Powder Player: How Reed Hastings Is Disrupting the Ski Industry

Reed Hastings thrives on reinvention. After shaking up how we consume home entertainment — turning a home DVD-by-mail service into the world’s largest streamer, valued at more than $370 billion — he’s now tinkering with the ski industry.

In December, the Netflix executive chairman and avid snowboarder is debuting a hybrid public/private enterprise on Utah’s prized Powder Mountain, which has been operating as an independent ski resort since the 1970s. “We’re asking different questions here, which is leading to some really interesting answers regarding what a mountain resort can aspire to be in 2024 and beyond,” says Hastings, who acquired a majority stake in Powder Mountain last year and serves as its CEO. To date, he has invested more than $100 million in the project, according to his team.

Located just outside of Eden, Utah, about an hour’s drive from Salt Lake City, “PowMow” is said to be America’s largest ski resort as measured by skiable acres (more than 8,000), beloved for its perfect powder, unfussy Alpine ambiance and strict limits on passes resulting in significantly thinner crowds than other top mountain resorts. And as corporate consolidators gobble up popular ski destinations across the globe, Powder Mountain offers a more serene, rustic experience, with fresh tracks reminiscent of the skiing of yore.

“The uncrowded slopes, the pristine wilderness and the community-driven focus make it feel like skiing and riding was meant to feel — joyful, natural and shared,” says Hastings, ever the pitchman.

In some ways, the business model is the opposite of his previous venture. If Netflix’s success depended on delivering the service to as many people as possible, PowMow’s promise depends, in part, on keeping the masses at bay.

Luxury hotels on Powder Mountain are scarce, and there aren’t any immediate plans to build any, thus preserving the untouched feel. Most accommodations are available through a well-established rental network.

Hastings and his team plan to introduce privileged access to Powder Mountain via memberships available only to owners of real estate in Powder Haven, the new name for the hyper-exclusive residential section of the mountain, where lots start at $2 million. Preexisting owners reportedly will have to pay an additional initiation fee, as well as yearly dues, which are still being determined. Sources suggest they could range from $30,000 to $100,000.

The closest corollary for such a membership model is perhaps Montana’s ultra-posh Yellowstone Club. But whereas that residential club is entirely private, Powder Mountain also includes a robust public section with new infrastructure underway.

The public side boasts thousands of acres of unspoiled terrain, new and upgraded chair lifts and other ongoing improvements such as elevated on-mountain dining. “On the culinary side, expect hyperlocal menus in our restaurants, with ingredients that reflect the mountain lifestyle,” says Hastings. “We’re also weaving in more live music and community events to make Powder a year-round destination for adventure and creativity.”

There’s also a new outdoor art park, an initiative of the Powder Art Foundation, a 501(c)(3), with installations commencing this season. “Our North Star is thinking of ways to spark wonder. The art initiative is our way of adding a layer of magic, by blending the natural beauty of Powder Mountain with human creativity,” says Hastings. “It’s about fusing art with the structural DNA of the resort experience so that it’s felt throughout. Imagine skiing past world-class sculptures or taking a summer hike through installations that challenge and inspire. It’s not just about aesthetics; it’s about creating dialogue — between nature, art and the people who come here. This is a space where art feels alive, and I think it’s going to be a transformative experience for visitors.”

The plan at Powder Mountain is for the Powder Haven real estate sales to help pay for improvements for the public pass holders. Hastings and his team believe some of them may eventually become Haven members based on their experience at Powder Mountain.

“Private skiing is a unique offering, one that only a handful of people in the world have had the privilege to experience. While approximately 30 percent of golf courses are private, very few ski resorts are, and we expect this trend to grow substantially in the coming years,” he says. “Offering access to private lifts is the first manifestation of our commitment to preserving Powder’s uncrowded essence.”

In addition to the members-only access to slopes (including three private lifts), Powder Haven will include a 40,000-square-foot lodge featuring a spa, bars, restaurants and entertainment.

There are now fewer than 50 residences in Powder Haven, including the one Hastings built a few years ago, when Powder Mountain was owned by Summit Series, which organizes networking conferences for the business elite. Fewer than 40 lots are being reserved in what Powder Haven is calling Phase One of its membership rollout plan. Phase Two will be offered in 2025, with a cap of 600 families.

“This isn’t about exclusivity for its own sake,” says Hastings. “It’s about creating a sanctuary for people who love this mountain as much as we do and ensuring it remains vibrant, welcoming and also uncrowded.”

Despite the new investments and programming on the public side, some regulars are disenchanted by the developments at PowMow, primarily because of the privatization of two of the formerly public lifts and the increase in pass prices. (An adult season pass with no blackout dates has gone from $1,259 to $1,649.)

Alejandro Sandoval has been snowboarding at Powder Mountain for the past several years and is debating whether to switch over to nearby Snow Basin, even though he considers the crowd there “more uppity.”

“What’s happening at Powder Mountain is awful,” he says. “I see they’ve upgraded some of the lifts, which was needed, but it feels like they’re pricing the locals out, especially with the season pass at almost $1,700 a year, and they also need to add more bathrooms.” Whether he keeps going to Powder Mountain, he says, “depends on what they do to keep the locals happy. Right now, it’s not worth it.”

Colette McQuown has lived in the area for almost 25 years and is similarly dismayed by the developments. “I would work on the weekends, so my boys grew up on that mountain skiing. I met and married my husband in the Powder Keg [the beloved main lodge pub], so it will forever hold a magical place in my heart that no changes can take away. It hurts my heart to see the changes, but change is hard no matter what.”

Brandon Hegoas has been joyfully riding Powder Mountain for the last five years and shares a similar sentiment. “I didn’t support privatization and took my dollar elsewhere,” he says. “I’m pretty biased in that direction.  I’m sure the improvements will be great in their own right but I’ll be spending the majority of my time on a different mountain,” he says. “I hope they’re successful but I’m not sure that can be determined until after this season. I’m sure they will be, there’s no shortage of funding on their part.  It was my first time seeing money come in and take over a local mountain. I’m retired from the military and moved a lot during my time in service. I got to enjoy the “my home mountain” experience for five years. It was awesome and it will be missed.”

But the resentment is far from universal. Powder Mountain aficionado Joe Ogdie, general manager of The Lodge at Blue Sky in Wanship, Utah, welcomes the new developments. “I think it’s a good thing. It preserves the place and will add infrastructure to make it better.”

Hastings says keeping locals and Powder Haven members happy is a balancing act. “In some respects [it’s a challenge], but at the end of the day, our audience is after the same thing: an incredible ski and mountain experience. That unifying factor is core to every decision we make,” he says.

“Growth shouldn’t mean crowding,” he adds. “By capping daily ticket sales and emphasizing private lift access for homeowners and members, we’re creating a financially sustainable model. It’s quality over quantity.”

In some ways, Hastings is in unblazed terrain, but it would be unwise to bet against the success of a man who knows a thing or two about subscription-based businesses.

This story appeared in the Dec. 13 issue of The Hollywood Reporter magazine. Click here to subscribe.