Expected next investor conference call information:
Conference Call Date: 11/4/2009
Conference Call Time (ET): 9:00 AM
Conference Call URL: http://www.hollywoodmedia.com/conference_calls.htm

Expected next investor conference call information:
Conference Call Date: 11/4/2009
Conference Call Time (ET): 9:00 AM
Conference Call URL: http://www.hollywoodmedia.com/conference_calls.htm

Expected next investor conference call information:
Conference Call Date: 11/4/2009
Conference Call Time (ET): 9:00 AM
Conference Call URL: http://www.hollywoodmedia.com/conference_calls.htm

Loss from continuing operations for the 2009 third quarter was $0.8 million, or $0.03 per share, compared to $1.9 million, or $0.06 per share, in the prior-year period. Net loss for the 2009 third quarter, which includes $0.5 million in gains from an earn-out from discontinued operations, was $0.3 million, or $0.01 per share, versus a net loss of $6.3 million, or $0.20 per share, which included a loss from discontinued operations of $4.4 million, or $0.14 per share.

EBITDA* in the 2009 third quarter for the Company as a whole was break-even, which included $0.5 million in gains from an earn-out from the divested Hollywood.com operations, versus an EBITDA loss of $6.0 million in the third quarter of 2008, which included a $4.4 million loss from discontinued operations. EBITDA for all three operating segments was positive for the 2009 third quarter, with Broadway Ticketing EBITDA increasing to $1.1 million, despite a $0.1 million one-time charge related to the replacement of the old Broadway.com site in the period. The Company realized a 27% reduction in SG&A and payroll and benefits expenses with a total decrease in year-over-year operating costs and expenses of 18%.

Mitchell Rubenstein, CEO of Hollywood Media, commented, "During the third quarter, we continued to realize the benefits of significant expense reductions and managed our ticketing inventory well. Our new Broadway.com site is now fully operational, and we are encouraged by initial sales trends ahead of the busy holiday selling season."

Cash and cash equivalents was $9.8 million at September 30, 2009 up from $8.4 million at June 30, 2009 due to an increase in operating cash flow. The Company also has approximately $1.2 million in its restricted cash balance, which was transferred by the Company during the first quarter of 2009 to secure a bond for ticketing purchases.

Teleconference Information

Management will host a teleconference to discuss the Company's 2009 third quarter financial results. The conference call is scheduled for Wednesday, November 4, 2009 at 9:00 a.m. Eastern Time. To access the teleconference, please dial 877-407-8293 (U.S.) or 201-689-8349 (international) approximately 10 minutes prior to the start of the call. The teleconference will also be available via live webcast on the investor relations portion of Hollywood Media's website, http://www.hollywoodmedia.com/conference_calls.htm.

If you are unable to listen to the live teleconference, a replay will be available through November 11, 2009, and can be accessed by dialing 877-660-6853 (U.S.) or 201-612-7415 (international). Callers will be prompted for replay account number 342# followed by conference ID number 336617#. An archived version of the webcast will also be available on the investor relations section of Hollywood Media's website at http://www.hollywoodmedia.com.

About Hollywood Media Corp.

Hollywood Media is comprised primarily of Internet businesses focused on online ticketing, which include Broadway.com and Hollywood Media's minority interest in MovieTickets.com. Hollywood Media also owns the UK-based CinemasOnline and its Intellectual Property division.

*Note on EBITDA

EBITDA is a non-GAAP financial measures. EBITDA is defined as net income before interest, taxes, depreciation and amortization. Hollywood Media has presented EBITDA in this release because it considers such information an important supplemental measure which management utilizes as one of its tools in evaluating performance and believes it is frequently used by securities analysts, investors and other interested parties in the evaluation and comparison of companies in our industry as well as our results of operations from period to period. EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for Hollywood Media's financial results as reported under GAAP. Some of these limitations are: (a) EBITDA does not reflect changes in, or cash requirements for, Hollywood Media's working capital needs; (b) EBITDA does not reflect interest expense, or the cash requirements necessary to service interest or principal payments, if any; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and EBITDA does not reflect any cash requirements for such capital expenditures. Because of these limitations, EBITDA should not be considered as a principal indicator of Hollywood Media's performance. Hollywood Media compensates for these limitations by relying primarily on Hollywood Media's GAAP results and using EBITDA only supplementally.

Note on Forward-Looking Statements

Statements in this press release may be "forward-looking statements" within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous potential risks and uncertainties, including, but not limited to, the need to manage our growth, our ability to realize anticipated revenues and cost efficiencies, the impact of potential future dispositions or other strategic transactions by Hollywood Media, our ability to develop and maintain strategic relationships, our ability to compete with other online ticketing services and other competitors, technology risks, the volatility of our stock price, and other risks and factors described in Hollywood Media Corp.'s filings with the Securities and Exchange Commission including our Form 10-K for 2008. Such forward-looking statements speak only as of the date on which they are made.

                  HOLLYWOOD MEDIA CORP. AND SUBSIDIARIES
                  CONDENSED CONSOLIDATED BALANCE SHEETS
                                                September 30, December 31,
                                                    2009          2008
                                                ------------  ------------
                                                (unaudited)
                 ASSETS
CURRENT ASSETS:
  Cash and cash equivalents                     $  9,761,580  $ 12,685,946
  Receivables, net                                 1,189,689     1,433,797
  Inventories held for sale                        4,071,233     4,491,841
  Deferred ticket costs                            9,839,951    12,085,237
  Prepaid expenses                                 1,698,894     1,418,563
  Other receivables                                1,254,595     1,431,216
  Other current assets                               203,240        99,945
  Related party receivable                           101,349             -
  Restricted cash                                  1,221,000     2,600,000
                                                ------------  ------------
    Total current assets                          29,341,531    36,246,545
PROPERTY AND EQUIPMENT, net                        4,644,434     4,649,202
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED
 INVESTEES                                           136,504       132,800
INTANGIBLE ASSETS, net                               457,303       682,896
GOODWILL                                          20,183,142    25,154,292
OTHER ASSETS                                          31,148        73,126
                                                ------------  ------------
    TOTAL ASSETS                                $ 54,794,062  $ 66,938,861
                                                ============  ============
     LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
  Accounts payable                              $    647,441  $  1,329,949
  Accrued expenses and other                       3,043,127     3,708,652
  Deferred revenue                                12,888,759    15,196,455
  Gift certificate liability                       2,881,359     3,434,359
  Customer deposits                                  852,943       831,838
  Current portion of capital lease obligations       142,544       203,579
  Current portion of notes payable                    45,308        43,147
  Related party payable                                    -     2,622,438
                                                ------------  ------------
    Total current liabilities                     20,501,481    27,370,417
DEFERRED REVENUE                                     314,103       401,309
CAPITAL LEASE OBLIGATIONS, less current portion       94,609       203,901
OTHER DEFERRED LIABILITY                           1,120,892     1,168,096
NOTES PAYABLE, less current portion                    6,424        36,258
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
  Preferred Stock, $.01 par value, 1,000,000
   shares authorized; none outstanding                     -             -
  Common stock, $.01 par value, 100,000,000
   shares authorized; 31,037,656 and 30,883,913
   shares issued and outstanding at September 30,
   2009 and December 31, 2008, respectively          310,376       308,839
  Additional paid-in capital                     309,321,245   309,100,760
  Accumulated deficit                           (276,930,993) (271,695,431)
                                                ------------  ------------
    Total Hollywood Media Corp shareholders'
     equity                                       32,700,628    37,714,168
  Noncontrolling interest                             55,925        44,712
                                                ------------  ------------
    Total shareholders' equity                    32,756,553    37,758,880
                                                ------------  ------------
    TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY  $ 54,794,062  $ 66,938,861
                                                ============  ============
                  HOLLYWOOD MEDIA CORP. AND SUBSIDIARIES
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                (unaudited)
                           NINE MONTHS ENDED         THREE MONTHS ENDED
                             SEPTEMBER 30,              SEPTEMBER 30,
                       -------------------------  ------------------------
                           2009         2008          2009         2008
                       -----------  ------------  -----------  -----------
NET REVENUES
  Ticketing            $69,979,418  $ 83,044,397  $20,597,971  $23,981,802
  Other                  3,441,400     4,995,369    1,256,695    1,540,980
                       -----------  ------------  -----------  -----------
                        73,420,818    88,039,766   21,854,666   25,522,782
                       -----------  ------------  -----------  -----------
OPERATING COSTS AND
 EXPENSES
  Cost of revenues -
   ticketing            57,768,570    69,416,062   16,615,916   19,633,194
  Editorial,
   production,
   development and
   technology            1,944,210     2,685,058      707,297      783,695
  Selling, general and
   administrative        7,572,482    10,098,009    2,454,488    3,143,408
  Payroll and benefits   7,402,148    10,249,690    2,363,274    3,475,737
  Depreciation and
   amortization          1,184,187     1,451,359      389,219      466,093
                       -----------  ------------  -----------  -----------
    Total operating
     costs and
     expenses           75,871,597    93,900,178   22,530,194   27,502,127
                       -----------  ------------  -----------  -----------
    Loss from
     operations         (2,450,779)   (5,860,412)    (675,528)  (1,979,345)
EARNINGS (LOSSES) OF
 UNCONSOLIDATED
 INVESTEES
  Equity in earnings
   (losses) of
   unconsolidated
   investees             1,912,906     1,312,622           73       (4,891)
  Impairment loss       (5,000,000)            -            -            -
                       -----------  ------------  -----------  -----------
    Total equity in
     earnings (losses)
     of unconsolidated
     investees          (3,087,094)    1,312,622           73       (4,891)
OTHER INCOME (EXPENSE)
  Interest, net             18,714       392,104        3,592       91,771
  Other, net              (156,069)      (40,273)    (115,855)      (6,691)
                       -----------  ------------  -----------  -----------
    Loss from
     continuing
     operations         (5,675,228)   (4,195,959)    (787,718)  (1,899,156)
    Gain (loss) on
     sale of
     discontinued
     operations, net
     of income taxes       472,487    (4,303,717)     472,487   (4,303,717)
    Loss from
     discontinued
     operations                  -    (1,635,750)           -     (114,975)
                       -----------  ------------  -----------  -----------
    Income (loss) from
     discontinued
     operations            472,487    (5,939,467)     472,487   (4,418,692)
    Net loss            (5,202,741)  (10,135,426)    (315,231)  (6,317,848)
NET INCOME
 ATTRIBUTABLE TO
 NON-CONTROLLING
 INTEREST                  (32,821)      (97,573)     (33,762)     (31,751)
                       -----------  ------------  -----------  -----------
    Net loss
     attributable to
     Hollywood Media
     Corp              $(5,235,562) $(10,232,999) $  (348,993) $(6,349,599)
                       ===========  ============  ===========  ===========
 Basic and diluted
  income (loss) per
  common share
    Continuing
     operations        $     (0.19) $      (0.13) $     (0.03) $     (0.06)
    Discontinued
     operations               0.02         (0.19)        0.02        (0.14)
                       -----------  ------------  -----------  -----------
    Total basic and
     diluted net loss
     per share         $     (0.17) $      (0.32) $     (0.01) $     (0.20)
                       ===========  ============  ===========  ===========
Weighted average
 common and common
 equivalent shares
 outstanding - basic
 and diluted            30,565,413    31,971,997   30,637,658   32,095,554
                       ===========  ============  ===========  ===========
                          Hollywood Media Corp.
         Segment Summary Financial Data and EBITDA Reconciliation
For the Nine
 Months Ended
 September 30, 2009
(unaudited)
            Broadway     Ad Sales   Intellectual
            Ticketing     (1)(3)     Properties    Other (2)      Total
           -----------  -----------  ----------  ------------  -----------
Net
 Revenues  $69,979,418  $ 2,510,258  $  931,142  $          -  $73,420,818
Operating
 Income
 (Loss)      3,186,593     (246,437)     67,022    (5,457,957)  (2,450,779)
           -----------  -----------  ----------  ------------  -----------
Net Income
 (Loss)      3,002,149   (5,233,951)     33,420    (3,037,180)  (5,235,562)
  Add back
   (Income)
   Expense:
   Interest,
    net        (10,092)       5,525        (515)      (13,632)     (18,714)
   Taxes         1,929      (51,795)          -       (14,575)     (64,441)
   Deprec-
    iation
    and
    Amort-
    ization    617,505      271,569         225       294,888    1,184,187
           -----------  -----------  ----------  ------------  -----------
EBITDA
 Income
 (Loss)    $ 3,611,491  $(5,008,652) $   33,130  $ (2,770,499) $(4,134,530)
           ===========  ===========  ==========  ============  ===========
For the Nine
 Months Ended
 September 30, 2008
(unaudited)
            Broadway      Ad Sales  Intellectual
            Ticketing       (1)      Properties    Other (2)      Total
           -----------  -----------  ----------  ------------  -----------
Net
 Revenues  $83,044,397  $ 3,959,304  $1,036,065  $          -  $88,039,766
Operating
 Income
 (Loss)      2,338,563     (317,053)    211,100    (8,093,022)  (5,860,412)
           -----------  -----------  ----------  ------------  -----------
Net Income
 (Loss)      2,396,545     (295,810)    109,058   (12,442,792) (10,232,999)
  Add back
   (Income)
   Expense:
   Interest,
    net        (66,280)       9,865      (3,239)     (332,450)    (392,104)
   Taxes             -      (17,418)          7        59,809       42,398
   Deprec-
    iation
    and
    Amort-
    ization    657,295      463,879          75       330,110    1,451,359
           -----------  -----------  ----------  ------------  -----------
EBITDA
 Income
 (Loss)    $ 2,987,560  $   160,516  $  105,901  $(12,385,323) $(9,131,346)
           ===========  ===========  ==========  ============  ===========
For the Three
 Months Ended
 September 30, 2009
(unaudited)
            Broadway      Ad Sales  Intellectual
            Ticketing       (1)      Properties    Other (2)      Total
           -----------  -----------  ----------  ------------  -----------
Net
 Revenues  $20,597,971  $   845,639  $  411,056  $          -  $21,854,666
Operating
 Income
 (Loss)      1,015,580      (87,787)     68,980    (1,672,301)    (675,528)
           -----------  -----------  ----------  ------------  -----------
Net Income
 (Loss)        870,216      (74,312)     35,311    (1,180,208)    (348,993)
  Add back
   (Income)
   Expense:
   Interest     (2,699)       1,962         (20)       (2,835)      (3,592)
   Taxes         1,929      (10,829)          -       (16,075)     (24,975)
   Deprec-
    iation
    and
    Amort-
    ization    203,311       89,423          75        96,410      389,219
           -----------  -----------  ----------  ------------  -----------
EBITDA
 Income
 (Loss)    $ 1,072,757  $     6,244  $   35,366  $ (1,102,708) $    11,659
           ===========  ===========  ==========  ============  ===========
For the Three
 Months Ended
 September 30, 2008
(unaudited)
            Broadway      Ad Sales  Intellectual
            Ticketing       (1)      Properties    Other (2)      Total
           -----------  -----------  ----------  ------------  -----------
Net
 Revenues  $23,981,802  $ 1,246,955  $  294,025  $          -  $25,522,782
Operating
 Income
 (Loss)        858,702      (86,482)     67,879    (2,819,444)  (1,979,345)
           -----------  -----------  ----------  ------------  -----------
Net Income
 (Loss)        870,867      (94,489)     32,315    (7,158,292)  (6,349,599)
  Add back
   (Income)
   Expense:
   Interest    (10,759)       1,889      (1,085)      (81,816)     (91,771)
   Taxes             -        2,189           7         7,809       10,005
   Deprec-
    iation
    and
    Amort-
    ization    197,775      152,222          75       116,021      466,093
           -----------  -----------  ----------  ------------  -----------
EBITDA
 Income
 (Loss)    $ 1,057,883  $    61,811  $   31,312  $ (7,116,278) $(5,965,272)
           ===========  ===========  ==========  ============  ===========
(1)  The Ad Sales segment includes other advertising sales by
CinemasOnline.
(2)  The Other segment is comprised of payroll and benefits for corporate
and administrative personnel as well as other corporate-wide expenses such
as legal fees, audit fees, proxy costs, insurance, centralized information
technology, and includes consulting fees and other fees and costs relating
to compliance with the provisions of the Sarbanes-Oxley Act of 2002 that
require Hollywood Media and its Independent Registered Public Accounting
Firm to make an assessment of and report on internal control over financial
reporting. Also includes Discontinued Operations financial information.
(3)  The Ad Sales segment includes a $5.0 million non-cash impairment loss
to MovieTickets.com.

SOURCE: Hollywood Media Corp.