“Done right, subscription businesses can provide consumers with value, convenience, and personalized offerings while fostering stability and growth.”

– McKinsey [2023]

In the fiercely competitive subscription market, organisations are engaged in a relentless battle for market share. With new offerings emerging daily, investment in skilled personnel and innovation has become a non-negotiable to stay ahead of the competition. Especially given 51% of subscribers cite their main reason for not cancelling is to avoid missing out on its original content [Forbes, 2022].

However, 60% still rely on outdated homegrown systems as the backbone of their services [Forbes, 2022]. From inadequate payment processing capabilities to compliance issues and a lack of subscriber analytics, these systems may have served their purpose in the past but now they not only raise doubts about their ability to scale and meet the demands of today’s customers but also divert valuable engineering resources away from innovation.

The time to act is now. Organisations with the right technology at their disposal will not only retain their hard-earned consumers but also elevate their services to new heights, setting themselves apart as industry leaders. How will you leverage technology to create a frictionless streaming experience that retains and satisfies hard-earned consumers?