Managing subscriptions, real-time payments, & streaming news
Happy Subscriptions Weekly day! In this edition, we dive deeper into the strategies for managing subscriptions this year and how real-time payments will bring businesses a competitive advantage. We review the latest updates from HBO Max, Netflix, and Amazon, and Hinge’s test for a premium subscription.
7 strategies for managing subscriptions in 2023 (as businesses & consumers)
As the industry continues to grow, businesses seek new ways to avoid subscription fatigue. With so many subscriptions available, how can you stay relevant and attract new subscribers? The answer lies in freemium plans and pausing options, a high-value product, and billing flexibility.
Amid economic uncertainty and competitive pressures, your team must be equipped to reach your 2023 growth goals. Join us for a 30-minute session next January 26th, and learn the executive insights you need about churn, acquisition, growth, and recurring payments.
Know before you go: Here’s what you need to know about the event.
61% of businesses expect a competitive advantage with real-time payments
According to the Real-Time Payments Tracker–a PYMNTS and The Clearing House (TCH) report–consumers seek a fast and always-on experience for payments like any other digital interaction. Several businesses have found that real-time payments give them advantages that are especially important to their customer experience. Learn more on PYMNTS.
The battle of the streams–news from the giants
Consumers speak, and streaming brands respond (and vice versa). Here are the latest updates from the industry giants:
HBO Max subscribers can livestream U.S. national soccer games: This announcement will help the brand better compete with rivals in the sports place. Subscribers can watch pre and post-game coverage, live matches, and replays–with no ads. Read more on TechCrunch.
Netflix ad plan (and subscription growth) struggles to gain traction: While dealing with consumer spending, rising production costs, and increased competition, the brand is expected to report its slowest quarterly revenue growth as its ad plan struggles to attract consumers. Learn more on Reuters.
Amazon Music to hike prices of some subscription plans: The ecommerce giant will increase the prices of its Unlimited Individual Plan to $10.99/month and its Unlimited Individual Student Plan to $5.99/month. Read more on Reuters.
Dating app Hinge tests premium subscription
Match-owned dating app Hinge confirmed it’s testing a higher-priced premium subscription of $50 to $60 monthly. It aims to attract highly motivated daters willing to boost their exposure and get better recommendations. Keep reading on TechCrunch.
Join Recurly at these exciting events
The 2023 State of Subscriptions webinar: Set your team up for success with insights from more than 2,200 global brands. Learn the upcoming industry trends and consumer demands. Save your spot.
Recurly platform demo and Q&A. See first-hand how you can reduce churn, maximize revenue, boost growth, and improve payments. Come armed with your subscription questions! We'll be happy to answer them. Save your spot here.
From the Recurly blog
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