The decline is partly blamed on DVD sales, which make classics readily available to viewers.
The L.A. Times reports the museum is not abandoning its commitment to films and filmmakers, however. It says LACMA plans to rethink its approach to the art form, and plans to look for potential donors, creating a program that could be curated like other exhibits at the museum.
"It's not that people don't love film here, but it's hard," the museum's director Michael Govan told the Times. "We are getting diminishing audiences. This is a good time since we are shrinking to spend time thinking and rethinking. We do have to stem our losses."
The museum says the weekend screenings have lost $1 million over the last 10 years.
"The Classic Films of Alain Resnais," will be the final weekend screening, and be held Oct. 2 to 17.
City News Service contributed to this report.