Netflix Was Testing a Yearly Subscription Model with Savings
Daniel Johnson — March 18, 2020 — Business
References: netflixinvestor & bgr
Netflix started testing a yearly subscription model which will offer consumers a greatly reduced price when compared to the current monthly fees. The yearly subscription model was tested in India, and it offered saving up to 50%, however, this number is dependent on the payment method. Six and three-month options were also available during the test, where savings were listed at 30% and 20%.
A yearly subscription model could be preferable to customers who plan to have the service over long periods of time, this is because it simplifies the billing process and offers savings. Additionally, it could benefit Netflix as it would have more stable revenue. This type of subscription model could be used in the future to help Netflix compete with other types of streaming services.
Image Credit: Netflix
A yearly subscription model could be preferable to customers who plan to have the service over long periods of time, this is because it simplifies the billing process and offers savings. Additionally, it could benefit Netflix as it would have more stable revenue. This type of subscription model could be used in the future to help Netflix compete with other types of streaming services.
Image Credit: Netflix
Trend Themes
1. Yearly Streaming Subscription - A yearly subscription model for streaming services can offer customers simplicity, savings, and more stable revenue.
2. Reduced Price Model - Offering greatly reduced prices through yearly subscriptions can attract and retain customers long-term.
3. Competitive Subscription Models - Testing out innovative subscription models can help streaming platforms like Netflix compete in a crowded market.
Industry Implications
1. Streaming Services - The streaming industry can benefit from exploring new subscription models like yearly pricing to attract and retain customers.
2. Payment Solutions - Payment providers could explore partnerships with streaming platforms to facilitate seamless and convenient yearly subscription options.
3. Entertainment Technology - The entertainment technology industry can develop new tools and features to support innovative subscription models in streaming services.
2.6
Score
Popularity
Activity
Freshness
