Ex-Netflix Exec Mitch Lowe Takes Over as MoviePass CEO

Mitch Lowe -MoviePass
Courtesy of MoviePass

Mitch Lowe, an early exec at Netflix and Redbox, has taken the reins of MoviePass as CEO in a bid to help expand the fledgling company’s Netflix-style movie-theater subscription service.

Lowe, who’s also joining the company board, has been an adviser to the company for the past two years and recently made an investment in New York-based MoviePass. He takes over for Stacy Spikes, MoviePass’ founding CEO, who will continue as co-chairman. Hamet Watt, the company’s founding chairman, will continue as a co-chairman of the board.

“If I’ve learned anything at Netflix and Redbox, being first to market really matters,” Lowe said in a statement. “MoviePass’ patented technology will allow millions of consumers to go to the movies more than ever and is proven to substantially increase attendance for the theaters. This is great news for all — exhibitors, studios and consumers. I am excited to be joining Hamet and Stacy on this team.”

Related

MoviePass Subscription Boosts Theater Attendance 111%, Service Says

MoviePass, founded in 2011, movie-theater subscription service, Movie Pass is accepted at more than 34,000 screens, accounting for 90% of U.S. theaters. But its service, which the company says starts at $30 per month to see an unlimited number of movies (with certain restrictions), hasn’t caught fire the way either Netflix or Redbox did.

Lowe was part of the founding team at Netflix, serving as VP of business development and strategic alliances from 1998 to 2003, as was the former president and COO of Redbox. At Netflix, Lowe led the early studio negotiations and many of the subscriber acquisition programs, such as the integration into Best Buy’s point-of-sale systems.

“Mitch has been a great friend to MoviePass and has been instrumental to its progress over the past few years,” Spikes said in a statement. “He has the skills and experience to accelerate the growth of the company, and his extensive background in subscription services and disruptive entertainment distribution businesses are key as we forge the next chapter of product innovation for MoviePass.”

According to MoviePass, the company is positioned to help theater chains address their “millennial problem” of younger audiences going to the movies less frequently. The company says 75% of its subscribers are millennials, and recent research from MoviePass found that the subscription service more than doubles theater and that subscribers spend more than 120% more on concessions.

MoviePass investors, in addition to Lowe, include True Ventures, AOL Ventures, NALA Investments, WME and former Facebook chief privacy officer Chris Kelly. The company has raised $3.7 million to date, according to CrunchBase.

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  1. MovieLover99 says:

    Don’t sign up to MoviePass. Since Mitch Lowe came on board this month it’s become a criminal bait and switch operation. If you actually use the “unlimited” pass for 3 movies a week, your card is suspended, and MoviePass then demands $99 a month from you. MoviePass customers are cancelling in droves and a class action law-suit will surely follow shortly. This is a disgraceful and dishonest company that is best avoided.

  2. Josh says:

    I just got the email today telling me that if I want to keep using movie pass it will cost me $99.99 a month for unlimited. If I just stuck to matinee movies i could see about 13 movies a month cheaper than that $99 plan.

  3. Matthew Buswell says:

    I was a long time believer in Movie Pass. I’ve had the subscription for about a year and a half and I’ve learned to live with it’s limitations. You learn to plan your movie going a little bit ahead of time and deal with the quirks of the app.

    I personally loved the service but I just got an email today out of the blue about some new “plans” they are rolling out instead $30-45 a month to see any 2d movie once per day it’s now become a “premium package” where you now get to pay a $100 a month for the same privilege except now you get to see 3d movies or larger formats. Or you can spend $50 a month and only see 6 movies per month at a rate of $8.30 a ticket. Which at that price you may as well just buy it yourself through online deals.

    Easy to say I cancelled immediately. I find it ironic in the email that they talked about reaching out to the millennial generation with this. All they will get is cancellations because most like me can afford $30 maybe $45 a month for a luxury like movie pass but no way will anyone in my demographic pay $100 to deal with all the annoyances that come with movie pass.

    It’s really a shame because I did like the service but they way they are screwing their loyal customers in the back is ridiculous I already cancelled and I suggest you do the same.

    • dsl says:

      What are you talking about? haven’t received this email or heard anything about it.

      • andyherndon says:

        Same here… Never got that e-mail! I heard they raised prices even higher in NY and LA but that move just seems stupid. MoviePass has it’s quarks but I use it enough (8-10 times a months) that it’s way more than worth it for me!

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