MoviePass now has more than 1 million subscribers

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MoviePass just announced that it now has more than 1 million paying users.

This summer, the subscription service dropped its prices from a tiered model of $15 to $50 per month, to a flat fee of $9.95 per month. One week later, MoviePass was up to 150,000 subscribers, when it had just 20,000 a few months earlier. Last month, the company briefly offered an even cheaper one-year subscription plan, which came out to around $7 per month, but required users to pay for the full year in advance.

MoviePass has ballooned in just a few short months, but subscribers and theater chains are suspicious of its business model. MoviePass is subsidizing the cost of each ticket its users buy, at a maximum of one ticket per user per day, and almost…

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