How is technology helping subscription services boom?

How is technology helping subscription services boom?

How is technology helping subscription services boom?

If you love to be entertained in the modern digital age there is a chance that you are signed up to a subscription service. From a music streaming service to TV subscriptions, they are a big part of contemporary life for many. These kind of subscription services have really grown in recent times as they have become more sophisticated and increasingly popular.

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The available stats certainly back that up with Netflix having a huge 130 million subscribers worldwide now! When you consider that other services that use this subscription model also are showing rapid growth, it is clearly a sector on the up.

What areas of everyday life are affected?

Subscription services have grown to influence many parts of daily life in a positive way. Some of the major providers are detailed below:

  • Music – as already mentioned, music is one area where subscription services have really made an impact. From Spotify to Deezer and Apple Music, there are many ways to access individual artists and favorite tracks online. That ability gives you freedom in not only how you listen to music but also to discover new bands as your tastes change over time.
  • Books – of course, not all services of this nature are online. There are many that will deliver real books to your door to enjoy as well. One example of this is Book of the Month who will send you a new book or books to read regularly when you sign-up. There are also digital services available for Kindle users, and audiobooks can be downloaded onto devices.
  • Food – another offline subscription service that has really grown in recent years is food boxes. From Home Chef to HelloFresh, there are many that you can sign-up with. Once you have done so, they send you a box of tasty food and recipes each week to make sure you eat healthily with little preparation work.
  • Movies and TV – a big market in subscription services online is in the world of TV and movies. From Hulu to Netflix and beyond, many millions of people subscribe now to catch the latest TV box sets and films to watch at their leisure.

Why is the demand for these services growing?

Subscription services are not a new invention. Magazines and newspapers have used the same model for years to gain new readers and increase revenue. What is different now is the reason behind why they have become so popular. Most people do not want to physically own an item in the same way as they did previously. Rather than having a CD or book on a shelf, when you are with a subscription service you can enjoy whatever you like. The services provide more flexibility and access to different products and the latest updates.

Technology leads the way

The other major factor in the recent boom of subscription services is the development of technology. There is no doubt that the advances in technology and the easy access we all have to it has made them more popular. Here are some of the specific ways this has happened:

  • Convenience – subscription services offer unrivalled levels of convenience compared to traditional shopping methods. They can do this thanks to the technology with which they operate and that the public become used to using. Modern mobile and electronic devices are easy to use and require less effort and expense than going out to the shops or the cinema.

The lottery is a great example of that. Rather than having to remember to go out and buy a ticket, you can simply subscribe online to play. FreeLotto is a lottery company that can be accessed in this way – check out their FreeLotto Facebook page for more details on how it works.

  • Technological advances – modern subscription services rely on the massive leaps in technology that we have seen in recent times. From modern smartphones having the power to stream and store music to the internet allowing us to connect and sign-up for services online, the huge advances in modern technology have allowed subscription-based companies to flourish.
  • Faster – in the past, signing up for a subscription service was a long process that was completed via the post. Modern online technology has made the sign-up process so much easier.

The future looks bright for subscription boxes

Whether it is an online service you use or an offline one, the future for subscription-based business looks bright. With new sectors moving into the market, from cosmetics to clothing and gaming, it seems the public demand for this way of accessing entertainment and goods will remain high.

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