How Mubi Lost Thousands of Subscribers & Millions in 2025 — Report

Renowned British streaming giant Mubi reportedly experienced a torrid 2025, suffering millions in losses, all the while losing over 200,000 subscribers in the latter half of the year. In a recent interview, Mubi founder and CEO Efe Cakarel highlighted the developments that ultimately harmed his company last year and also provided an update on its current situation.

Why Mubi lost 200,000 subscribers in 2025 explained

According to a recent report, the streaming platform faced extreme difficulties in maintaining its subscriber base shortly after closing an investment deal with Sequoia Capital.

As per the Wall Street Journal, Mubi had originally kicked off 2025 with an internal goal of hitting the 2 million subscriber mark. It was able to complete 1.44 million subscribers by spring, with its $12 million acquisition of the award-winning feature, The Substance, playing a significant role in the achievement.

However, things took a drastic turn when prominent VC firm Sequoia Capital came on board as an investor. Sometime after the deal, allegations that the company had funded multiple start-ups that worked with Israel’s military, including Kela, started coming up.

This resulted in a host of collaborators and subscribers, specifically those who sympathized with the Palestinian stance, cutting their ties with Mubi. As such, the streaming platform ended up losing over 200,000 paid users, causing their subscriber tally to plummet to 1.2 million by the year’s end.

Additionally, Mubi reportedly recorded a loss of $7.3 million on some $200 million of revenue in 2025. In November, the organization decided to offer three months’ worth of salary to anyone who was ready to resign. 12 people pounced upon the proposal, with Mubi laying off several more employees.

“Losing subscribers and growth slowing down—it was all very real,” Cakarel noted. However, he defended the partnership with Sequoia, stating that it allowed his company “to keep backing ambitious cinema.” Cakarel added that Mubi continues to distance itself from political matters and “did not do a portfolio-wide human rights audit of every investment made across decades.”

Nevertheless, Mubi has since bounced back and currently boasts a subscriber count of 1.7 million.

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