Every week, we bring you the top stories and analyses from the global Subscription Economy.
US Recorded Music Business Grew 18% in First Half of 2019
Excerpts from an article by Colin Stutz on Billboard
In the first half of 2019, the U.S. recorded music business grew 18% to $5.4 billion at retail, according to the Recording Industry Association of America’s (RIAA) mid-year report published Thursday (Sept. 5).
That overall growth is up from a 10% increase reported in last year’s mid-year analysis and continues the trend of double-digit growth driven by subscription streaming that began in 2016. In the same report last year, streaming made up for 75% of total industry revenues, showing a 6.7% uptick in the format’s overall dominance to the current 80% market share reported here.
Streaming revenues grew 26% to $4.3 billion over the six months period, accounting for 80% of industry revenues. An average of more than 1 million new subscriptions each month contributed to that, with total paid subscriptions across the country now reaching 61.1 million.
For more, read the full article on Billboard.
U.K. Print Media Grows Amid Brexit News Cycle
Excerpts from an article by Sara Guaglione on MediaPost.
U.K. media companies from The Financial Times to The Guardian have reported growth in the last year, amid the boom of the Brexit-related news cycle and a continuing focus on digital subscription strategies.
The Financial Times reported yesterday that its media group made £8.15 million in profit last year, up 68% from £4.65 million in 2017. Digital subscriptions grew by 11% year-over-year to 796,000. The FT’s digital paid readership now represents more than three-quarters of its total circulation.
In August, Guardian Media Group also had some news. It announced that it broke even in the 2018-2019 financial year, due to digital revenue growth and contributions from readers.
For more, read the full article on MediaPost.
Vitamin Shoppe gives customer shot at subscription
Excerpts from an article by Dan Berthiaume on CSA.
The specialty health-and-wellness retailer is the latest chain to seek a boost from a subscription service.
The Vitamin Shoppe is launching Only Me, a personalized online assessment that delivers a custom assortment of vitamins and supplements to participating subscribers each month. Designed by medical experts, Only Me utilizes a detailed questionnaire about current health status and daily routines to curate a wellness plan for each individual.
The personalized subscription service is priced starting at $20 per month, with individual plan prices based upon the total recommended products and dosages. Pre-packaged daily Quick Packs are also available for purchase, such as sleep, pre-natal, beauty, and foundation.
Only Me also provides users with access to The Vitamin Shoppe’s team of certified nutritionists, who serve as an ongoing resource for customers and are available for one-on-one coaching and consultations, via live video chat, phone, or in-store consultations in select markets. The Vitamin Shoppe’s nutritionists are part of the retailer’s Free Nutrition Coaching from Healthy Awards program, which is now available to all Healthy Awards loyalty members. The program offers personalized, 45-minute consultations for silver and gold members and 30-minute consultations for bronze members with a nutrition coach by live video chat, phone, or in-store visit. The virtual sessions include individual nutrition and supplement recommendations, and customized health guides tailored to a customer’s lifestyle.
For more, read the full article on CSA.
And for more Subscription Economy resources and events, head to www.subscribed.com.