More bad news for MoviePass: Chief product officer Mike Berkley has parted with the struggling company roughly six months after he was hired to improve its customer experience.
MoviePass confirmed the departure to Variety Saturday, but declined to comment further. Berkley also confirmed his departure, and posted the following statement on Linkedin after the initial publication of this article:
“Subscription for movie theaters has firmly taken root with consumers and there’s no turning back. MoviePass did that. My last six months were both exhilarating and very challenging. Life is short, so take the big swings. Last week I decided to part ways with MoviePass and I’m now excited to set my sights on what’s next…”
Berkley previously worked as SVP of product management for Viacom, and before that in senior product roles at Spotify and Comcast. He was hired by MoviePass in March.
MoviePass CEO Mitch Lowe told Variety at the time that Berkley was being tasked with improving the customer experience amid rapid growth. “We have an opportunity to build something meaningful,” he said.
Since then, MoviePass has been struggling with the economic realities of its business, which promised subscribers access to daily movie tickets for a low monthly fee. Running low on cash, the company was forced to borrow $5 million in July, and has since instituted a cap of three movies a month.
Update: This post was updated multiple times with confirmation from MoviePass as well as an extended statement from Berkley.