Unlocking new revenue frontiers: News from Apple, CNN, and more
Welcome back to Subscriptions Weekly! We've got exciting news to share. In 2023, Recurly helped its customers recover a whopping $1.2 billion in subscription revenue worldwide. Over in the media landscape, CNN's CEO, Mark Thompson, is considering a digital subscription model, and Apple now allows U.S. developers to link to external payments in the App Store.
Car subscription platform Finn secured €100 million for tech expansion. Lastly, the kitchen is getting smarter, with companies like Samsung and LG integrating AI into devices and leveraging subscription models to drive recurring revenue.
Recurly recovers $1.2B in subscription revenue for its customers in 2023
We're excited to share that Recurly has successfully recovered $1.2 billion in subscription revenue for its customers around the globe in 2023. Leveraging our churn management tools, new subscription businesses can anticipate a potential revenue lift of 8.6% in the first year by nailing down inefficiencies. Read more on Recurly.com
CNN's CEO, Mark Thompson, plans to explore a digital subscription model
Mark Thompson, the newly appointed CEO of CNN, aims to consolidate the newsgathering operations across television, streaming, and digital platforms. This move is part of Thompson's strategy to optimize CNN's content delivery while exploring potential monetization avenues, including the possibility of introducing a digital subscription model. Read more on Reuters.
Apple now allows U.S. developers to link to external payments in its App Store policies
Apple has revised its App Store policies, allowing U.S. developers to include links to external payment platforms. However, developers must still pay Apple a 27% cut if they use an external payment system. Read more on The Verge.
Car subscription platform Finn secures €100 million in funding for tech expansion and electric vehicle focus
Munich-based startup Finn, specializing in a platform for new car subscriptions as an alternative to traditional ownership, has secured substantial growth funding. The platform currently manages 25,000 subscriptions in Germany and the U.S. Read more on TechCrunch.
Smart kitchen devices use subscription models to drive recurring revenue
Kitchenware companies are embracing the integration of artificial intelligence into smart appliances, with a focus on driving both initial sales and recurring revenue through subscription models. Samsung and LG displayed AI-powered kitchen devices that integrate with subscription-based services, such as Samsung Food+ and LG's own offerings. Read more on PYMNTS.
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