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 Inc. 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 Inc., 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.
- Netflix cofounder's MoviePass will now let you see one movie per day in ...Business Insider
- MoviePass Sells to Helios and Matheson AnalyticsVariety
- Do you watch movies? MoviePass's new deal is unreal and you should sign up todayMashable
- MoviePass is dropping subscription fees to $10 a monthThe Verge
- Now you can see one movie a day in theaters for $9.95 a monthSiliconBeat
- Go to the Movies Every Day for $9.95/Month With MoviePassPCMag
- Netflix co-founder: Pay $10, watch all the in-theater movies you wantSalon
- The Co-Founder of Netflix Thinks You're Overpaying for Movie Theater Tickets ...Inc.com
- Helios and Matheson (HMNY) to Acquire Majority Stake in MoviePassStreetInsider.com