Login

News Post

The real reason you’re paying for so many subscriptions

LivemintLivemint · 9m
The real reason you’re paying for so many subscriptions

Many people overpay for unused subscriptions, a hidden force driving the subscription economy. Americans spend billions on forgotten subscriptions. A survey by West Monroe found Americans underestimated their monthly subscription spending, with an average guess of $96 when the actual average was $273. However, there's a growing trend of strategic subscription management, with nearly 25% of US subscribers canceling at least three services in the past two years. A study found that card replacements led to a sharp drop in subscription retention, highlighting the inertia in subscribers. Proposed solutions include prompting users to actively choose renewal periods and leveraging usage data for personalized subscription reminders. The Federal Trade Commission has proposed a rule for annual subscription reminders.

6
View Source

Comments

More Like this

4B Networks' Rahul seeks anticipatory bail in ₹10 crore fraud case

4B Networks' Rahul seeks anticipatory bail in ₹10 crore fraud case

Counterintuitive advice for building AI products

Counterintuitive advice for building AI products

Couldn't afford them when we started: Kamath on no IIT, IIM grads at Zerodha

Couldn't afford them when we started: Kamath on no IIT, IIM grads at Zerodha

You Don’t Need to Use Airplane Mode on Airplanes

You Don’t Need to Use Airplane Mode on Airplanes

China's Tencent Music beats revenue estimates on paid subscriber growth

China's Tencent Music beats revenue estimates on paid subscriber growth

I don't have to pay stamp duty in stock market: Nikhil Kamath after buying his 1st house

I don't have to pay stamp duty in stock market: Nikhil Kamath after buying his 1st house

Godrej Industries Group's family office pares 4.4% stake in Sobha for Rs 858 crore

Godrej Industries Group's family office pares 4.4% stake in Sobha for Rs 858 crore

Subscriptions help Urban Company clock profit ahead of IPO

Subscriptions help Urban Company clock profit ahead of IPO

Indian Startups Using LLM Models To Solve Real World Problems: Microsoft India CTO

Indian Startups Using LLM Models To Solve Real World Problems: Microsoft India CTO

How Nazara Managed To Score A Point While Other Gaming Companies Cry Foul

How Nazara Managed To Score A Point While Other Gaming Companies Cry Foul

Download the medial app to read full posts, comements and news.