It’s been a busy two months for MoviePass CEO Mitch Lowe, but he’s relaxed and friendly as we discuss what it’s like to be thrust into the spotlight overnight.
In August, his startup caused a frenzy by dropping the price of its subscription, which lets you see one film a day in theaters, to $9.95 a month.
The public went nuts, MoviePass struggled to keep up with more than 100,000 new subscribers, and the theater giant AMC began squawking in the press, vaguely implying it might take legal action.
The $9.95 price point had captured people’s imagination. But critics questioned whether the MoviePass model, which relies on MoviePass paying theaters the full price for tickets, would collapse under its own weight (even after $27 million in fresh capital).
That critique still hangs in the air. But as someone who signed up on the day of that price drop, and who has been using MoviePass for a few weeks, I can confidently say it has already changed how I think about movie theaters in a fundamental way.
i remember hearing about this a few weeks back, and thinking that there was probably no way it would last more than a month or two… but looks like it’s still around, and i’ll admit to being pretty curious… if you like going to the movies, then it seems almost too good to be true… hell, just going to the movies once or twice a month more than makes up for that $10 a month, y’know? last time i went to the theater i think my ticket was like $14 or something.
so anybody hip on this, or been using it?