Former MoviePass CEO Mitch Lowe Pleads Guilty to Securities Fraud Conspiracy – Lowe admitted he conspired to deceive the public and investors about the sustainability of the company’s $9.95-a-month movie subscription service
Former MoviePass CEO Mitch Lowe Pleads Guilty to Securities Fraud Conspiracy – Lowe admitted he conspired to deceive the public and investors about the sustainability of the company’s $9.95-a-month movie subscription service
I was using Moviepass back when it was like $30/month, since in NYC even that is an absolute steam, and remember hearing the $10/month news and thinking “well this was fun while it lasted may as well ride it into the ground.” I was shocked anybody thought it could work even at $30, so that price cut made the writing on the wall pretty obvious.
Pal__Pacino on
Pretty much the only entrepreneur who took money from his stakeholders and put it in my pocket rather than doing the opposite. To me he’s a hero.
joseph_jojo_shabadoo on
Ahhh the good ol days. I managed to snag the annual membership really early on, which ended up being something like $7/month for unlimited movies and no restrictions for days/times etc. I probably saw something like 50 movies that year.
__Cmason__ on
Check out MoviePass MovieCrash on Netflix, it’s really good.
EctoRiddler on
Thanks Mitch. You were a real one to non investors and non employees.
Rosstin316 on
The best thing to come out of this was AMC creating their own awesome version of it, so thanks Mitch, even though i’m shocked you didn’t see that coming since your service was not proprietary at all.
6 Comments
I was using Moviepass back when it was like $30/month, since in NYC even that is an absolute steam, and remember hearing the $10/month news and thinking “well this was fun while it lasted may as well ride it into the ground.” I was shocked anybody thought it could work even at $30, so that price cut made the writing on the wall pretty obvious.
Pretty much the only entrepreneur who took money from his stakeholders and put it in my pocket rather than doing the opposite. To me he’s a hero.
Ahhh the good ol days. I managed to snag the annual membership really early on, which ended up being something like $7/month for unlimited movies and no restrictions for days/times etc. I probably saw something like 50 movies that year.
Check out MoviePass MovieCrash on Netflix, it’s really good.
Thanks Mitch. You were a real one to non investors and non employees.
The best thing to come out of this was AMC creating their own awesome version of it, so thanks Mitch, even though i’m shocked you didn’t see that coming since your service was not proprietary at all.