Urban Outfitters’ clothing rental service, Nuuly, has turned its first profit. The achievement of this milestone comes as a result of a growing subscriber base and an 86% increase in revenue, CNBC reported Tuesday (Nov. 21). Nuuly’s success in achieving profitability before its competitor, Rent...
Roblox is launching new in-game subscriptions in an effort to drive higher-margin purchases as, across the gaming industry, major players look for new ways to bring in recurring revenue. A staff member from the online gaming company announced to the platform’s developer forum on Wednesday (Nov. 15)...
In recent months, the momentum of retail product subscriptions has waned, as consumers grapple with headwinds from economic challenges and a rising cost of living. Yet, within this challenging landscape, a small group of subscribers, termed “loyalists,” has emerged as a crucial cohort for retail...
As Snapchat looks to grow adoption of its subscription program, the app is reportedly testing a “Friends & Family Plan,” as social media platforms look to find ways to monetize outside of ad sales. Code within the app spotted by Android Authority suggests that the social media app popular...
In an effort to get Generation Z consumers paying for its dating app, Bumble is rolling out subscription plans that are shorter-term and more personalized. On a call with analysts Tuesday (Nov. 7) discussing its third-quarter 2023 financial results, Whitney Wolfe Herd, the company’s founder and...
Once consumers start getting the VIP treatment with their retail subscriptions, PYMNTS Intelligence shows, many seek out more and more of this exclusive access. By the Numbers The PYMNTS Intelligence report “The Impact of Subscription Models on Consumer Choice,” created in collaboration with sticky.io, draws...
As streaming services raise their prices, card-linked offers can go a long way towards encouraging deal-seeking consumers to hit subscribe, PYMNTS Intelligence indicates. By the Numbers The PYMNTS Intelligence report “Leveraging Item-Level Receipt Data: How Card-Linked Offers Drive Customer Loyalty,” created in collaboration with Banyan, draws...
Most retail subscription products saw subscriber declines in the last year across demographic groups and subscription modalities, causing top providers to redouble efforts to regain customers. These are some of the conclusions drawn from the report “The Subscription Commerce Readiness Report: The Loyalty Factor,” a...
Universal Music Group (UMG) is seeing increased revenue from paid subscription platforms amid decreases from free, ad-supported streaming services, suggesting that consumers may increasingly be willing to pay a premium to skip the commercials. The music giant, whose artists include everyone from Taylor Swift to...
