MoviePass lost 2.7 million subscribers since its peak, report says

FILE - In this Jan. 30, 2018 file photo, Cassie Langdon holds her MoviePass card outside AMC Indianapolis 17 theatre in Indianapolis. The startup that lets customers watch a movie a day at theaters for just $10 a month, is limiting new customers to just four movies a month. The move comes as customers and industry experts question the sustainability of MoviePass’ business model. Because MoviePass is paying most theaters the full price of the ticket, the service is in the red with just one or two movies in a month. (AP Photo/Darron Cummings, File)

Darron Cummings, AP

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This Aug. 23, 2018, file photo shows Movie Pass debit cards and used movie tickets in New York. Sources say leaked internal data from MoviePass show that the subscription service once had more than 3 million subscribers, but the number is now much lower. (AP Photo/Richard Drew, File)

Richard Drew, Associated Press

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In this Jan. 30, 2018, file photo, Cassie Langdon uses to her phone to launch the MoviePass app to see what movies are available at AMC Indianapolis 17 theatre in Indianapolis.S ources say leaked internal data from MoviePass show that the subscription service once had more than 3 million subscribers, but the number is now much lower. (AP Photo/Darron Cummings, File)

Darron Cummings, Associated Press

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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.

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