Publisher growth tactics for election season | WEBINAR

Learn More

SODP

SODP Media

  • Insights
    • Articles
      • Audience Development
      • Content Strategy
      • Digital Publishing
      • Monetization
      • SEO
      • Digital Platforms & Tools
    • Top Tools & Reviews
    • Opinion
    • Podcast
  • Education
    • Publisher SEO Course
    • Events
      • Monetization Week 2025
  • Resources
  • Community
    • Slack Channel
    • Newsletter
  • About
    • About Us
    • Contact Us
    • Editorial Policy
  • English
sodp logo
SODP logo
    Search
    Close this search box.
    Login
    • Insights
      • Podcast
      • Articles
        • Audience Development
        • Content Strategy
        • Digital Publishing
        • Monetization
        • SEO
        • Digital Platforms & Tools
      • Top Tools & Reviews
        • Articles
        • Top Tools & Reviews
        • Opinion
        • Podcasts
        • Audience Development
        • Content Strategy
        • Digital Publishing
        • Monetization
        • SEO
        • Digital Platforms & Tools
        • Headless CMS Platforms
        • Digital Publishing Platforms
        • Editorial Calendar Software
        • Magazine Apps
        • Email Newsletter Platforms
        • More Best Tools Lists
    • Education
      • Publisher SEO Course
        • Publisher SEO Course
        • Events
        • Managing Millions
        • View all
    • Resources
    • Community
      • Slack Channel
      • Office Hours
      • Newsletter
        • Slack Channel
        • Newsletter
    • About
      • About Us
      • Contact Us
      • Editorial Policy
        • About Us
        • Contact Us
        • Editorial Policy
    placeholder
    SODP logo
    Become a Brand Partner
    Home ▸ Digital Publishing ▸ Editor’s Note: The State of the Subscription Economy

    Editor’s Note: The State of the Subscription Economy

    • Andrew Kemp Andrew Kemp
    March 9, 2023
    Fact checked by Vahe Arabian
    Vahe Arabian
    Vahe Arabian

    Founder and Editor in Chief of State of Digital Publishing. My vision is to provide digital publishing and media professionals a platform to collaborate and promote their efforts, my passion is to uncover talent and… Read more

    Edited by Andrew Kemp
    Andrew Kemp
    Andrew Kemp

    Andrew joined the State of Digital Publishing team in 2021, bringing with him more than a decade and a half of editorial experience in B2B publishing. His career has spanned the technology, natural resources, financ…Read more

    newsletter subscribe

    Receive analysis, tips, and insights from SODP editors directly in your mailbox.

    For months I’ve considered canceling my Netflix subscription, struggling to justify its value proposition. While I might not be interested in the platform’s steady stream of reality shows, the sheer size of its catalog continues to win me over. There’s always something to watch even when “there’s nothing to watch”.

    This feels like a hangover of the COVID era, when consumption of digital content soared and the streaming services, digital publishers and social media platforms all cashed in. Easy access to content was of paramount importance to consumers with little else to spend their time and money on.

    With the world firmly in the post-pandemic phase, I’ve begun to wonder whether a slump in the subscription economy is coming; especially considering central banks’ predilection for interest rate hikes as a means of quashing inflation.

    And yet, that doesn’t seem to be the case, according to FIPP and Piano’s Snapshot Global Digital Subscription Q4 2022 report 

    Robust Numbers

    It turns out that the 140 publishing titles that participated grew their digital-only subscriber count by 3.64% in the quarter to 42.1 million. Highlights include Substack boosting its subscriber count by 50% to 1.5 million and Argentine daily Clarín’s subscriptions climbing nearly 45% to  600,000.

    With plenty of signs of strong growth, the report endorsed projections from FIPP’s sister body INMA that publisher subscription numbers would continue growing this year.

    INMA expects digital subscriptions to climb by 52% in July-September 2023, compared with the first quarter of 2021. Digital subscription revenue, meanwhile, will expand 47% over the same period. INMA has, however, cautioned that the increase in cancellations observed in 2022 may continue.

    Minimizing subscriber churn has always been a concern for publishers, but now it seems that the subscription economy has entered the retention phase.

    Retention Phase

    Consumers are increasingly aware of their subscription bills, according to a report by FT Strategies and Minna Technologies, which found that 93% of those surveyed claimed a greater awareness of the amount they spend on subscription services, up from 86% a year earlier.

    The cost-of-living crisis and growing concerns over the global economic outlook have made consumers more financially conscious. Indeed, the survey of UK and US consumers found that 75% of subscribers were interested in having one app to manage all their subscriptions. In fact, 50% consumers aged 18 to 44 would consider switching bank accounts to have access to in-app subscription management. A sentiment echoed by a third of all age groups

    A centralized subscription management would certainly make it easier for consumers to axe services they didn’t feel added value. While this seems like a somewhat redundant observation, I still felt it was worth making considering the next survey.

    Wake Up Call

    A C+R Research survey of US consumers found the overwhelming majority underestimated how much they were spending on monthly subscriptions. Almost a third underestimated their monthly costs by $100-199, while nearly 25% underestimated by $200 or more. 

    This survey casts a new light on the above figure of 93%, suggesting that while consumers think they’re aware of their subscription spending, there is a gap between perception and reality. If financial pressures continue to mount that gap is likely to narrow.

    Content from our partners

    build ad network guide

    How to Build Your Own Ad Network: A Step-by-Step Guide

    AI, the double-edged sword of creativity, and why publishers must embrace it

    AI, The Double-edged Sword of Creativity, and Why Publishers Must Embrace It

    Why Online Publishers Need a VPN: Protecting Data, Sources, and Revenue

    Why Online Publishers Need a VPN: Protecting Data, Sources, and Revenue

    And it’s here that I think it wise to acknowledge the growing doubt over whether interest rate hikes will work in slaying the inflation monster. There are several global economic factors at play that suggest that we could be in for a prolonged period of inflation, as nicely highlighted by the ABC’s Ian Verrender this week. 

    If central banks are mistaken in believing that higher interest rates are the silver bullet to inflation, it would mean both a decline in real wages and a pressing need for households to become more frugal.

    With this in mind, now is not the time for publishers to become complacent over their subscription offerings. Great value propositions now could save a lot of headaches further down the line.

    Related Posts

    • Editor's Note Journalism’s Passion Pay Problem
      Editor's Note: Journalism’s Passion Pay Problem
    • Balancing Audience Building and Monetization
      Editor's Note: Balancing Audience Building and Monetization
    • Editor's Note More Publishers Need Games in their Subscription Strategies
      Editor's Note: More Publishers Need Games in their Subscription Strategies
    • Rethinking Print Media’s Role in the Digital Era
      Editor's Note: Rethinking Print Media’s Role in the Digital Era
    SODP logo

    State of Digital Publishing is creating a new publication and community for digital media and publishing professionals, in new media and technology.

    • Top tools
    • SEO for publishers
    • Privacy policy
    • Editorial policy
    • Sitemap
    • Search by company
    Facebook X-twitter Slack Linkedin

    STATE OF DIGITAL PUBLISHING – COPYRIGHT 2025

    GPP logo

    Managing Millions

    Better audience engagement without the tech headaches

    How to avoid the Goldilocks Tech Trap which wreaks havoc on giving audiences what they want

    11 June 2025

    2 PM BST

    Online Event

    Learn More