SALT LAKE CITY — MoviePass just unveiled how many people use the monthly subscription service.
The company said in a statement released last week that it has 3 million paid subscribers. MoviePass started its low-cost subscription plans in August 2017.
The company said it hopes to exceed 5 million subscribers by the end of the year.
Currently, the company said it represents more than 5 percent of total U.S. box office receipts. MoviePass said it accounts for 8 percent of all moviegoers during “peak weeks.”
MoviePass subscribers have accounted for close to 30 percent of all moviegoers in some weekends, the company said.
“With MoviePass Films and MoviePass Ventures under the Helios umbrella, we are continuously adding more perks and services for our MoviePass subscribers. Consistent growth in MoviePass subscribers means we can utilize our media companies in ways no one has seen before,” said Ted Farnsworth, chairman and CEO of Helios. “With its considerable market share of moviegoers, MoviePass expects to influence its subscribers to engage with our other revenue channels throughout the entire film industry ecosystem.”
MoviePass announced last month that its parent company, Helios and Matheson Analytics, bought Emmett Furla Oasis Films, which produced such Hollywood blockbusters as Mark Wahlberg’s “Lone Survivor” and the crime drama “End of Watch,” according to the Deseret News.
HMNY said it would receive access to all of Oasis Films’ previous productions.
MoviePass will soon be rebranded as MoviePass Films, according to the Deseret News.
But MoviePass has so far rebranded as MoviePass Ventures, which will look to bring movies to your home through video-on-demand services, physical sales (DVDs and Blu-ray) and other ways, according to the company’s press release.
“MoviePass is moving quickly and decisively on a course to continue innovating the film industry from the ground up and delivering audiences for films and films for audiences,” said MoviePass CEO Mitch Lowe. “This is the eve of a transformative time in the movie industry. We are witnessing the dawn of a new Golden Age, where audiences, studios, and exhibitors are all connected, from top to bottom — all in the interest of diversifying the movie-going palate and demonstrating the success of smaller, independent titles.”