Welcome back to Subscriptions Weekly! This week, we’re diving into how new subscription laws are set to promote transparency while also offering potential benefits for businesses. We also explore the untapped potential of hospitality subscriptions, Paramount+ hitting 68 million global subscribers, and how social media and streaming propelled the Paris 2024 Olympics to record-breaking success.

New subscription laws putting money back in consumers’ pockets

New regulations are making it easier for consumers to cancel subscriptions, a move that benefits both customers and companies. Forbes explores these legislative changes, including the Federal Trade Commission’s proposed "click-to-cancel" rule, which aims to simplify the cancellation process and how by adopting these transparent practices, companies can boost customer acquisition and retention, building trust and loyalty for long-term success. Check out the full article on Forbes.

The untapped potential in hospitality subscriptions

The subscription model is gaining attention in the travel and hospitality industry, with several programs launching in recent years. Although paid loyalty programs currently account for less than 1% of global sales, they still show strong potential since they improve customer loyalty, offer stable revenue streams, and provide resilience against market fluctuations. Read the story on HNR.

Paramount+ at 68 million global subscribers ending Q2 2024

Paramount+ ended Q2 2024 with 68 million global subscribers, reflecting a decline for the quarter resulting from a planned exit from a South Korean bundle agreement. However, the numbers represent a year-over-year increase of 7 million subscribers. Paramount Global also reported a 13% revenue growth, driven by subscriber growth and price increases, along with a 16% rise in advertising revenue and a 26% boost in average revenue per subscriber. Read all about it on Streaming Better. 

Social media and streaming helped Paris 2024 Olympics win the gold

After two COVID-impacted Games, the Olympics has shattered viewership records for NBC, evolving into a global digital spectacle. Dubbed the "first streaming games," Tokyo 2020 set the stage, but Paris 2024 has truly moved the Olympics beyond primetime. With 17 billion minutes streamed across NBCUniversal’s platforms—surpassing Tokyo 2020 and Beijing 2022 combined—the Games highlight the power of streaming and social media in reaching record-breaking audiences. Full article on Wrap Pro.

Check out Recurly's new content:

📈💯Strategies to transform subscriber lifecycles

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📃🔄 How to improve subscription renewal rates and reduce customer churn

Managing a timely, effective dunning strategy could be the difference between dwindling revenue and an ever-growing customer base. Are you doing everything you can to recover failed payments? Here are 10 best practices to supercharge your dunning process. Download now.

💳✅ 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. Read now.

From the Recurly blog: