Understanding Subscription Value & Convenience
Welcome back to Subscriptions Weekly! In this issue, we review how generative Artificial intelligence solutions change the way businesses process payments–and how the future looks. We tell you more about Max and Peloton’s U.S. re-launch, why Netflix users are unhappy with the new password-sharing crackdown, and five subscription lessons for marketers.
How could generative AI change payments processing?
While generative artificial intelligence makes headlines, this technology has driven efficiencies for years–especially within the payments space. Automated machine learning and predictive AI solutions are helping businesses streamline formerly manual processes within areas like accounts payable and accounts receivable, forecasting, fraud prevention, compliance, and more.
Given the exponential growth of embedded payments, today’s companies must protect themselves against a rising tide of modern fraud and find new ways to acquire and retain customers within an increasingly digitized commerce landscape. Learn more on PYMNTS.
Subscription companies see an opportunity in payment methods–delivering the convenience consumers seek by offering their preferred payment alternatives. Download The State of Subscriptions report to get more insights into the subscription economy and learn how to recession-proof your business with the right strategy across the subscriber lifecycle.
Max makes its U.S. debut, giving subscribers 35K hours of content
Warner Bros. Discovery launched Max to U.S. subscribers last Tuesday, giving them access to 35,000 hours of content—more than double the amount that HBO Max offered. All users will have their previous plan details, profiles, settings, and other preferences. The revamped streaming service will roll out in Latin America later this year and to more markets in 2024. Read more on TechCrunch.
Peloton relaunches its workout app with new free and pricier subscription tiers
The company that it’s looking to rebrand as a fitness company instead of being known as an in-home bike company–hoping to attract people who may not be able to afford its hardware equipment. Peloton is revamping its workout app to offer users three different tiers and a new “Gym” function allowing users to take the app into the gym with them. Learn more on TechCrunch.
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“Cancel Netflix account” searches soar amid password sharing crackdown
Netflix has made it clear to account holders that Netflix accounts are for them and the people they live with, and many people who use the streaming service have expressed disappointment. Online searches for “cancel Netflix account” have skyrocketed by 2,939%, while “Netflix password sharing” rose by 1,469% as UK-based account holders look to see what the changes will mean to them. Read more on Yahoo! News.
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Five lessons marketers can borrow from the ever-expanding subscription-based model
Ever-increasing customer expectations and challenging economic situations encourage marketers to seek new ways to build deep-rooted loyalty. And one thing subscription businesses have in check is they’ve built a strong relationship with consumers, which means that when times get rocky, they’re more likely to think twice about leaving.
Check out this article by Recurly CMO Theresa McEndree , to discover five strategies you employ to drive retention, scale, and create powerful experiences.
Join Recurly at these exciting events
On-demand webinar series: We’re ready to show you how to gain a holistic view of your subscription business and build cross-platform workflow automation through Recurly’s APIs and webhooks. Watch now!
Virtual event: Modern CTOs: Engineering subscriptions that scale. Hear from Tony Allen , Recurly CTO, and Andrei Rebrov 🚀 , Scentbird CTO, and discover how to build an unshakeable foundation that supports the performance, security, and compliance risks subscription businesses face. Save your spot.
Virtual event: Uncovering the subscriber landscape: Customer perspectives & trends to drive revenue. Join Oscar Wall , Recurly EMEA General Manager, and Jonas Åström , Recuro Founder and CEO, as they share their expert insights on consumer preferences, their impact on revenue, and how to grow recurring revenue across the subscription lifecycle. Save your spot.
From the Recurly blog
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Founding Partner @ House of Kaizen | Subscription Marketing Specialist
1yTotally agree…and is all starts with understanding #subscriber needs and expectations. Active + Passive Listening Data + Research