Subscription business models are a big business, grew at 300% over the past few years. 70% of U.S. Consumers are subscribed to at least one subscription service, and the average subscriber has about 3 subscriptions.
However, 8% of these subscribers usually cancel within one year unless a new promotion is offered to them. 22.8% of these subscribers that want to cancel in a year cite affordability reasons, but in many cases, it is because the subscription provider increases their prices.
30% of U.S. Consumers also have a subscription to a gaming service, and it is up from 21% since 2017.
There are also 200 different child subcription services and many other niches subscription models are creeping in to.
Netflix is the main pioneer of the subscription service, but with there being so many opportunities found by subscription entrepreneurs, there are even shaver subscriptions, nail subscriptions, and comic subscriptions.