MoviePass sounds too good to be true. Is it?
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MoviePass CEO Mitch Lowe talks with Recode’s Peter Kafka about how he’s trying to make a profitable business out of charging $10/month for nearly unlimited visits to the movie theater. Lowe says MoviePass now has more than 1.5 million paying subscribers, who see twice as many films in the theater as non-subscribers. He also talks about the company’s risky public feud with the large theater chain AMC, which he says is due to AMC’s unwillingness to share the profits of all the new business it is getting. Plus: What Lowe learned as an early Netflix exec from CEO Reed Hastings.