Summary
- Mitch Lowe and Ted Farnsworth have both been charged with one count of securities fraud and three counts of wire fraud, which they are currently awaiting trial for.
- Lowe has since written a book about his time as the CEO of MoviePass, and has openly discussed the company’s downfall.
- Farnsworth is currently in jail, and he had another failed business venture after MoviePass declared bankruptcy.
The MoviePass, MovieCrash documentary highlights two of the central figures who were alleged to be responsible for the downfall of MoviePass, Mitch Lowe and Ted Farnsworth, but it didn’t explain where they are now. The documentary chronicles the rise and fall of MoviePass, a subscription service that allowed its users to see a new movie in theaters every day. MoviePass, MovieCrash had some shocking reveals about the company behind the subscription service and its leadership, namely MoviePass CEO Mitch Lowe and Ted Farnsworth, who was the CEO of Helios and Matheson Analytics, the parent company of MoviePass.
As MoviePass, MovieCrash chronicled, MoviePass shut down in 2019 following several scandals and unethical decisions reportedly made by Lowe and Farnsworth. While the company is still around, as original co-creator Stacy Spikes has since relaunched MoviePass, Lowe and Farnsworth’s tenure marked the company’s lowest point. After the MoviePass app was shut down, the company filed for bankruptcy in 2020 and ceased business operations. Lowe and Farnsworth seemingly contributed quite a bit to the company’s downfall, and after the events shown in MoviePass, MovieCrash, they had to answer for their actions.
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Mitch Lowe & Ted Farnsworth Are Still Awaiting Trial For Fraud
Each Of Their Four Charges Could Result In 20-Year Prison Sentences
Near the end of MoviePass, MovieCrash, it was revealed that the FBI had investigated both Lowe and Farnsworth for acts of fraud they committed during their time at MoviePass. Later, Lowe and Farnsworth settled two fraud cases that were brought against them. One of the settlements, in the allegations made by the Federal Trade Commission, barred Lowe and Farnsworth from misrepresenting their business and data security practices. According to Business Insider, the other settlement, in charges made by a California district attorney, required them to pay $400,000 in civic penalties and restitution.
MoviePass, MovieCrash
is available to stream on Max.
Those cases weren’t the only ones brought against the former CEOs, though. According to Business Insider, both Lowe and Farnsworth were also indicted on one count of securities fraud and three counts of wire fraud. As of May 2024, both Lowe and Farnsworth are still awaiting trial for their respective fraud charges. Their trial does not have a set date yet, but according to the United States Justice Department, it will be heard by a federal district judge in Miami. Each of those charges could carry a maximum sentence of up to 20 years in prison.
What Mitch Lowe Has Done Since MoviePass Shut Down In 2019
Lowe Has Spoken Very Openly About His Time With MoviePass, & Wrote A Book About It
As the CEO of MoviePass Inc., Mitch Lowe was out of a job when the company declared bankruptcy. He has not returned to a leadership position in any business since, but he has done several things. Surprisingly, Lowe agreed to an interview that was featured in MoviePass, MovieCrash. Lowe does not seem to mind speaking about MoviePass, as he has spoken about his time with the company to different news publications. Lowe has even since written a book about his time with Netflix, Redbox, and MoviePass, which he titled “Watch and Learn: How I Turned Hollywood Upside Down with Netflix, Redbox, and MoviePass―Lessons in Disruption.”
Where Is Ted Farnsworth Now?
Ted Farnsworth Is In Jail, Awaiting His Trial For His Fraud Charges
While Lowe did not return to his business ventures, Ted Farnsworth did. According to Business Insider, Farnsworth founded another company, Zash Global Media and Entertainment, in 2021. Zash then merged with another company, Vinco Ventures. Farnsworth later purchased a social media app called Lomotif, tried to buy the National Enquirer, and Vinco’s stock price crashed to be nearly worthless. Business Insider even investigated his dealings at Zash and revealed that Farnsworth treated his new company in much the same way he did MoviePass, as he drove up stock prices only for them to crash.
Farnsworth’s troubles did not stop there, though. He, like Lowe, was charged with several counts of fraud. However, unlike Lowe, Farnsworth has been in a Florida jail since August 2023, when he surrendered himself to authorities. The reason he currently remains in jail is that his bail was revoked after he crossed state borders without notifying his probation officer and was involved in a domestic dispute.
Both Mitch Lowe and Ted Farnsworth were directly involved in the downfall of MoviePass, and they have since begun to suffer the consequences of their actions. While it will still be a while until a court finds them either innocent or guilty, they will both be tried for fraud. That trial won’t undo the harm that MoviePass, MovieCrash alleges they caused, but it will be a significant development in the story of MoviePass.
MoviePass, MovieCrash (2024)
- Director
- Muta’Ali Muhammad
- Release Date
- March 9, 2024
- Studio(s)
- HBO Documentary Films , Unrealistic Ideas , Nightbrain Pictures , Tower Way , Assemble Media
- Cast
- Stacy Spikes , Hamet Watt , Ted Farnsworth
- Runtime
- 96 Minutes
