MoviePass secures one million paid subscribers

Cinemas News

MoviePass announced that it has surpassed one million paying subscribers.

MoviePass has increased its subscriber base by over 6500% since the introduction of its $9.95-per-month pricing model. On August 15, 2017, MoviePass shifted to a lower-priced subscription model and has since reached one million subscribers in less time than Spotify, Hulu and Netflix, the company reports.

"We are excited and proud to have reached the one millionth subscriber level in such a short time while still early in the consumer adoption curve," said Mitch Lowe, MoviePass CEO. "Our focus on creating the best movie theatre subscription service experience for our subscribers has propelled our growth to date. We believe that growth will continue as we further develop our application, improve customer service, enhance exhibitor relations and fill movie theatre seats for incredible films to be released in the future.

“MoviePass has accumulated more than one million new paying subscribers faster than many of the best known paid subscription services,” said Ted Farnsworth, chairman and CEO of parent Helios and Matheson Analytics Inc. “MoviePass has proven to be a significant force in the industry accounting for increased movie theatre revenue this year. We know this is what it will take for people to enjoy the experience of movies again and we’re thrilled that moviegoers are embracing a new and exciting era for cinema.”