×
You will be redirected back to your article in seconds

Ex-Netflix Exec Mitch Lowe Takes Over as MoviePass CEO

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.”

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.

More Digital

  • eOne Names Bill Wilson Senior VP

    eOne Names Bill Wilson Senior VP

    Entertainment One (“eOne”) has tapped Bill Wilson as Senior Vice President Digital Operations and Innovation, Music, the company announced today. Wilson will oversee all aspects of digital strategy across the company’s music business, including label service, talent management, music publishing and live entertainment, according to the announcement.  Wilson will be based in New York City and [...]

  • Jennifer Kaytin Robinson Someone Great

    'Someone Great' Director Jennifer Kaytin Robinson on Reimagining the Rom-Com

    Jennifer Kaytin Robinson, creator of the MTV series “Sweet/Vicious,” recently made her feature debut with “Someone Great,”  now streaming on Netflix. The film follows three friends as they navigate relationships and work in New York City.  Here, the writer-director opens up on reimagining the rom-com, and women changing the face of Hollywood. The three young [...]

  • Hulu-Logo

    Comcast Mulling Sale of Hulu Stake to Disney (Report)

    Comcast is holding talks with Disney to see if they can hammer out a deal to sell Comcast’s one-third stake in Hulu to the Mouse House — which would give Disney full control over Hulu, CNBC reported. The report comes a little over a week after AT&T sold its 9.5% stake in Hulu to the [...]

  • Cox Cable Testing a Form of

    Cox Cable Testing Gamer Network Service to Reduce Lag

    UPDATED: Cox Cable is testing a new “Elite Gamer Service” that is designed to speed up connections between gamers and games, but which the company says doesn’t prioritize internet use. The service began testing in Arizona this week and Cox tells Variety it plans to run the test for about three weeks. The $15 a [...]

  • Angie-Nwandu-The-Shade-Room

    The Shade Room, a Top Instagram Celebrity and Gossip Publisher, Unveils First Slate of Original Series (EXCLUSIVE)

    The Shade Room, a top Instagram-based media publisher focused on black culture, entertainment and celebrity gossip, is launching three new original series on the social platform. The five-year-old venture, the brainchild of entrepreneur Angelica Nwandu, runs one of the most highly engaged accounts on Instagram: @TheShadeRoom, which has 15.3 million followers (referred to as “Roommates”), [...]

More From Our Brands

Access exclusive content