New Subscription Plans
Our new subscription plan is officially live. Here is how it works.
Consumers can subscribe monthly, quarterly and annually.
Monthly = $14.99
Quarterly = $39.99
Annually = $99.99
Why Annual Subscriptions Equal More Income for You
Here is the inside intel on subscription businesses. Consumers today prefer a heavily discounted annual subscription. They are over 30% more likely to subscribe for an annual subscription than a monthly.
For example, Headspace, one of the top meditation apps in the App Store keeps about 20% of their customers after 12 months who are on the monthly membership. Which means after a year, 2 out of 10 people will keep their subscription, 8 out of 10 will cancel.
With annual subscriptions, Headspace is able to keep close to 50% of their customers after 12 months. Which means after 12 months, 5 out of 10 will cancel, the other 5 will maintain their membership.
This is the key bit of information you need to know. The consumer gets a 44% discount on the annual compared to the monthly.
Annual comes out to $8.33 per month which is 20% less than the original $10 monthly price! That is a huge bargain. That said, focus on selling the annual with the following language.
“Sign up now for as low as $8.33 per month!”
“Sign up now and get a 44% discount from the monthly membership”
“Get started today with 44% discount”
In short, we did this so you can lock in your customer longer and make more money.
Encourage annual or quarterly subscriptions when promoting your channel and you will retain your clients for longer periods of time on Playbook!
What about the economics?
The percentage split is still the same. You get 70% of the net profit (after Apple’s 30%) or put another way, 50% of the full subscription price.
** The main change is the payment of future earnings. If someone subscribes for the annual, it is broken into 12 months and you are still paid monthly. Your annual subscription is put into “Future Cash Flows” in the analytics tab, so you can see exactly how much you will be making.
Monthly = $14.99 - 30% from Apple - 20% from PB = $7.50 per subscriber
Quarterly = $39.99 - 30% from Apple - 20% from PB = $20 per subscriber (paid monthly)
Annually = $99.99 - 30% from Apple - 20% from PB = $50 per subscriber (paid monthly)
Of course if you have any questions, please email us any time firstname.lastname@example.org