Every week, we bring you the top stories and analyses from the global Subscription Economy.
4 Things to Know About the New Revenue Recognition Standard
Excerpts from an article by Lisa Wigington in the Telegraph Herald.
The new revenue recognition standard is here for all public and private entities who use Generally Accepted Auditing standards to prepare their financial statements.
Private companies are required to comply with the new standard that was effective for public companies as of Jan. 1, 2018.
Our experience indicates that many companies are not adequately prepared to implement the standard or even understand its impact on their particular company or industry.
Read the full article in the Telegraph Herald.
Publishers Chafe at Apple’s Terms for Subscription News Service
Excerpts from an article by Benjamin Mullin, Lukas I. Alpert and Trip Mickle for The Wall Street Journal
Apple’s plan to create a subscription service for news is running into resistance from major publishers over the tech giant’s proposed financial terms, according to people familiar with the situation, complicating an initiative that is part of the company’s efforts to offset slowing iPhone sales.
In its pitch to some news organizations, the Cupertino, Calif., company has said it would keep about half of the subscription revenue from the service, the people said. The service, described by industry executives as a “Netflix for news,” would allow users to read an unlimited amount of content from participating publishers for a monthly fee. It is expected to launch later this year as a paid tier of the Apple News app, the people said.
Read the full article in The Wall Street Journal
TechCrunch Unveils a Subscription Product, Extra Crunch
Excerpts from an article by Max Willens in Digiday
TechCrunch has spent nearly 15 years covering the technology and startup worlds. This week it will try to forge a new kind of relationship with those communities.
On Tuesday, Feb. 12, the Verizon Media Group-owned publisher will launch Extra Crunch, a subscription product that costs $15 per month. Subscribers will get exclusive content, as well as a pair of exclusive site features such as Rapid Read mode, which allows users to digest more of TechCrunch’s report in a quicker fashion.
Subscribers get offline perks too, including members-only benefits at TechCrunch events; access to a community of founders and vertical experts; and invitations to weekly conference calls in which TechCrunch editorial staffers break down corporate earnings, IPOs, and other important tech moments.
Read the full article in Digiday
Interbrand and Zuora Join Forces to Help Global Brands Succeed in the Subscription Economy
Zuora, the leading cloud-based subscription management platform provider, today announced it will partner with Interbrand – the global brand strategy consultancy of Omnicom Group Inc. – to help the world’s largest companies succeed in the Subscription Economy through joint business, brand and technology strategy.
Together, Zuora and Interbrand will help companies seeking to launch new subscription services. Interbrand can help them with positioning, narrative and message development. Similarly, for Interbrand clients who are shifting to digital services and need a monetization strategy, Zuora will help them automate and manage the entire subscription order-to-revenue process.
By helping customers implement and communicate new pricing and packaging models, Zuora and Interbrand will enable them to gain insights into subscriber behavior, open new revenue streams, and disrupt markets to gain a competitive advantage.
Read more here.