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.
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:
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:
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.
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.