Why are Subscription Based Mobile Apps Booming in 2022?
If you are using a smartphone, you definitely have multiple subscription based mobile apps downloaded on it. isn’t it? Still confused? The app you use to watch your favourite web series, for instance, Netflix, Amazon Prime etc all such apps fall under the category of subscription based apps. Core Techies a, top mobile app development company in the USA will highlight reasons why subscription based apps are booming in 2022.
Apart from the streaming apps we also use fitness, health to dating apps that are based on a subscription-based model According to one of the reports subscription app market reached 6 billion between Jan 2021 t0 March 2022. Hence, the top 100 subscription apps worldwide earned $ 18,3 billion in revenue in 2021.
Why Subscription Based Apps are Getting Popular? Explore
Gone are the days when we have a few mobile apps offering subscription models to get access. I can only think of newspapers or magazines that offered such a model. But in the present scenario, the list of subscription based mobile apps is getting long. We can avail of premium features by simply taking subscribing to an app. Here are the reasons why subscription based apps are getting popular. Find out
#1. Nominal Prices:
Subscription-based mobile apps are getting popular because people have to pay a nominal account fee to get access to the premium version of the app instantly. However, when you binge-watch your favourite movies you often prefer ad-free apps to avoid any kind of interruption. Therefore, subscription based mobile applications allow users to watch movies ad-free once they subscribe to the app.
#2. Convenience:
Post-Pandemic, we think twice before we move out of our homes. Subscription based apps are allowing users to avoid moving out to even buy essential things, Therefore, people are using apps that allow them to subscribe and get things delivered to their doorstep every month. This is amazing!
#3 Predictable Revenue:
The subscription-based business model allows you to have a predictable revenue every month. The recurring payment mode to get access to premium features. Hence, you can predict the revenues and plan the campaigns.
Wrapping Up: Retention is key in the Subscription based Mobile App
The subscription-based business model aims to retain customers by giving them reasons to stay on the app. Therefore, the subscription focuses more on retention than acquisition Moreover, the subscription model enhances the chances to rank higher on the App Store. If you want a stable income and an increased engagement rate. The subscription based mobile apps are your go-to solution.
What are you waiting for? Get in touch with our team and discuss your mobile app idea.
