Welcome to Subscriptions Weekly! This week’s headlines show how the subscription economy is adapting to shifting customer behaviors — from loyalty perks to AI-driven personalization. AMC brings movie passes into the digital age, Amex revamps its loyalty program with more recurring perks, and tech companies continue doubling down on AI-enhanced subscriptions.

Meanwhile, Subscription Sessions: Spring edition is almost here (have you saved your spot?), and the 2025 State of Subscriptions report continues to help brands rethink growth in the retention era. Let’s dive in!

AMC tests on-demand, ad-free subscription perks

AMC Theatres is piloting a new tier of its Stubs loyalty program that blends streaming benefits with traditional moviegoing. The enhanced “AMC Stubs Premiere+” tier includes monthly popcorn, discounted tickets, and access to AMC’s on-demand platform ad-free.

Why it matters: This move highlights how hybrid loyalty models (physical + digital) are becoming a key retention lever. By bundling real-world perks with digital content, subscription businesses can strengthen engagement and tap into consumer demand for more holistic value. Read more

American Express expands subscription-style loyalty benefits

Amex is overhauling its membership rewards program to offer more recurring, lifestyle-based benefits — including exclusive content, curated shopping access, and streaming partnerships. 

Why it matters: Loyalty is shifting from points to experiences. Subscription-inspired rewards — like bundled entertainment or ongoing perks — are turning traditional loyalty programs into retention engines. This blurs the line between loyalty and subscription, opening new opportunities for brands to differentiate. Read more

Southwest may start charging for bags and seat selection

The airline known for “bags fly free” is rethinking its model — considering basic economy fares and fees for what used to be free. Despite having a subscription-like fare (Wanna Get Away Plus), it’s turning to à-la-carte pricing to boost revenue. For subscription brands, it’s a reminder: When value feels unbundled, loyalty can unravel. Read more

Upcoming streaming releases drive subscription engagement

April 2025 is set to be a significant month for streaming services, with major releases like "Andor" Season 2 on Disney+, "The Last of Us" Season 2 on Max, and the final season of "The Handmaid's Tale" on Hulu. These anticipated shows are expected to attract and retain subscribers, highlighting the importance of compelling content in the subscription model. 

​Why it matters: High-quality, exclusive content remains a critical driver for subscription growth and retention. Streaming platforms continue to invest heavily in original programming to differentiate themselves and provide value to their subscribers.​ Learn more about what’s coming

New from Product Perspectives: AI companies & usage-based billing

AI companies are shifting toward usage-based billing — charging by tokens, compute time, or API calls — to create more flexible and fair pricing. In this Product Perspectives post, Recurly VP of Product, Niraj Naik breaks down the models that work best (with dad jokes included). Pricing flexibility is no longer optional. As more AI and SaaS companies scale, usage-based strategies are helping them align costs with value and stay competitive in a dynamic market. Read the full breakdown here

Subscription Sessions: Spring edition is almost here!

The countdown is on. Our biggest subscription event of the season goes live April 16th. Join product experts, leaders from Scentbird, FafFitFun, PayPal, Recurly, and more for a free virtual conference packed with growth insights.

  • April 16, 2025 | 10 AM BST / 10 AM PST

  • Free virtual event | One day, five sessions

Secure your spot now

2025 State of Subscriptions report: Your growth playbook

Recurly’s latest report tracks where the industry is headed — and where your brand should focus next. With acquisition slowing and retention rising in importance, this year’s benchmarks and insights help businesses sharpen

Download your copy now!