Subscription Billing Statistics 2024 – Everything You Need to Know

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Are you looking to add Subscription Billing to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Subscription Billing statistics of 2024.

My team and I scanned the entire web and collected all the most useful Subscription Billing stats on this page. You don’t need to check any other resource on the web for any Subscription Billing statistics. All are here only 🙂

How much of an impact will Subscription Billing have on your day-to-day? or the day-to-day of your business? Should you invest in Subscription Billing? We will answer all your Subscription Billing related questions here.

Please read the page carefully and don’t miss any word. 🙂

Best Subscription Billing Statistics

☰ Use “CTRL+F” to quickly find statistics. There are total 140 Subscription Billing Statistics on this page 🙂

Subscription Billing Market Statistics

  • The subscription and billing management market was valued at $3.8 billion in 2018 and is expected to reach $10.5 billion by 2025, according to Zion Market Research. [0]
  • The platform has increased its market share in the last year, up from 15% in the final quarter of 2019. [1]
  • Only Hulu (20%) and Netflix (34%). [1]

Subscription Billing Adoption Statistics

  • Additionally, 43% of publishers pointed to developing products that people will pay for as their biggest challenge to subscription model adoption. [0]
  • According to the results, music streaming service adoption saw an increase of 58% from last year. [0]
  • At close to 60%, adoption among Gen Z and millennial consumers is even higher. [0]

Subscription Billing Latest Statistics

  • “…46% of of consumers surveyed have stated that they would prefer buying a vehicle subscription service over buying [a vehicle] and if that holds true and consumers embrace the subscription model, this may be the start of something big.”. [0]
  • A report by Convergence Research Group estimates that the pay TV industry will see a 5% decline in subscribers this year. [0]
  • Replacing traditional TV subscriptions are video streaming subscription services, according to Deloitte’s 13th edition of their digital media trends survey. [0]
  • Additionally, 43% of U.S. consumers have both pay TV and streaming subscriptions. [0]
  • While many leaders saw the value of the subscription model, only 24% were currently implementing it, and a mere 7% were generating significant revenue via membership. [0]
  • Another quarter of businesses were trying out membership models but were not sure how they would evolve, and 22% saw potential but were unsure how to proceed. [0]
  • The report indicates that 23% of C suites—top senior officers in a company—and boards are incorporating such business models into their strategic planning. [0]
  • Additionally, 17% of C suites and boards are planning to launch a new or additional recurring revenue business in the near future. [0]
  • While almost 70% of customers claim it’s more difficult for a business to keep their loyalty, the Toms brand story keeps customers emotionally involved and coming back to make future purchases because of the ‘feel good’ result. [2]
  • According to one study, between 90 and 95% of customers simply aren’t loyal to one brand anymore. [2]
  • That report determined the top 8% of purchasers generate 40% of all purchases. [2]
  • And for every 1% of shoppers who become purchasers, overall revenue will increase by 10%. [2]
  • It’s critical to be able to use your metrics and reporting to determine the top 10% of your customer base because they’re essential to the health of your company. [2]
  • As a business, you should be prepared to address that issue immediately because 67% of churn can be avoided if the issue is resolved on the first encounter. [2]
  • If their frustration isn’t turned around, 32% of customers will complain, 29% will pass their experiences on to family and friends, and 47% will simply stop doing business with that brand and will take their money elsewhere; likely to a competitor. [2]
  • According to a Forrester report, 73% of adults say good online customer support needs to be readily available or else. [2]
  • In fact, if a customer can’t find a quick answer to their question when shopping online, 53% say they’ll abandon the purchase. [2]
  • ** 75% of patients are looking up the cost of medical procedures online. [3]
  • 62% of patients said knowing their outof pocket expenses in advance of service impacts the likelihood of pursuing care. [3]
  • 49% of patients said having clear information on expected outof pocket costs before receiving treatment impacts their decision to use a healthcare provider. [3]
  • A new TransUnion Healthcare analysis revealed that patients experienced an 11% increase in average outof pocket costs during 2017, rising from $1,630 in Q4 2016 to $1,813 in Q4 2017. [3]
  • The analysis also revealed that in 2017, on average, 49% of patient outofpocket costs per healthcare visit were below $500; 39% were $501 $1,000; and 12% were more than $1,000. [3]
  • Total hospital revenue attributable to patient financial responsibility after insurance increased 88 percent between 2012 and 2017 Source. [3]
  • 69% have a budget process that takes more than three months from initial rollout to board presentation (the process takes more than six months for 9% of these organizations). [3]
  • 41% use rolling forecasts to complement or to replace an annual budgeting process (31% have to plans to implement rolling forecasts). [3]
  • The administrative costs associated with billing and insurance related activities as estimated to be up to 25.2% for emergency department visits. [3]
  • Associated With Physician Billing and InsuranceRelated Activities at an Academic Health Care System Patient healthcare costs – including both deductibles and outof pocket maximum payments – have increased by almost 30% percent since 2015. [3]
  • 83% of Physician Practices under five practitioners said the slow payment of high deductible plan patients are their top collection challenge, followed by the difficulties that practice staff have at communicating patient payment accountability (81%). [3]
  • 16% have a deductible under $500 19% have a deductible between $500 and $999. [3]
  • 46% have a deductible between $1,000 and $2,999 6% have a deductible between $3,000 and $3,999 6% have a deductible that is $4,000 or higher. [3]
  • 3% have a deductible under $500. [3]
  • 11% have a deductible between $500 and $999. [3]
  • 29% have a deductible between $1,000 and $2,999. [3]
  • 26% have a deductible between $3,000 and $4,999. [3]
  • 23% have a deductible of $5,000 or higher. [3]
  • 68% of patients failed to fully pay off medical bill balances in 2016, up from 53 percent in 2015, and 49 percent in 2014. [3]
  • This number is expected to climb to 95% by 2020. [3]
  • 67% of Americans are either very worried or somewhat worried about unexpected medical bills (compared to 41% who are very or somewhat worried about paying their rent or mortgage). [3]
  • Consumers are demanding more from healthcare92% of consumers want to know payment responsibility prior to a provider visit74% of consumers are confused by Explanation of Benefits and. [3]
  • medical bills73% of providers report that it takes one month or longer to collect from patients. [3]
  • The Rise of Self Pay Accounts , The Association of Credit and Collection Professionals, Collector Magazine , February 2015 30% of the average healthcare bill now comes from the patient’s pocket. [3]
  • 74 percent of healthcare providers reported an increase in patient financial responsibility in 2015 90% of patients felt it was important to know their payment responsibility upfront. [3]
  • 2015 U.S. health care spending increased 4.6 percent to reach $3.6 trillion, or $11,172 per person in 2018. [3]
  • The growth in 2018 was faster than in 2017 when health care spending increased 4.2 percent. [3]
  • The faster growth in 2018 was associated with faster growth in the net cost of health insurance, which increased 13.2 percent following growth of 4.3 percent in 2017, due primarily to the reinstatement of the health insurance tax in 2018. [3]
  • The overall share of gross domestic product related to health care spending was 17.7 percent in 2018, down from 17.9 percent in 2017. [3]
  • The insured share of the population was 90.6 percent in 2018 and 90.8 percent in 2017, as the number of uninsured increased by 1 million to 30.7 million in 2018. [3]
  • 75% of patients say that understanding their outof pocket costs improves their ability to pay for healthcare. [3]
  • 62% reported being either sometimes or always surprised by outof. [3]
  • Medicaid DSH Payments Cover 51% of Uncompensated Care Costs, RevCycle Intelligence, August 6, 2019. [3]
  • The average single premium increased 4% and the average family premium increased 5% over the past year. [3]
  • Workers’ wages increased 3.4% and inflation increased 2%. [3]
  • U.S. hospitals provided $45.9 billion in uncompensated care in 2012, representing 6.1 percent of annual hospital expenses. [3]
  • In 2018, 30.4 million persons of all ages (9.4%). [3]
  • National Health Interview Survey Early Release Program, CDC PPOs continue to be the most common plan type, enrolling 44% of covered workers in 2019. [3]
  • Thirty percent of covered workers are enrolled in a high deductible plan with a savings option , 19% in an HMO, 7% in a POS plan, and 1% in a conventional plan. [3]
  • 2019 Employer Health Benefits Survey, Kaiser Family Foundation, September 25, 2019 28% of uninsured adults either delayed or did not receive care because of cost Source. [3]
  • Patients’ outof pocket costs averaged $1,109 for an outpatient visit in 2018, up 12% compared with $990 in 2017. [3]
  • 68% of Consumers Did Not Pay Patient Financial Responsibility, RevCycle Intelligence, June 27, 2017. [3]
  • 80 percent of patients say they would prefer to pay for their care online. [3]
  • The percentage of persons under age 65 with private health insurance enrolled in a high deductible health plan increased from 43.7% in 2017 to 45.8% in 2018. [3]
  • National Health Interview Survey Early Release Program, CDC 68% of hospital bills under $500 were not paid in full Source. [3]
  • In 2020, 32% of American workers had medical debt Source. [3]
  • 32% of American workers have medical debt—and over half have defaulted on it. [3]
  • A 2013 study found that 26% of bankruptcies were due to medical debt Source. [3]
  • 11% of people surveyed with medical debt in 2017 were 27 years old Source. [3]
  • An estimated 48 million people were paying off medical debt in 2012, up from 44 million in 2010 and 37 million in 2006. [3]
  • In 2012, 41 percent of adults reported that they had medical debt or trouble paying medical bills. [3]
  • Of those who reported difficulties paying medical bills or paying off medical debt, 42 percent said they received a lower credit rating as result of unpaid medical bills. [3]
  • In 2012, 43 percent of adults, or 80 million people, said they had skipped or delayed getting needed health care or filling prescriptions because of the cost. [3]
  • More than a quarter of adults with a chronic health condition said they had skipped doses or not filled a prescription for their health condition because of the cost. [3]
  • 62% of ablebodied adults enrolled in Medicaid are either working parttime or full. [3]
  • Understanding the Intersection of Medicaid, Work, and COVID 19 Medicaid spending grew 2.9% to $613.5 billion in 2019. [3]
  • Like your typical consumer of goods, over 92% of patients want to know outof. [3]
  • In fact, 74% of patients are confused by their medical bills. [3]
  • According to studies, patients prefer this 62% of patients said knowing their outof pocket expenses in advance of service impacts the likelihood of pursuing […]. [3]
  • According to 2018 data compiled by MedData, 83 percent of physician practices reported that their top collection challenge was slow payment along with […]. [3]
  • From the right hand side of the page, you can click on monthly or annual pricing, and the monthly prices within each of the five paid tiers change to display the 20% discount you’ll receive if you sign up for an annual contract. [4]
  • The pricing is still displayed monthly, but the prices change to reveal the discount (it also says “save 20% by paying annually” above the spot where you select annual or monthly plans). [4]
  • As mentioned above, the difference is in the discount, and while the annual subscriptions for the middle tiers are discounted 25%, the lowest and highest tiers are discounted less (20% and close to 17% respectively). [4]
  • The annual billing tab states you can “save up to 25%,”. [4]
  • For the record, we recommend discounting your annual subscriptions 15 20%, but it depends on your business and the price sensitivity of your customers. [4]
  • As per the survey, it is estimated that around 15% of shoppers online are enrolled in any of the subscription plans and receives products to on a recurring basis. [5]
  • Onequarter of rural hospitals are at high risk of closure, even though more than 80% of counties have reported positive cases of Covid. [6]
  • With the right models, practices like these can save 25% to 30% on health care costs , mostly by avoiding hospitalizations, and improve the lives and extend the independence of elderly patients. [6]
  • Second, it reduces the massive and unnecessary administrative burden that contributes to burnout rates among physicians of nearly 50% while adding little value to health care. [6]
  • Monthly subscription box spending in the U.S. Share of consumers likely to cancel their pay TV subscription in the U.S. Industry leaders Revenue of HelloFresh worldwide from 2013 to 2020. [7]
  • The median wage is the 50th percentile wage estimate 50 percent of workers earn less than the median and 50 percent of workers earn more than the median. [8]
  • In emergency rooms across the country, 18 percent of visits result in at least one surprise bill, but rates vary by state. [9]
  • Disney+ has an18%share of subscription video on demand subscriptions in the US. [1]
  • In the final quarter of 2020, Disney+ accounted for6%of. [1]
  • 89%of content on Disney+ is exclusive. [1]
  • Disney+ brings in an estimated $2.87 billion per year from the US subscriber base. [1]
  • That’s an increase of 47.39% since 2020 when US revenue stood at $1.94 billion. [1]
  • That’s a decrease of 27.52% since December 2019, when the average subscriber generated $5.56 per month. [1]
  • Average revenue per user December 2019 $5.56 March 2020 $5.63 June 2020 $4.62 October 2020 $4.52 January 2021 $4.03 78% of Disney+. [1]
  • Among monthly subscribers to the basic Disney+ package , 74% continue to pay for the service after 6 months. [1]
  • This is comparable with competitors Netflix also has a 74% retention rate, while Hulu retains 67% of customers after 6 months. [1]
  • The remaining 80% of new signups opt for monthly billing, at a price of $6.99. [1]
  • The share of subscribers going for annual billing has increased in recent months, up from 12% in October 2020. [1]
  • October 2020 88%, 12% November 2020 81%, 19% December 2020 80%, 20% January 2021 80%, 20%. [1]
  • Among top subscription video on demand providers in the US, Disney+ accounts for 6% of all streaming. [1]
  • That’s up from 5% in the previous quarter. [1]
  • Disney+ claimed 13% of all new subscription video on demand signups in January 2021. [1]
  • In the previous month, the platform accounted for 19% of total SVOD signups. [1]
  • 27% August 2020 13% September 2020 13% October 2020 13% November 2020. [1]
  • 16% December 2020 19% January 2021 13% Disney+ accounts for 18% of US subscriptions to video on demand services. [1]
  • 17% Q3 2020 17% Q4 2020 18%. [1]
  • In 2020, Disney+ claimed 32% of all net subscriber additions among major subscription video streaming platforms. [1]
  • HBO Max contributed the next most net subscriber additions, accounting for 22% of total net additions. [1]
  • A February 2021 survey by Morning Consult found that male subscribers make up 52% of the Disney+ customer base in the US. [1]
  • The remaining 48% of subscribers are female. [1]
  • subscribers in October 2020, 57% were female. [1]
  • Combined, Millennials and Generation Z make up 64% of Disney+. [1]
  • Generation X 23% Baby boomers 13%. [1]
  • viewers who signed up for the service during October 2020, 64% were 35 or older. [1]
  • Age group Share 1826 16% 2634 20% 35 50 32% 50+ 32% Sources. [1]
  • users is suburban communities, accounting for 42% of subscribers. [1]
  • People living in urban and suburban areas make up a combined 80% of Disney+. [1]
  • Black 8% Asian, other race or ethnicity. [1]
  • Less than $50,000 43% $50,000 – $100,000 34% More than $100,000 23% 35% of American Disney+. [1]
  • The average across all streaming services is 32%. [1]
  • There are 1254 movies on Disney+, accounting for 62.33% of the total catalog. [1]
  • The remaining 758 titles (37.67%). [1]
  • 89% of content on Disney+ is exclusive. [1]
  • For comparison, the Netflix library is made up of 83% exclusive content. [1]
  • 72% of HBO Max content is exclusive. [1]
  • Disney+ claims a 15% share of all original TV shows among subscription video on demand services. [1]
  • Its share has nearly doubled in the last year, up from 8% in January 2020. [1]
  • 70% of downloads came from the Google Play store, while the remaining 30% were from the App Store. [1]
  • We found that 65% of sites experienced decreases in their overall churn rate compared to the previous year. [10]
  • Reductions in involuntary churn were the primary reason for overall churn rate decreases in 78% of those sites. [10]
  • Increases in voluntary churn were the primary reason for growth in the overall churn rate for the other 35% of sites in this update. [10]
  • Study uses median, 25th, and 75th percentile values which eliminate outliers and provide a more accurate representation of the data. [10]

I know you want to use Subscription Billing Software, thus we made this list of best Subscription Billing Software. We also wrote about how to learn Subscription Billing Software and how to install Subscription Billing Software. Recently we wrote how to uninstall Subscription Billing Software for newbie users. Don’t forgot to check latest Subscription Billing statistics of 2024.

Reference

  1. fusebill – https://blog.fusebill.com/interesting-recent-statistics-on-the-subscription-business-model.
  2. backlinko – https://backlinko.com/disney-users.
  3. fusebill – https://blog.fusebill.com/brand-loyalty-is-vital-to-subscription-billing-business-growth.
  4. meddata – https://www.meddata.com/blog/2017/10/26/medical-billing-statistics/.
  5. priceintelligently – https://www.priceintelligently.com/blog/bid/194370/boosting-mrr-annual-vs-monthly-subscriptions-in-your-saas-pricing-strategy.
  6. alliedmarketresearch – https://www.alliedmarketresearch.com/subscription-and-billing-management-market-A08462.
  7. statnews – https://www.statnews.com/2020/06/12/fee-for-service-is-a-terrible-way-to-pay-for-health-care-try-a-subscription-model-instead/.
  8. statista – https://www.statista.com/markets/423/topic/2519/subscriptions-direct-selling/.
  9. bls – https://www.bls.gov/oes/current/oes433021.htm.
  10. kff – https://www.kff.org/infographic/visualizing-health-policy-us-statistics-on-surprise-medical-billing/.
  11. recurly – https://recurly.com/research/churn-rate-benchmarks/.

How Useful is Subscription Billing

One of the major reasons why subscription billing has gained traction is the predictability it provides for businesses. By knowing that they have a reliable stream of revenue coming in on a regular basis, companies can better plan for the future and allocate resources accordingly. This can lead to increased stability and growth for businesses, as they can focus on improving their offerings rather than worrying about fluctuations in revenue.

For consumers, subscription billing also has its benefits. Multiple services now offer a subscription model that grants access to a wide range of products or content for a fixed monthly fee. This can be more cost-effective for customers, as they are able to access a variety of offerings for a fraction of the cost of purchasing each item individually. Additionally, subscription billing often comes with added conveniences like automatic renewal and payment options, making it easier for consumers to manage their subscriptions.

However, there are also drawbacks to subscription billing that both companies and consumers should be mindful of. For businesses, relying solely on subscription revenue can make them vulnerable to customer churn. If customers are dissatisfied with the product or service, they may decide to cancel their subscription, leading to a loss of revenue. This puts pressure on companies to continuously deliver value and engage with customers in order to retain their subscriptions.

On the consumer side, subscription fatigue has become a growing concern. As more companies adopt the subscription billing model, customers may find themselves overwhelmed by the sheer number of subscriptions they have signed up for. This can lead to subscription fatigue, where customers feel burdened by the number of recurring charges on their accounts and may choose to cancel subscriptions in order to simplify their financial commitments.

Another potential downside of subscription billing is the issue of hidden fees or unclear pricing structures. Some companies may use deceptive tactics to lure customers into signing up for a subscription, only to surprise them with additional charges or fees down the line. This can erode trust between businesses and consumers, leading to negative feedback and reputational damage for companies.

In conclusion, subscription billing can be a useful tool for both companies and consumers, offering benefits like revenue predictability and cost-effective access to products or services. However, it also comes with potential pitfalls such as customer churn, subscription fatigue, and hidden fees. Companies must tread carefully when implementing subscription billing models, ensuring transparency and value for their customers in order to maintain long-term success. Similarly, consumers should be cautious when signing up for subscriptions, being aware of their financial commitments and monitoring their subscriptions to avoid unnecessary charges.

In Conclusion

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