its trajectory is therefore generally understood as a transition from an established technology-services issuer into an acquisition-driven entertainment venture whose dependence on MoviePass became unsustainable.
History
Helios and Matheson Analytics originated in 1983 as Software Ben-Tov, founded by Shmuel BenTov. The company changed its name to The A Consulting Team during its first year and later became a publicly traded company through a 1997 initial public offering. Its early identity was rooted in software and information-technology consulting. In 2006, Helios & Matheson Information Technology Ltd. of Chennai acquired a majority stake. The U.S. company adopted the Helios and Matheson North America name in 2007, changed to Helios and Matheson Information Technology Inc. in 2011, and adopted Helios and Matheson Analytics in 2013. These changes accompanied an attempt to move from a narrowly defined IT-services identity toward broader technology and analytics opportunities. The company shifted direction after buying Zone Technologies in November 2016. Zone operated the RedZone Map application. Ted Farnsworth, Zone's founder, joined Helios as chairman and became chief executive in January 2017. The acquisition marked the beginning of a strategy centered on consumer-facing technology and entertainment assets. Helios bought a majority stake in MoviePass in August 2017. MoviePass's low-cost cinema-subscription model rapidly increased the visibility of both the service and its parent company, but also generated large funding requirements. Helios provided MoviePass with substantial advances that were converted into equity, eventually raising Helios's ownership to 91.8 percent. MoviePass co-founder Stacy Spikes left the company after being dismissed in January 2018. During 2018, Helios acquired Moviefone from Oath Inc. and acquired assets of Emmett Furla Oasis Films for a MoviePass film-production subsidiary. It also explored separating Zone Technologies into an independently traded company. Helios raised additional capital through a discounted stock offering, much of which was directed toward MoviePass. The financing and the service's operating model contributed to shareholder concern and severe pressure on the company's market value. The company reported a large loss for the second quarter of 2018. In October of that year, the New York attorney general began an investigation into possible investor misrepresentation. Helios also proposed separating its film businesses into MoviePass Entertainment Holdings. The plan did not prevent further deterioration. Nasdaq delisted the company's stock in February 2019, after which it traded over the counter. Helios filed for Chapter 7 bankruptcy on January 28, 2020, and announced that it would close.
- 2020
Chapter 7 bankruptcy and closure plan
[1]Helios filed for Chapter 7 bankruptcy and announced plans to close.
- 2019
Nasdaq delisting
[1]The company's shares were delisted from Nasdaq and moved to over-the-counter markets.
- 2018
Moviefone and film assets added
[1]Helios acquired Moviefone and assets associated with Emmett Furla Oasis Films.
- 2017
MoviePass becomes a controlled subsidiary
[1]Helios acquired a majority stake in MoviePass and increasingly centered its strategy on the cinema subscription business.
- 2016
Zone Technologies acquired
[1]Helios acquired Zone Technologies, developer of the RedZone Map application.
- 2013
Renamed Helios and Matheson Analytics
[1]The company adopted a name intended to reflect expansion beyond traditional IT activities.
- 2006
Majority stake acquired by Helios & Matheson Information Technology
[1]The India-based IT consulting company acquired a controlling interest in the U.S. business.
- 1997
Initial public offering
[1]The company completed its initial public offering.
- 1983
Company founded as Software Ben-Tov
[1]Shmuel BenTov founded the business as Software Ben-Tov; it was renamed The A Consulting Team later that year.
Products and positioning
An acquisition-driven technology and analytics company that repositioned itself around consumer entertainment, cinema subscriptions, digital movie information, and film production.
Cinema subscription service
MoviePass
MoviePass was a recurring subscription service that gave members access to participating movie theaters. It became Helios's principal consumer business after the company acquired a majority stake in 2017. The service's aggressive pricing and rapid growth created substantial attention, but its economics required continuing capital support and became closely associated with Helios's financial deterioration.
Movie listings and entertainment website
Moviefone
Moviefone provided movie information and listings and was acquired from Oath Inc. in 2018. Helios viewed the property as a complementary digital-media asset for its cinema and entertainment portfolio. The transaction connected Moviefone with the broader MoviePass strategy and included an equity interest for Verizon.
Mobile location and mapping application
RedZone Map
RedZone Map was a mobile application developed by Zone Technologies. Helios acquired Zone in 2016 as part of its move toward consumer-facing technology assets. The company later considered spinning Zone Technologies out so that Helios could concentrate more directly on its entertainment operations.
Film production subsidiary · 2018
MoviePass Films
MoviePass Films was created around assets acquired from Emmett Furla Oasis Films. The proposed structure gave Helios a controlling interest and brought film-production expertise into the company's entertainment portfolio. It was intended to complement MoviePass and related movie-information businesses.
Controversies
2018
New York attorney general investor-misrepresentation investigation
The New York attorney general opened an investigation into whether Helios and Matheson Analytics had misled investors about the company's financial condition during the period when MoviePass drove its financing needs and market valuation.
Brand decisions
2020
File for Chapter 7 bankruptcyOtherBackground
After severe financial pressure, a falling share value, and the collapse of its MoviePass-centered strategy, Helios could not continue as a going concern.
Action taken
The company filed for Chapter 7 bankruptcy and announced plans to close.
Aftermath
The filing marked the end of Helios and Matheson Analytics as an operating public company.
2018
Increase ownership of MoviePass through equity conversionM&ABackground
Helios provided MoviePass with advances as the subscription business required additional capital.
Action taken
The advances were converted into equity, increasing Helios's ownership first to 81.2 percent and later to 91.8 percent.
Aftermath
The increased ownership enabled the Helios board to initiate a merger process but also concentrated the company's financial exposure to MoviePass.
2018
Propose separation of entertainment assetsStrategyBackground
The market increasingly valued Helios according to the performance and prospects of MoviePass and its related entertainment businesses.
Action taken
Helios proposed spinning off its film-industry units into MoviePass Entertainment Holdings while retaining a controlling interest.
Aftermath
The proposed separation did not prevent the company's subsequent delisting and bankruptcy.
Sources1 sources
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