Former MoviePass chairman Ted Farnsworth joins digital media firm Vinco Ventures as co-CEO – Reuters

Helios and Matheson Analytics CEO Ted Farnsworth

Erik Gruenwedel

Vinco Ventures, a digital media and content technology holding company, announced on July 14 the appointment of Ted Farnsworth as co-CEO alongside Lisa King, current CEO of Vinco Ventures. Farnsworth and King will lead the company as co-CEOs.

Farnsworth, who infamously tried to bring the subscription revenue business model to the theatrical movie industry through the short-lived MoviePass, has resurfaced through his ZASH Global Media and Entertainment Company. ZASH recently merged with Vinco and, along with ZVV Media Partners, acquired AdRizer and Lomotif, the latter of which helps users create social media videos.

Vinco press releases claim that Farnsworth has “built many successful businesses and is considered an expert in strategy development, marketing, public relations, consumer behavior and direct response marketing”.

Farnsworth left MoviePass when the platform’s parent company, Helios and Matheson Analytics, filed for bankruptcy in 2020 after blowing hundreds of millions of dollars of investor money, leading to litigation and an FTC complaint.

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“I speak for myself and for the entire Vinco team when I say how thrilled we are to welcome Ted to the leadership as official co-CEO,” King said in a statement. “Vinco and ZASH have started to streamline our operations. With Ted as co-CEO, together we can more effectively execute our strategic growth plans with a clear understanding of our company’s combined vision and plan. »

Part of Vinco’s growth strategy is Lomotif in combination with AdRizer and Mind Tank, a short-form video platform, according to Vinco, that boosts user experiences with its patented interface and editing tools. Using Lomotif’s mobile or web platform, Vinco says the platform’s advertising and marketing tools can help drive engagement and increase revenue with premium content in its ecosystem.

Farnsworth and King face a difficult corporate relationship. Vinco ended its last three-month fiscal period with a net loss of $379.1 million on revenue of $11.5 million. The company’s shares are trading around the SEC’s lower threshold of $1 per share.

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