Neil Miller started Film School Rejects in early 2006 in Cleveland, Ohio, where he grew up, as a hobby blog with friends, he told the Austin Chronicle in 2010. Free DVDs and free screenings followed, and within about two and a half years he was making a living from it. After covering South by Southwest several times, Miller moved the operation to Austin at the suggestion of his managing editor, around the end of 2008.
The Chronicle profiled FSR in June 2010 as one of three Austin film sites that followed Ain't It Cool News. It reported that the site drew about 2 million unique visitors a month, had partnered with Crave Online's film channel, and had 18 contributing writers, four of them in Austin. The masthead that month listed Miller as publisher, Cole Abaius as managing editor, Brian Gibson, Robert Fure and Rob Hunter as associate editors, and columnists including Kevin Carr, Landon Palmer and Brian Salisbury, whose weekly Junkfood Cinema column ran on the site. The Chronicle singled out Abaius's post about A History of Violence screenwriter Josh Olson as "now-infamous." Miller called FSR "more of a commentary track" on entertainment, and its About page later used the same phrase. A Slackerwood writer listed FSR among the Austin film press in 2015.
Reject Media, LLC published the site, and by 2020 FSR also owned and operated One Perfect Shot and Nonfics. On December 10, 2024, FSR announced that after more than 17 years under a single independent owner, who it said had largely financed the site on credit cards, it had become unsustainable and was for sale. The post blamed corporate consolidation, AI content scraping and search engines devaluing human-written work. An archive capture in November 2025 showed that announcement as the newest post. On October 18, 2026, the home page read "FSR is currently offline" and said the site was still for sale.