MoviePass, a Netflix-like movie subscription service, continues to see sharp growth — now topping 3 million subscribers.
MoviePass has seen strong results since drastically dropping pricing in August 2017 from $50 a month to $9.95. The service allows subscribers to see one movie per day.
After the price change, MoviePass dramatically expanded its customer base to 2 million consumers, from around 200,000 last summer. It now expects to get to 5 million subscribers by the end of 2018.
MoviePass is accepted at more than 91% of theaters across the United States.
MoviePass says its users’ subscriptions represent more than a 5% share of U.S. box-office revenue, reaching 8% in certain peak movie-going weeks.
Earlier this year, for a limited time, MoviePass offered a $6.95-per-month deal for new subscribers who bought an annual subscription.
After some potential legal tussles late last year with AMC Theaters -- and a cutback on some of the chain’s theater chain taking MoviePass subscribers -- MoviePass subscribers are now allowed to use their subscriptions at all AMC theater locations, according to reports.