Failed payments have an impact on customer churn in the subscription business industry. Among all possible causes, declined card payments account for 50% of all customer churn, per market research, suggesting these customers would have remained subscribed if their payments had not been declined. The...
As streaming subscriptions have become the main way consumers listen to music, Warner Music Group (WMG) is seeing a shift, where there are new opportunities to drive revenue from artists’ older content. On a call with analysts Thursday (Nov. 16) discussing the global music entertainment...
OpenAI is putting a hold on new signups for its ChatGPT Plus program, due to widespread demand putting a strain on the platform, as tech companies increasingly rely on consumer subscriptions. The company’s CEO Sam Altman announced the pause in a post to the social media platform X, formerly known...
Following on the success of its limited-time taco subscriptions, quick-service restaurant (QSR) giant Taco Bell is expanding the model beyond just tacos. The restaurant chain announced Tuesday (Nov. 14) that it is launching the Nacho Fries Lover’s Pass, an offer exclusively available to Rewards Members,...
In recent months, the momentum of retail product subscriptions has waned, as consumers grapple with headwinds from economic challenges and a rising cost of living. Yet, within this challenging landscape, a small group of subscribers, termed “loyalists,” has emerged as a crucial cohort for retail...
When consumers with retail subscriptions subscribe to new services, PYMNTS Intelligence reveals, they are more likely to stick with what they know than to branch out to new kinds of subscriptions. By the Numbers The PYMNTS Intelligence report “The Impact of Subscription Models on Consumer...
As Snapchat looks to grow adoption of its subscription program, the app is reportedly testing a “Friends & Family Plan,” as social media platforms look to find ways to monetize outside of ad sales. Code within the app spotted by Android Authority suggests that the social media app popular...
Duolingo is seeing subscription growth, launching new tiers and constantly testing new features and enhancements to drive revenue and lifetime value (LTV). The company shared in its third-quarter 2023 earnings report Wednesday (Nov. 8) that total paid subscribers increased by 60% year over year to...
Bark is seeing consumers’ budget pressures take a toll on new subscribers, but those who are already enrolled continue to subscribe despite these challenges. The company, which is behind the direct-to-consumer (D2C) dog toy and treat subscription service BarkBox, noted on a call with analysts...