MoviePass boasts it reached 1 million paid subscribers faster than Netflix and Hulu

Business Insider

MoviePass.

• Movie theater subscription service MoviePass said it's passed one million paid subscribers.
• The company said it hit the milestone faster than Netflix and Hulu.

The movie theater subscription service MoviePass has hit a major milestone.

The company announced on Wednesday that its surpassed one million paid subscribers. In August, the company changed to a $9.95 per month pricing model, and according to the company, its subscription base since then has increased over 6,500%.

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MoviePass boasts that after shifting its price on August 15, the company reached one million subscribers in less time than paid subscription services Spotify, Hulu, and Netflix.

MoviePass has disrupted the movie theater business since it dropped its price. Shortly after the news, AMC attempted to try and block the use of the service in its theaters, though that would be impossible unless the theater chain stopped accepting MasterCard, which is the credit card service MoviePass uses.

Earlier this month, Cinemark introduced an $8.99 monthly membership program for its customers that offers one ticket per month to a non-3D movie anytime, 20% discount on concessions, and the option to buy additional tickets at $8.99.