Are you looking to add Subscription Management 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 Management statistics of 2024.
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How much of an impact will Subscription Management have on your day-to-day? or the day-to-day of your business? Should you invest in Subscription Management? We will answer all your Subscription Management related questions here.
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On this page, you’ll learn about the following:
Best Subscription Management Statistics
☰ Use “CTRL+F” to quickly find statistics. There are total 76 Subscription Management Statistics on this page 🙂Subscription Management 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 subscription industry is a market estimated to be worth over $240 billion globally by 2024. [1]
- The subscription e commerce market has grown by more than 100 percent a year over the past five years. [2]
- According to forecasts, Etsy’s revenue is projected to grow at a 67 percent CAGR between 2019 and 2021, making it one of the fastest growing online marketplaces worldwide. [3]
Subscription Management Software Statistics
- By 2024, 53% of all software revenue will be generated from a subscription model. [1]
Subscription Management 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 Management 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]
- The projected percent change in employment from 2020 to 2030. [4]
- The average growth rate for all occupations is 8 percent. [4]
- The percent change of employment for each occupation from 2020 to 2030. [4]
- One area that was impacted was the subscription economy, with 22.5% of companies that offer subscription services seeing their membership rates accelerate over the past year as the entire world shifted even further into the virtual realm. [1]
- The subscription economy has grown more than 435% in the last 9 years If you’re doing the math, that ends up being nearly 6x growth in less than a decade. [1]
- 78% of international adults currently have subscription services. [1]
- This number is up from 71% in 2018. [1]
- 75% of respondents believe that in the future, people will subscribe to more services and own less physical “stuff”. [1]
- 64% of respondents say that they feel more connected to companies with whom they have a direct subscription experience versus companies whose products they simply purchase as one. [1]
- 70% of business leaders say subscription business models will be key to their prospects in the years ahead. [1]
- But hey, it doesn’t hurt to know that if you do decide to incorporate a subscription model you will be in the good company of 70% of business leaders. [1]
- 28% of subscribers said that a personalized experience was the most important reason for continuing to subscribe. [1]
- After all, 80% of consumers are more likely to make a purchase from a brand that provides personalized experiences 9. [1]
- In the U.S, 42% of men and 28% of women have 3 or more subscriptions. [1]
- 100% of the Subscription Administration happens onMy IBM Products and Services. [5]
- 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. [6]
- Our research shows that 15 percent of online shoppers have signed up for one or more subscriptions to receive products on a recurring basis, frequently through monthly boxes. [2]
- Although streamingmedia subscriptions have been popular for some time 46 percent of consumers in our survey subscribed to an online streaming media service, such as Netflix shoppers are now also turning to subscriptions for consumer goods. [2]
- Our research indicates that 15 percent of online shoppers have subscribed to an e commerce service over the past year. [2]
- Compared with the general US population, they are more likely to be 25 to 44 years old, to have incomes from $50,000 to $100,000, and to live in urban environments in the Northeastern United States. [2]
- These subscriptions particularly appeal to women, who account for 60 percent of them. [2]
- The median number of subscriptions an active subscriber holds is two, but nearly 35 percent have three or more. [2]
- Male shoppers are more likely than women to have three or more active subscriptions 42 percent versus 28 percent, respectively suggesting that men particularly value automated purchasing and the ability to limit store trips. [2]
- Curation services, with 55 percent of total subscriptions, are by far the most popular, suggesting a strong desire for personalized services. [2]
- Replenishment accounts for 32 percent of subscriptions and access subscriptions for 13 percent. [2]
- For replenishment subscribers, convenience was the most important consideration, though value for the money and personalized experiences were also important. [2]
- On the acquisition side, only 53 percent of consumers know about even one of the top services. [2]
- Moreover, conversion is weak only 55 percent of those who consider a service ultimately subscribe, probably because people are reluctant to sign up for a long. [2]
- Replenishment services have a higher conversion rate than curation or access services. [2]
- Overall, we found that nearly 40 percent of e commerce subscribers have canceled their subscriptions. [2]
- The meal kit category seems to have particularly high rates of cancellation within the first six months , probably reflecting highly competitive prices and broad similarities among the leading players. [2]
- Replenishment services have particularly high long term subscription rates 45 percent of members have subscribed for at least one year, about ten percentage points higher than the level for curation or access services. [2]
- The day after the announcement, the company’s stock price plunged by over 35 percent, marking the largest single day drop ever in percentage terms. [3]
- In April 2024, an online survey in the United States found that 17 percent of respondents said they had a very favorable impression of tech billionaire Elon Musk, whilst a quarter of respondents reported having a somewhat favorable impression of him. [3]
- Overall, 11 percent had a very unfavorable view of Musk, and 14 percent had never heard of him. [3]
- According to the source, approximately 614 thousand Ukrainians left for Russia. [3]
- In 2021, Etsy, an e commerce website company specialized in craft and vintage items, generated revenues worth 2.3 billion U.S. dollars, up by roughly 35 percent from the previous year. [3]
- New light vehicles were about 8.8 percent more expensive in 2021 than in 2020. [3]
- Among National Account Managers, 29.3% of them are women compared to 70.7% which are men. [7]
- Job Title Male Female Catering Sales Manager 19% 81% Director Of Admissions And Marketing. [7]
- 20% 80% Media Traffic Manager 20% 80% National Account Manager 71% 29% Director Of Sales Engineering 93% 7% Route Sales Manager 94% 6% Sales Superintendent 95% 5%. [7]
- The most common ethnicity among National Account Managers is White, which makes up 82.7% of all National Account Managers. [7]
- Comparatively, there are 8.1% of the Hispanic or Latino ethnicity and 3.9% of the Asian ethnicity. [7]
- White, 82.7% Hispanic or Latino, 8.1% Asian, 3.9% Black or African American, 3.5% Unknown, 1.6% American Indian and Alaska Native, 0.2% National Account Manager Race Percentages. [7]
- Interestingly enough, the average age of National Account Managers is 40+ years old, which represents 70% of the population. [7]
- 81% of National Account Managers earn that degree. [7]
- A close second is Master’s Degree with 8% and rounding it off. [7]
- Bachelors, 81% Masters, 8% Associate, 7% High School Diploma, 1%. [7]
- Other Degrees, 3% National Account Manager Degree Percentages National Account Manager Wage Gap By Education. [7]
- By looking over 18,168 National Account Managers resumes, we figured out that the average National Account Manager enjoys staying at their job for 1 2 years for a percentage of 39%. [7]
- 4,945 Profession Percentages of LGBT Job Openings. [7]
- The most common foreign language among National Account Managers is Spanish at 50.2%. [7]
- The secondmost popular foreign language spoken is French at 10.8% and Carrier is the third most popular at 6.0%. [7]
- Spanish, 50.2% French, 10.8% Carrier, 6.0% Italian, 5.4% Portuguese, 4.2% Other, 23.4% Foreign Language Percentages. [7]
- Over the past couple years there has been a 300% growth in subscriptions for digital news and media. [8]
- User Experience above All 69% of Americans have multiple subscriptions and 27% plan to increase their number of subscriptions as soon as possible. [8]
- Note — Existing customers are up to 70% more likely to buy again. [8]
- 2021 will definitely be the year of rising fraud, whose yearon year growth rate is almost 25% — a natural consequence of changing consumer habits. [8]
- By 2024, 75% of all companies that sell direct to consumers will offer some type of subscription service. [8]
- Such companies see <20% lower churn rate. [8]
I know you want to use Subscription Management Software, thus we made this list of best Subscription Management Software. We also wrote about how to learn Subscription Management Software and how to install Subscription Management Software. Recently we wrote how to uninstall Subscription Management Software for newbie users. Don’t forgot to check latest Subscription Management statistics of 2024.
Reference
- fusebill – https://blog.fusebill.com/interesting-recent-statistics-on-the-subscription-business-model.
- wonderment – https://www.wonderment.com/blog/subscription-economy-stats.
- mckinsey – https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/thinking-inside-the-subscription-box-new-research-on-ecommerce-consumers.
- statista – https://www.statista.com/.
- bls – https://www.bls.gov/ooh/management/sales-managers.htm.
- ibm – https://www.ibm.com/support/pages/faqs-spss-statistics-subscription.
- alliedmarketresearch – https://www.alliedmarketresearch.com/subscription-and-billing-management-market-A08462.
- zippia – https://www.zippia.com/national-account-manager-jobs/demographics/.
- medium – https://softclouds.medium.com/subscription-management-in-2021-beyond-f823428cf4b4.
How Useful is Subscription Management
This is where subscription management services come into play. These platforms allow users to monitor and track all their subscriptions in one place, providing a comprehensive overview of their recurring expenses and giving them the ability to easily manage and cancel subscriptions as needed. With the rise of subscription fatigue and the growing trend of subscription services automatically renewing without consumers’ explicit consent, the need for effective subscription management tools has never been more crucial.
One of the key benefits of subscription management is its ability to help consumers save money. By identifying redundancies and unused subscriptions, users can effectively streamline their expenses and cut costs. Additionally, subscription management services can alert users to price increases or changes in subscription terms, ensuring that they are always informed and in control of their financial commitments.
Beyond cost-saving benefits, subscription management can also help consumers simplify their lives and reduce mental clutter. Instead of juggling multiple subscription accounts and payment schedules, users can centralize all their subscriptions in one place, making it easier to track expenses and stay organized. This can lead to improved financial literacy and a better understanding of one’s spending habits, ultimately leading to more mindful and intentional consumption.
Furthermore, subscription management services can help protect consumers from hidden fees and recurring charges. With many subscription services employing sneaky tactics to entice users to sign up for “free trials” that automatically convert into paid subscriptions, subscription management tools can serve as a safeguard against unwanted charges by flagging upcoming renewal dates and alerting users of their impending payments.
In a time where personal finance management is becoming increasingly complex and overwhelming, subscription management offers a simple and effective solution to help consumers take control of their financial well-being. By providing transparency, organization, and cost-saving benefits, subscription management services empower users to make informed decisions about their subscriptions and take charge of their financial futures.
Ultimately, the utility of subscription management cannot be overstated in today’s subscription-driven economy. As more and more companies turn to subscription-based business models to monetize their products and services, consumers must arm themselves with the tools and resources necessary to navigate this new landscape. Subscription management is not just a convenience – it’s a critical tool that empowers consumers to make smarter choices, save money, and take control of their financial destinies.
In Conclusion
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