Back in August, we covered the launch of MoviePass's new ‘unlimited' plan which offers customers access to watch a movie in a traditional theater once, every day. The reason this is so appealing is that this plan is priced at only $9.99/month and that is around the same price that you'd have to pay for a single movie ticket without any subscription. Additionally, the service launched an annual pass which brought the price down to just $6.95/month as long as you paid for the year in advance.
Yesterday, the service announced that they have officially passed the coveted 1 million paid subscriber mark meaning they are taking in nearly $10M a month in revenue. With domestic box offer sales dwindling as more consumers move to the web for their source of movies, a service like this may be the only way to keep the lights on despite theatre companies like AMC threatening legal action against MoviePass.