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The COVID-19 pandemic has wreaked havoc on the global economy, consumer habits (and emotions), and our very way of life—from social-distancing to the tens of millions who’ve suddenly found themselves out of a job. How has this all translated to trends within the subscription economy?
Discover the impacts of COVID-19 to trials and growth rates across six industries: Business & Professional Services, Digital Media & Entertainment, Consumer Goods & E-Commerce, Education, Software, Travel, Hospitality & Entertainment in the latest Recurly Research.
In this exclusive, free special report find out the benchmarks for subscription growth and:
The surprising impacts to free trials during COVID-19—and the industries most affected
Trends for new paid subscription growth and conversion rates, overall and in each specific industry
Insights and explanations for the economic impact each industry has seen
New trials see huge double-digit growth across industries
The last two weeks of March saw the largest increase in New Trials at 120% and 101%. In April there was healthy growth, with trials hovering between 20%-30%.
What were the trial growth rates in your industry and how were they impacted by the pandemic?
Discover the impact on trial growth.
Free trials convert to new subscriptions peaking in April
Growth in new subscriptions immediately increased during the first few weeks of COVID, ranging from 20%-40% higher than the pre-COVID timeframe. April saw the highest growth of any month with peak growth of 85% and the weekly data staying above 60% the entire month.
How did free trials convert to new, paid subscriptions by industry?
Discover the impact on trial conversions.
Discover how to make subscriptions a competitive advantage for your business.
