Mitch Lowe - From Netflix to the Metaverse
Mitch Lowe: Leaps and Bounds Ahead of the Curve
Netflix’s evolution from a “movies by mail” to the #1 Streaming company in the world tracks the evolution of the internet from Web 1.0 to 2.0 and now as we all are entering the Metaverse and Web 3.0 the story of Netflix is extremely informative as companies explore and evaluate the opportunities, challenges, and risks in the Metaverse.
In Mitch’s presentation “From Netflix to the Metaverse” he shares the similarities and challenges you should consider as we enter this new world. After sharing those thoughts Mitch shares stats and facts about the current state of the Meta and the next few years of opportunities.
If you want to be the leader of your industry, you need to disrupt your market. Mitch Lowe is an expert in disruption. As a chief executive officer of Netflix, Redbox, and MoviePass, Lowe has disrupted the movie industry three times: two times he disrupted how we rent movies (by mail and by kiosk) and is in the process of disrupting how we pay for our movie theater experience. In this exciting and informative talk, Lowe will share the behind-the-scenes secrets of how he built a culture that disrupted movie watching and how you can build your own culture to disrupt your own industry.
The last 21 years have seen the rise of Netflix, the switch to streaming, the shortening of our attention span, the rise of multi-episode and multi-season series, and much more. Where is content consumption headed? What role will shorter and shorter form content such as TikTok play in the overall viewing time spent? Who will change their habits and when? In this presentation, Mitch will look at where we have been, where we are now and his view on the future. He will share data on consumption and stretch out those behaviors to the next 5 and 10 years.
Remember when Netflix decided to increase their monthly fee by 60% or when Redbox raised their rental prices higher than $1 per night? Drawing on instances from his time at Netflix and Redbox, Mitch explains decisions made when the companies faced existential and strategic crises, providing reasoning behind those decisions and their effects—for better and/or worse.
Mitch discusses the wrong ways to make a decision and which factors are actually not helpful in the decision making process. He then details how to make a well-informed decision by looking holistically at the pros and cons, the processes and resources through which a decision is implemented, and the likelihood of success. This, along with Mitch’s other presentations, can be tailored to the audience, whether they be marketing, sales, operations, strategic based.
Theory and strategy are important, but execution is absolutely crucial. Sharing stories from his experiences at Netflix and Redbox, Mitch reveals the framework for designing and implementing a positive and winning culture.
The culture that developed in the early days of Netflix played a large role in the success of the company, and when Mitch took over as Redbox President he brought that culture with him. While, Redbox—a Chicago based company with midwest values–was a very different company than the Silicon Valley based Netflix, Mitch was able to implement the framework of the successful Netflix culture and customize it to fit Redbox’s goals and company values. In this presentation Mitch, shows how a winning culture can be customized to align with any company’s unique philosophy to create an exceptional working environment that you and your employees will be proud of.
Results Innovation requires unwavering commitment and support throughout the entire organization, which is often difficult to achieve for two reasons: one, the financial commitment and, two, getting everyone onboard for disruptive work. In this presentation, Mitch details the processes to get the whole team on board to work together towards innovative results.
Moviepass was one of the fastest-growing entertainment subscription services ever. Growing from 20,000 subscribers to 3.1 million in less than 8 months, Moviepass set out to do for Cinemas what Netflix did for home entertainment but failed. In this presentation, Mitch will explore the ways fast growth can undermine success and if not managed lead to failure.
Entertainment and the various ways we get content are evolving rapidly. We started with cave drawings, Homer, medieval traveling plays, 12th century chivalric odes, Shakespeare, opera, and silent theaters. Then, we moved on to movies, TV, VHS and DVD. Now, we have streaming platforms like TikTok, Netflix, Amazon Prime, Hulu, and international companies like Shahid and Rakutan.
These days, new apps and platforms are being created one after another, to the extent that it’s hard to keep up – There are just too many choices. In this keynote, Mitch will discuss:
- The history of storytellers
- The state of the entertainment industry today
- How Tiktok could replace Netflix as THE entertainment site and how shorter attention spans play a role in that
- The democratization of content creation and and how anyone with an iPhone can create a series on Netflix
- The technology that is helping consumers discover new content
Mitch Lowe was one of the early pioneers in the movie rental industry, opening video rental stores in the early 1980’s building a chain of stores in Northern California called Video Droid. Mitch was active in the trade association representing that nascent industry and served on its national board and as President. In the early ‘80s, Mitch tried to launch VHS video rental kiosks as well as a subscription-based website provider. In the late 90’s, Mitch joined Marc Randolph and Reed Hastings at Netflix as the video industry expert. As VP of Business Development and Strategic Alliances for Netflix’s first five years, and as a member of its core executive team Mitch led many of the partnerships that drove new subscribers to join Netflix, such as its partnership with Best Buy and DVD manufacturers.
Mitch left Netflix in 2003 after a successful IPO and joined the business development team at McDonalds Ventures to build a DVD vending machine business called Redbox. Mitch served as its COO and President for eight years, growing the company from $36k in first-year revenue to over $1.5B in revenue eight years later. He left in late 2011 and began investing in startups in various spaces, eventually going to Moviepass as its President in 2016. Most recently, Mitch received the “Distinguished Mentor Award 2021” from The Abrahamic Business Circle.
Over the past few years, Mitch has also produced several movies including Gotti, American Traitor: The Trial of Axis Sally and 10 Minutes Gone.
Mitch Lowe speaks on the future of leadership, entrepreneurship, company culture, the $2 trillion entertainment industry, the Metaverse and the business of NFTs. Mitch also speaks on strategic product launches––and the critical roles of intuition, perseverance, analytical thinking, and love.
His book “Watch and Learn: How I Turned Hollywood Upside Down with Netflix, Redbox, and MoviePass – Lessons in Disruption” will be released in September 2022.
"Mitch has highly relevant insights to share on operational best practices, creating a culture for innovation, leveraging customer insights and creating value using data. We have found him to be an incredible resource across a range of corporate functions from analytics teams to commercial teams to senior executive teams. He is a great thought partner and pleasure to work with, and I highly recommend him for anyone look to be inspired on innovative ways to drive growth."
VP, Life Sciences Research
“Mitch joined us before we were Netflix, he was part of the founding team at Netflix, and a vital part of our successes.”
Marc Randolph, Netflix Cofounder
"Mitch just spoke with our Tigo team and he is a business guru. Mitch provided us a guide for innovation and he is a terrific presenter. Our audience benefited greatly from Mitch's participation with our group."