Mitch Lowe has already served as an early executive at two modern era disruptors - Netflix and Redbox. With MoviePass, Lowe is seeking a movie-industry trifecta.
Taking a page from the Netflix and Redbox playbook, Lowe introduced a revolutionary pricing model for MoviePass. The service went viral, attracting 400,000 paying members in less than a month.
Publicly-held Helios & Matheson reached an agreement to acquire a 51% stake in MoviePass just days before the latter went viral. Shares of Helios have started to follow suit.
I sat down with Helios CEO Ted Farnsworth to gain an understanding of how MoviePass intends to expand and eventually achieve profitability.
The Internet era has been defined by the encroachment of visionary entrepreneurs bent on disrupting the status quo. Armed with billions in venture funding, their enterprises flourished, leaving many of the last generation’s leaders hobbled in their wake.
Last week, I heard about the latest visionaries looking to shake up a long-stagnant industry - Mitch Lowe and Ted Farnsworth.
Mitch Lowe has already overseen the emergence of two modern era disruptors. His first home run came as a co-founder at Netflix (NASDAQ:NFLX) where he handled business development and strategic alliances. Then, in 2009, Lowe took the helm at Redbox, which pioneered the widely-criticized concept of offering $1 movie rentals.
The critics were wrong.
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