As Movie theaters struggle with tepid sales, Mitch Lowe has an extreme proposal for how to get more people into seats: Let them come to all the showings they want for about the price of a single ticket each month.
Lowe, an early Netflix(nflx) executive who now runs a startup called Moviepass , plans to drop the price of the company’s movie ticket subscriptions on Tuesday to $9.95.
So the company also raised cash on Tuesday by selling a majority stake to Helios and Matheson Analytics, a small, publicly traded data firm in New York.
Ted Farnsworth, chief executive officer at Helios and Matheson, said the goal is to amass a large base of customers and collect data on viewing behaviors.
Lowe, a fixture of the home video business who helped get Netflix off the ground and served as president of rental-kiosk operator Redbox, was named CEO last year.
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