Recurly Research: Subscription Trends and Benchmarks That Provide Insights for Your Business

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Recurly Research

Most business decisions are driven by data. With a wide range of customers in multiple industries using Recurly, we have enviable visibility into comprehensive subscription data within our platform which gives us a unique perspective. Using this data—which we’ve aggregated and anonymized—we’ve compiled a variety of reports which provide meaningful, actionable insights which you can apply to your subscription business.

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Automated Fraud Protection Helps Merchants Facing Rising Fraud

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Fraud fraud management

According to CardNotPresent:

“Merchants will lose more than $70 billion globally to card-not-present fraud in the next five years, but many still think fraud prevention is too costly, according to a new report. U.K.-based consultancy Juniper Research found that the ongoing migration to EMV technology in the U.S., a slower-than-expected rollout of 3D Secure 2.0, and a significant vulnerability via click-and-collect fraud are all factors that will drive CNP fraud losses in the next half decade.”

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Music Industry + Streaming Services = So Happy Together

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Streaming Media subscription trends

Here in the Bay Area, we’re celebrating the 50th anniversary of the Summer of Love. Numerous events are taking place, and nearly all involve music. Jefferson Airplane and the Grateful Dead covers are particularly popular.

This music harkens back to a time when the music industry and its partner, FM radio, held significant sway, ruling the airwaves and determining—based on which bands the major labels signed and what songs got regular airplay—what people listened to.

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How a Great Dane Gets Credit for the Creation of a $100 Million Subscription Box Business

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industry voices

BarkBox is an early success story in the tumultuous, competitive, and ever-changing realm of subscription boxes. Now a company with $100 million in annual revenue, the story of their founding is decidedly unique and charming. Not only did the company’s founder seize upon an idea that turned out to have incredible and wholly unexpected market potential, the company has been able to continually build upon their initial success and remain vibrant and competitive as the market has evolved. They’ve done this through a commitment to both meeting the needs of their customers and to providing truly joyful experiences to dog and owner alike. As a result of their continual innovation, BarkBox has created an enviable community of steadfast customers, loyal fans, and of coure, happy canines.

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Reducing Friction Supports Customer and Revenue Growth

Isaac Newton’s first law of motion famously states that an object in motion will stay in motion. Similarly, you can think of the subscription model like a force that is always in motion, sustained by the subscriber lifecycle and recurring revenue. At critical points during the subscriber lifecycle, businesses are reliant on these elements to keep their business moving forward.

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Super-Serving Customer Needs

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millennials subscription trends

Millennials are a unique demographic. Generally defined as being born between the early 1980’s and the late 1990’s, there's no lack of commentary around this generation, which is the largest in U.S. history (they’re essentially the children of the Baby Boomers—the ‘Me Generation’). Time Magazine memorably dubbed them the ‘Me Me Me Generation’ for being both confident and assertive (among other traits).

As a cohort, millennials in the U.S. number 80 million. Cumulatively, they add 600 billion of their hard-earned dollars to the economy every year, which is a full 28% of all daily, per-person consumer spending. By 2030, this number is forecasted to rise to 35%, according to a recent article in Forbes.

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Recurly + Xero Integration for Improved Accuracy and Compliance

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Integrations Xero

Any business that seeks to grow rapidly needs to have the right tools in place to support that growth. Subscription businesses in particular need an accounting solution that can handle the complexities of reporting on recurring revenue, one that can help speed their month-end close by automating key processes, creating efficiencies, and reducing errors from having to utilize manual processes.

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Key Metrics for Subscription Commerce: Defining Our Terms

We’ve all heard the phrase, “You can’t manage what you don’t measure,” and here at Recurly we do a lot to support our customers’ ability to track and measure the progress of their subscription commerce initiatives. We launched Recurly Analytics last year to provide even better reporting and the key analytic insights that our customers can use to optimize their business. And we’re continually working to add new reports to this feature set. Look for a blog at the end of the month for more on this!

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How to Leverage Your Existing Subscribers to Acquire More

In our previous post in this series, we talked about using data to identify your most profitable subscribers and the metrics to measure campaign and channel profitability. In this post, we’ll focus on how you can leverage your existing subscribers to acquire more.  

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Recurly’s Account Updater Service Increases Revenue, Reduces Churn

What do you think caused 5.5 million people in Britain to cancel their credit cards last year? If you guessed fraud, you’d be right. Those 5.5 million people comprise a full 12% of the population—one million higher than last year and evidence that cybercrime has gotten worse in that country and people are taking action to protect themselves.

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