SALT LAKE CITY — Does anyone still work at MoviePass?
- MoviePass executive vice president Khalid Itum resigned from MoviePass on Wednesday, according to Business Insider. He handed in his resignation letter last week after reportedly growing frustrated with the new direction of the company.
- Sources told Business Insider that MoviePass CEO Mitch Lowe will assume Itum’s responsibilities beginning on March 15. Lowe had previously handed day-to-day operations over to Itum last year.
- But he’s not alone. Bernadette McCabe, senior vice president of exhibitor relations, and Joey Adarkway, the chief technology officer, and Jake Petersen, a senior vice president in the human resources department, all resigned from the company, too, according to Business Insider.
- Sources told Business Insider the executives resigned because they were unhappy with the new direction of MoviePass, which announced (another) new direction last week to start focusing on MoviePass Films.
Recent layoffs: A lot of people have left MoviePass in recent weeks, beginning after Helios and Matheson Analytics, the parent company of MoviePass, was delisted from the Nasdaq back in February.
- MoviePass laid off its three-person business development team based out of Los Angeles.
- MoviePass also closed its entire Los Angeles office.
Bad news: MoviePass has faced numerous issues since it went viral two years ago. Though first an internet darling for allowing unlimited movie theater tickets for $9.99 a month, the company failed to find firm footing and went through a number of changes. There were rumors the company would file for bankruptcy, but then it received an additional $65 million in funding, according to Fortune.Comment on this story
- MoviePass does have a new plan for the future, which I wrote about after a conversation with Helios & Matheson CEO Ted Farnsworth. He said the new MoviePass would give subscribers access to early premieres, cast them in movies, and give them additional perks to improve the theatergoing experience.
- "We cast (subscribers) … to be in our movies, have a talking part or speaking part or whatever it is," he said. “So I think it's more inclusive … where it's just not only subscription."