The Rise of Subscription Services

Описание: If you were around when the iPod was popular you probably remember using the iTunes Music Store to buy songs for ninety-nine cents each and then loading them onto your iPod for listening. But things have come a long way since then. Because today we use subscription services like Apple Music or Spotify to stream an unlimited number of songs from almost any device. And because streaming music is much more convenient and cost-efficient than buying music, streaming services have exploded in popularity. And when any market begins to grow, it attracts other companies who want a piece of the pie. So the subscription model started to be used for services other than streaming music.

Now I do want to mention that the subscription model is nothing new. I mean, World of Warcraft has been using it since its release in 2004. And if you think about it, traditional newspapers have been using the subscription model for decades. So while the concept is nothing new, it has become a rapidly growing industry, tripling in size each year since 2011.