Saturday, March 28, 2020
Brand Awareness

The Subscription Economy

Nothing worse than wanting to read an interesting article and hitting a paywall—in other words, you need a subscription. Like it or not, we are likely to see more of that as more and more businesses embrace the subscription model or face certain death. The insight of consumer behavior that comes with subscription plans and paywalls help companies build more engagement metrics. You may already subscribe to this model yourself as a consumer by using Netflix, Dropbox or Pandora, for example. In recent years the subscription market has grown by over 100% per year, up from $57 million in sales in 2011 to $2.6 billion in 2016. According to Tien Tzuo, author of “Subscribed: Why the Subscription Model Will Be Your Company’s Future—and What to Do About It,” the subscription-based business model is growing and if you aren’t shifting to it now chances are that in a few years, “you might not have any business left to shift.”

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