Subscription Economy News: Week of 09/21/20

Subscription Economy News: Week of 09/21/20

Every week, we bring you the top stories and analyses from the global Subscription Economy.

A fresh publishing study argues that paid digital subscriptions are the only avenue to growth

Excerpt from an article by Rick Edmonds on Poynter

[Tthe latest Subscription Economy Index] has a good news/bad news mix for the publishing segment. Bottom line: Subscription volume continues to grow even during the pandemic, but ads (as measured by other sources) are sinking even faster than they were before and will continue to do so.

Hence, “publishers who are not using digital subscriptions should start,” the report recommends. Those already well into building that base have the data to more deeply engage audiences and upsell them new services.

“We need to reinvent publishing … (to maintain local journalism),” said Zuora’s Amy Konary.

For more, read thee full article on Poynter and download some of the latest research from The Subscribed Institute at Zuora

Is Tesla About to Launch an Autopilot Subscription Service?

Excerpt from an article by Daniel Sparks on Motley Fool

With Tesla shares soaring more than 800% over the past 12 months, the automaker needs to have a few new catalysts up its sleeve to continue supporting its pricey valuation.

One potential driver for the company that may be on the horizon is a new subscription service, which CEO Elon Musk has said will probably launch toward the end of this year.

A subscription service would make sense for many customers, particularly those who are leasing their Tesla vehicles, or who aren’t sure how long they will keep their current Tesla.

While a subscription service for Autopilot could certainly make the technology more accessible to a wider base of customers, the missing element in the automaker’s growth plans is fully autonomous driving.

For more, read the full article on Motley Fool

Rent the Runway Adapts Clothing Subscription Business Model

Excerpt from an article by Subscription Insider

Rent the Runway is adapting its clothing subscription business model to streamline the organization and meet the changing needs of today’s shoppers.

The company is closing its physical stores, eliminating their unlimited rental subscription option, offering new plan options, and updating pricing.

The new plans allow subscribers to choose up to four, eight and 16 items per month, ranging from $89 to $199 per month, after free trials. There are no long-term commitments, and subscribers can pause or cancel their clothing subscriptions at any time.

“We believe that when a member is in the right plan that matches their needs and budget, they’ll stay with us longer and keep renting — helping us on our mission to reduce clothing waste and build a better future for fashion,” [the company] said.

For more, read thee full article on Subscription Insider and learn Zuora CEO Tien Tzuo’s thoughts on why the retail industry is ripe for change

Sam’s Club offers doctor visits with new telehealth subscription while Walmart pilots COVID-19 test drone delivery

Excerpt from an article by Kelly Tyko on USA Today

Sam’s Club is giving its members a new way to see the doctor – virtually.

The Walmart-owned warehouse club chain announced a partnership with Seattle-based virtual primary care provider 98point6 Tuesday to provide members with an exclusive introductory fee and quarterly subscription.

Sam’s Club members with either a Club or Plus membership level can sign up for a quarterly subscription to 98point6’s telehealth virtual clinic via a text-based app for $20 per participant for the first three months, $10 less than 98point6’s regular sign-up fee of $30.

“Offering access to telemedicine was on our roadmap in the pre-COVID world, but the current environment expedited the need for this service to be easily accessible, readily available and most of all, affordable,” John McDowell, Sam’s Club vice president for pharmacy operations and divisional merchandise.

For more, read thee full article on USA Today and read Zuora CEO Tien Tzuo’s interview with Savia where they discuss telemedicine in the time of COVID-19.

 

For more Subscription Economy resources and events, head to www.subscribed.com and subscribe to Zuora CEO Tien Tzuo’s Subscribed Weekly newsletter, coming to your inbox every Saturday. 

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