Streaming Subscriptions Grow Seven-Fold In March

Streaming Subscriptions Grow Seven-Fold In March
B&T Magazine
By B&T Magazine



Social isolation has led to a sharp spike in video streaming around the world.

According to data from software company Zuora, OTT video streaming subscriptions grew 7x in the month of March compared to the previous 12 months.

At the same time, the annual subscription growth rate for sports services fell significantly as professional leagues around the world pressed pause.

“These are telling figures,” said Zuora VP and GM of APAC region Iman Ghodosi.

“As everyone around the world spends more time than ever before indoors and seeks different ways of collaborating with colleagues or spending their leisure time, many subscription services have proved essential.

“The numbers for video streaming are quite remarkable, but so are the growth rates for communications software provided as a service.”

The research looked not just at video subscriptions, but other consumer and business memberships.

Digital News & Media subscriptions grew 3x, as did E-Learning. Communication SaaS offerings, such as video conferencing or online collaboration tools, have seen a spike in subscription growth rate by 1.4x, according to Zuora.

Consumer memberships on the other hand, such as gyms, travel and clubs, fell to two-thirds of its growth rate compared with the previous 12 months.

Hospitality subscriptions also fell significantly.

Zuora’s data shows 53.3 per cent of companies have not seen a significant impact to subscriber acquisition rates and 22.5 per cent of companies are seeing their subscription growth rate accelerate.

According to Ghodosi, the flexibility of subscription models can prove attractive for consumers during these times.

“Even in the face of our uncertain economy, subscriptions are inherently more flexible, as they don’t have to rely on individual product sales to grow,” Ghodosi said.

“It’s interesting to note that overall, however, more than three quarters of subscriptions companies have seen acquisition rates either remain steady or grow. I think that’s a testament to the power of the relationship these companies have with their customers and the way they can quickly adapt to what may be radically changed needs during this period.”




Please login with linkedin to comment

subscriptions Zuora

Latest News

Sydney Comedy Festival: Taking The City & Social Media By Storm
  • Media

Sydney Comedy Festival: Taking The City & Social Media By Storm

Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]

Global Marketers Descend For AANA’s RESET For Growth
  • Advertising

Global Marketers Descend For AANA’s RESET For Growth

The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA  Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]