Welcome back to Subscriptions Weekly! First up, the European subscription market is thriving, even with tight budgets and rising prices. A whopping 60% of Brits would jump on more subscriptions if they could afford it. Subscriptions are transforming how we view ownership itself. Spotify is rolling out an extra-premium tier for those who crave top-notch audio quality and smart playlist tools. And, while streaming prices are on the rise again, these hikes are about adding value, pushing us toward more cost-effective ad-supported tiers, and offering bundles that save us money in the long run.

Convert subscriber engagement to revenue in one click

Engaged subscribers are more loyal and profitable. Your best chance to get your subscribers' attention is when they’re actively using your product. With Recurly’s lifecycle engagement tool powered by Redfast, growth and product teams can finally take control of the in-app subscriber journey by using a personalized experience that keeps users coming back and getting the most value out of their subscriptions. Read more on Recurly.

European subscription market is still booming despite tight budgets

Despite rising prices and password-sharing crackdowns, Europeans are still big fans of subscription services. A study found that 60% of British consumers would sign up for more subscriptions if they could afford it. A survey of 5,000 people across the UK, France, Spain, Germany, and Italy revealed a strong interest in subscriptions, even though Europeans generally spend less on them than Americans. Read more on StreamTV Insider.

Subscriptions are rewriting the rules of ownership

From Netflix and Spotify to mobile phones, furniture, and home appliances, almost everything is available on a subscription basis these days. The idea of outright ownership is starting to feel a bit old-fashioned. According to FT Strategies, half of consumers believe subscriptions let them access products and lifestyles they couldn't otherwise afford. Is this the future of consumerism? Can subscribing really replace buying? Read more on CNA.

Spotify has a new tier for the ultimate music nerds

Spotify is reportedly gearing up to launch an extra-premium subscription for true music nerds. This new tier, set to debut later this year, will offer better audio quality and advanced playlist tools, according to Bloomberg. Besides superior sound, this new tier will also introduce tools to create custom playlists tailored to specific activities or seasons. Spotify will learn your preferences and eventually craft playlists without any input from you. Read more on Business Insider.

Streaming prices are hiking again–and why it's not all bad news!

Hold onto your remotes and earbuds! Streaming services are raising their prices again, but don’t fret–there’s more to this story than just higher bills. But why the hike? It’s not just about charging more; it’s about adding value. These price increases are also strategic moves; they aim to nudge users towards more lucrative ad-supported tiers and bundled services. Moreover, bundles are making a big comeback, services are teaming up to offer packages that reduce churn and attract new subscribers. Read more on The Hollywood Reporter.

Focused on scaling subscriptions? 📈 Meet Recurly at SubSummit

The Recurly team will be at booth #408 at SubSummit in Dallas from June 17th to 19th, this is where the subscription industry’s biggest names unite to connect, learn, and grow. We'll be sharing our latest State of Subscriptions industry report data, consumer trends, how to convert subscriber engagement to revenue in one click, and best practices leveraged by some of our customers, like Twitch, Paramount+, and FabFitFun. 

Stop by our booth to get a new complimentary headshot and the chance to win a $500 FabFitFun gift card! Book a meeting with us.

Learn how to transform billing and payments into a growth engine

In the rapidly evolving world of subscription management and recurring billing, understanding the pivotal role of payment experience is crucial for your business. This on-demand event addresses the key challenges that hold back your subscription potential, equipping you with the knowledge to unlock new opportunities for growth. Watch on-demand.

Unlock the potential of every successful subscription payment

Explore how payment optimization is pivotal for subscription success in this commissioned study conducted by Forrester Consulting on behalf of Recurly, offering insights on overcoming payment failures, reducing churn, and boosting growth. Download the study now. 

From the Recurly blog