Goodbye, Ownership. Hello, Usership.
When you hear the words ‘subscription economy’ you know exactly what to think: usership, flexibility, 24/7 access, and the room to grow a service to match the desires of people everywhere.
Inflation, market volatility and fear of a downturn have many people understandably spooked. Recently, the analysts have turned their eye on the Subscription Economy. Headlines like, “Is the ‘subscription economy’ going to feel the Netflix effect?” and “The Great Unsubscribe,” are stirring both discussions and suspicions about the future of subscriptions.
Over a decade ago, the newspaper industry as we know it was on its last legs. Circulation for nearly half of the daily papers in America were dropping by 2-3 percent a year ever since their peak in 1984. It got worse in 2010, when it had been reported that newspaper circulation fell nearly nine percent. Nearly every publication was scaling back, laying off journalists. People feared the disappearance of the fourth estate and the implications this had on democracy itself.
Subscriptions have seeped into nearly every consumer industry, from television to online streaming services. There are even services that help subscribers cancel all their subscriptions. But one industry has notably lagged: travel.