Best Subscription Strategies by Companies in 2023

Subscriptions is a growing market that is not tied to any one industry, you can find a subscription for basically anything now! Be it entertainment, necessities or even corporate tasks. So much happens every day in the world of subscriptions, it's up to us to learn from the subscription industry because it doesn't look like it's slowing down. You don't have to look far to see Subscription growth.

According to a report by Barclays, the spending on digital content and subscriptions by the people of Briton was up 4.1% YoY in March, its highest YoY rise in five months even though more than half of the people said they were cutting down on luxuries and eating out. If you're wondering why people are interested in renewing their subscription to streaming services, it's not an over-complicated strategy, but it's the simplest of them all - Quality over quality. The increase in subscribers is likely because of fan-favourite shows like Succession, Ted Lasso and The Mandalorian. But Subscriptions are not only tied to Streaming Services, A lot of prominent companies step into subscriptions in different ways.

For example, we all know of YouTube’s subscription model YouTube Premium to enjoy YouTube without ads and enjoy exclusive content. But now, YouTube has stepped into turning NFL Sunday Tickets into a subscription too! On April 11th 2023, YouTube started presales for NFL Sunday Ticket subscriptions. That’s right, YouTube is selling this as an add-on to their existing YouTube TV subscription which allows you to watch your favourite TV Channels on demand without the need for cable and with the option to DVR televised content to the cloud.

Not only are they offering NFL Sunday as a subscription, but they are also offering different subscription tires like Basic, RedZone and more! This was a smart decision by YouTube because this subscription model leads to more people subscribing to YouTube TV and also buying a subscription to NFL Sunday as well starting from $249. YouTube’s strategy to improve Presale Subscriptions is also genius, by offering an introductory offer during the presale period, more people will be inclined to buy it and also not procrastinate if they should purchase the subscription or not.

But Subscription Strategies don't only work in entertainment! In a recent report by Wired, used cars are being researched in how they can be turned into a subscription! The strategy that the automotive industry wants to use is to build up a continuous relationship with its customers both new and old. They say that 83 per cent of owners of used cars with built-in connectivity “remain untapped” and they want to fix it.

It doesn't matter what subscription industry you want to step into, the first step is always the hardest. Reading articles like these help, but it's up to you to get up and take action and you've come to the right place. Take your future, even though it may seem hard, Subscribie is here to help you make it seamless. Join Subscribie today and automatically collect payments and enjoy benefits like private plans, gated content, plan categorization and more!