Welcome back to Subscriptions Weekly! We’re kicking off the year with exciting news as we warmly welcome Joe Rohrlich as the new CEO of Recurly. Bobbie, the organic baby formula startup, is adjusting to soaring demand, and the looming challenge of failed payments may cost subscription companies over $129 billion in 2025. Plus, X is on track to revolutionize user experiences with its ambitious "everything app" vision. 

Thrilled to welcome Joe Rohrlich, our new CEO, to Recurly!

With a proven track record and exceptional leadership skills, Rohrlich brings extensive experience in scaling technology companies and a demonstrated ability to accelerate growth.

Expressing his enthusiasm, Rohrlich stated, "I am thrilled to join Recurly. The company has an innovative platform and has successfully partnered with world-class brands in the fast-moving subscription industry. I look forward to building on this position of strength and leading its next phase of growth." Read more on Recurly.com

Bobbie responds to unprecedented demand: Temporary limits on formula sales

In response to an overwhelming surge in demand, Bobbie, the organic baby formula startup, is implementing temporary measures to ensure the continued satisfaction of its existing customer base. Starting in January, the company will temporarily halt one-time online sales and limit new subscriptions, a strategic move aimed at preserving product availability for its loyal customers. Read more on Modern Retail.

Failed payments could cost subscription companies more than $129B in 2025

As the global subscription industry surges toward a projected market value of $1.5 trillion by 2025, subscription companies face a common nemesis—subscriber churn. Involuntary churn, specifically due to payment errors, threatens to leave an estimated $129 billion on the table in 2025 alone, creating a pressing challenge for even the most robust subscription businesses. Read more on Recurly.

X promises peer-to-peer payments, AI advances in 2024

Elon Musk has been detailing his vision for X’s transformation into an “everything app.” X has shared its roadmap for the year ahead, including AI-powered experiences and peer-to-peer payments. As of December, the platform was licensed for payment processing in a dozen U.S. states for users to send money to others on the platform and extract funds to authenticated bank accounts. Read more on TechCrunch.

Netflix's ad-supported tier surges past 23 million users amidst changing streaming landscape

In response to the growing financial strain on consumers and the increasing cost of ad-free streaming services, Netflix has witnessed a surge in the adoption of its ad-supported tier. The monthly active user base for this tier has surpassed 23 million globally, marking a significant uptick from the 15 million reported just two months ago, representing a growth of over 50%. Read more on PYMNTS.

📅 Reserve your copy: The 2024 State of Subscriptions report

Uncover benchmarks and predictions drawn from Recurly’s database of more than 2,200 global brands and 64 million unique subscribers in our State of Subscriptions report, crafted to provide unique insights and trends to guide your growth strategy in 2024. Join the waitlist.

📣 Save your spot! The 2024 State of Subscriptions virtual event

Join us on February 1st to hear from industry leaders at Recurly and Optimized Payments as they unveil key benchmarks, actionable insights, and data-driven predictions for the new year. Save your spot.

From the Recurly blog