MoviePass Eliminating Annual Subscriptions

According to comicbook.com, MoviePass has announced this week that they are going to be eliminating on their annual subscription plan. MoviePass has sent out an e-mail to subscribers of the annual plan, and the company has announced that those members are going to be transferred to a monthly plan, where they will continue to be allotted one movie per day. According to a recent report from Variety, MoviePass has lost $127 million in the second quarter of the company's fiscal year alone.