Editor's take: Now more than ever, companies are migrating to subscription models for their services in what has proven to be a win-win proposition for everyone involved. Consumers get access to a premium service for a low price and can usually cancel whenever they’d like while businesses lock in a steady stream of revenue.
According to the latest research from Adjust, nearly 80 percent of the top 225 apps in the Google Play Store and 49 percent of the top 225 apps in the App Store utilize subscriptions. That’s impressive considering subscription-based apps account for less than one percent of all apps.
Breaking it down further, Adjust found that the average user spends just shy of $21 per month across four subscriptions. Unsurprisingly, those in the 25-34 age range spend the most on app subscriptions - $25.85 – while those 55 and older spend far less at around $13.97 on average per month.
Keep in mind that these are purely app subscriptions. Streaming and on-demand entertainment services like Netflix, Hulu, Disney+ and YouTube TV are a whole separate category.
There, survey respondents on average said they spend $33.58 per month.
Where do you fall on the subscription spectrum? I’ve got a music streaming subscription and a couple of video on-demand subs, so I’m probably pretty close to the average for my age group.
Masthead credit: Andrew Krasovitckii