New MoviePass climax doesn’t write in profit

MoviePass, the $9.99-a-month, all-youcan-watch cinema buffet, said Wednesday that it has surpassed the threshold of 3 million members.

The milestone comes four months after it reached 2 million and less than a year since it slashed its price from $50 a month. Before the price cut, MoviePass had 20,000 subscribers.

Though the company’s meteoric rise has slowed, MoviePass says it is still on track to surpass 5 million subscribers by Dec. 31.

MoviePass subs represent “more than 5 percent” of US box office receipts on average, it said.

The announcement of the 3-million-subscriber milestone did nothing to buoy the stock of MoviePass parent Helios & Matheson Analytics. Its shares fell 5.4 percent on Wednesday, to 37 cents — and is down nearly 99 percent since October.

MoviePass, which pays full price for its subscribers’ tickets, spooked Wall Street last month when it said it was burning through cash at a rate of $22 million a month — and had only $15.5 million on hand as of April 30.

The company has since moved to cut costs. Subscribers are no longer allowed to see films more than once and pass-sharing was made more difficult.

MoviePass recently released its first film — “American Animals” — through its MoviePass Ventures arm, and will be releasing the John Travolta-led “Gotti” on Friday.