A Netflix Co-Founder on Why This Generation Loves MoviePass
Declining theater traffic doesn’t scare MoviePass.
CEO Mitch Lowe joined Cheddar to discuss why his company’s subscription-based model can bring more moviegoers to the seats.
“Millions of people who’ve grown up with subscriptions love this whole idea of paying one flat-fee and then being able to go when they want, to see whatever they want,” said Lowe, who is also a co-founder of Netflix.
“People really do want to go to the movies more often, and especially young people. What they’ve really been looking for is better way to do it.”
The rise of Netflix and other video-streaming services has led to a drastic decline in movie theater attendance, with the number of tickets sold expected to hit a 22-year low in 2017. According to a survey by research firm Statista, almost a third of respondents say they go out to see a film less than once a year.
But Lowe hopes MoviePass can get people to go out more frequently.
“The people that our price point is attractive to are the people who only spent $40, $50 last year going to the movies, People who went only four or five times,” he said. “When they joined MoviePass now they’re going ten times a year.”.
MoviePass, majority owned by Helios and Matheson, last week announced it hit 1 million subscribers, only 4 months after cutting its monthly fee to under $10 a month.
For full interview [click here](https://cheddar.com/videos/moviepass-hits-1-million-subscriber-mark).
Americans are still spending, but rising anxiety over jobs, AI, housing and tariffs tells a different story. Kearney Consumer Institute’s Katie Thomas explains.
Disney is back in focus after Q3 earnings. Investors are watching streaming profits, theme parks and ESPN as the entertainment giant looks for its next catalyst
Healthcare policy is shifting fast, raising questions about drug prices, Medicare and access. Leap Health CEO Hani Elias explains what patients need to know.
The U.S. job market is cooling as hiring slows and employers turn cautious. LinkedIn’s Kory Kantenga breaks down jobs, wages, spending and AI’s impact.
AI is entering a new phase as enterprises move beyond experimentation and demand measurable returns. Appian CEO Matt Calkins discusses what comes next.
Commercial Metals CEO Peter Matt reveals how a $2.5B acquisition spree is transforming the 111-year-old steelmaker into a construction solutions powerhouse.
Angelo Zino, Senior Vice President and Technology Equity Research Analyst at CFRA, breaks down Big Tech earnings, AI spending, and what's next for the Mag 7.
