Dimitar Serafimov| Wed Jun 06 2018 CET| Subscriptions
Broadcasters and content producers have increasingly started to focus on growing their online digital subscription revenue and on formulating ever more varied and appealing digital subscription packages.
Looking across all forms of online media, Deloitte found these principal drivers of the rise in online media subscriptions:
These are heavily backed by the technological enablers that are facilitating online-only subscriptions. The steady rise in broadband speeds, the growing base of devices, ease of sign-up (and sign-out) and the growing size of mobile screens tops the list.
Numbers say that video and the SVOD model is the favorite among consumers.
One fact that supports the cause is that consumers are ready to embrace more video subscription packages (than music for example), because video content is more diverse, more niche, and more local. That is why SVOD always beat other types of digital content.
A whole bunch of subscription management apps surged in the last few years offering to help users handle the growing subscription packages. These services promise to give people the information they need to only pay for the services that they actually use and be efficient with their budgets. Truebill, Trim are some of the most popular ones.
To wrap it up, consumers have become increasingly willing to pay for digital content – and at this moment, subscriptions are the optimal model for both consumers and providers.