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MoviePass lost 2.7 million subscribers since its peak, report says

SALT LAKE CITY — Leaked internal data from MoviePass shows that the subscription service once had more than 3 million subscribers.

It now has 225,000, according to Business Insider.

The drop in subscribers is another sign that MoviePass has gone downhill since it became a viral darling back in the summer of 2017. The subscription service catapulted to viral fame after it offered a plan of $10 per month for unlimited films.

MoviePass reached 3 million subscribers by June 2018.

“But the startup struggled to control its cash burn, which reached into the hundreds of millions of dollars,” according to Business Insider.

MoviePass announced a new “uncapped” plan in March that would offer no restrictions on the number of 2D films that people could see, which I wrote about for the Deseret News.

Yes, but: The movie subscription plan is still a working model. AMC Theaters and Cinemark both launched their own plans. And Sinemia, which was seen as an earlier competitor to MoviePass, is still kicking as well.