North America Subscriptions and Recurring Payments Market 2021 code:

North America Subscriptions and Recurring Payments Market 2021
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Canada, USA
Pages: 56
Publication Date: 21/09/2021
Download Free Sample
Questions Covered in the report:
  • How did the COVID-19 pandemic affect consumer spending on the top 100 subscription applications globally and in the United States?
  • What are the top reasons to cancel subscriptions for global consumers in 2021?
  • What are the top features provided by subscription merchants in the United States in 2021?
  • Which payment processor ranked first among others that offer recurring payments in the United States?
  • What is the share of respondents who has subscriptions for physical goods in Canada in 2021?

Key Findings:

Subscriptions and recurring payments are here to stay post-COVID-19: new yStats.com report.

Consumers worldwide are increasingly opting for subscriptions

During the onset of the pandemic, consumers worldwide realized the benefits of the subscription purchasing methods, and according to a 2021 survey of over 1,500 respondents across the globe, almost two-fifth of them acquired new ones to be able to better cope with the pandemic and restrictions. Consumer spending on various subscriptions increased globally by more than 30% in 2020 compared to the previous year, and in the United States by over 25%. Among the subscription categories, various entertainment services and online news services ranked first in 2021. They were followed by downloadable software, and varied education and cloud-based services, as detailed in the new yStats.com publication.

Businesses willing to implement subscriptions have to pay special attention to certain metrics

There are several E-Commerce business models available for firms that desire to offer subscriptions to their customers. A so-called “Subscription Box” is one of the most used to date, however, there are some others that certain businesses may find much more beneficial, according to the new report by yStats.com. Moreover, subscription businesses must pay attention to specific metrics to succeed on the market, and this applies regardless of the region where the enterprise operates. These include, for example, customer lifetime value – one of the most important metrics for companies that offer subscriptions. If applied correctly, the metrics provide major benefits for businesses. For instance, improved revenue predictability, which allows companies better and more efficient future planning.

Subscriptions increased in the United States during COVID-19 and growth is likely to continue post- pandemic

In the United States, over half of the total music industry revenue in the year, 2020 was brought in by subscriptions such as Spotify and Amazon Music. Furthermore, with market revenue growing by about a quarter between 2019 and 2020, the market share is unlikely to decrease in the post-pandemic times. During the last year, the market growth rate was especially pronounced in the sector of consumer retail products and digital media. Moreover, to secure a superior customer experience, research included in the new yStats.com report suggests that companies offering subscription services need to collaborate with payment service providers that have recurring payment services in their portfolio. According to the recent evaluation of such PSPs operating in the United States, Square ranked first, followed by PayPal and QuickBooks Payment, as detailed in the new yStats.com publication.

Read More Download Free Sample

1.Management Summary

2.Global Developments

  • Subscription Market Sales, in USD billion, and Year-on-Year Change, in %, 2020 – 2025f
  • Consumer Spending in Top 100 Subscription Applications, by App Store and Google Play Store, in USD billion, 2019 & 2020
  • Key Metrics for a Subscription Business, October 2020
  • Key Benefits of a Subscription Business, October 2020
  • Top E-Commerce Subscriptions Business Models, November 2020
  • Top Purchased Subscription Categories, in % of Respondents, May 2021
  • Frequency of Adding a New or Renewing Existing Subscriptions, in % of Respondents, May 2021
  • Top Purchased Subscription Categories, in % of Respondents, May 2021
  • Top Factors When Choosing a Subscription, in % of Respondents, May 2021
  • Preferred Payment Methods for Subscription Contracts, in % of Respondents, May 2021
  • Share of Respondents Who Prefer Automatic and Manual Subscription Renewals, in %, May 2021
  • Breakdown of Preferred Pricing Models, in % of Respondents, May 2021
  • Top Reasons to Cancel Subscriptions, in % of Respondents, May 2021
  • Annualized Subscription Economy Revenue Growth Compared to the S&P 500 Revenue Growth, in %, Q4 2019 – Q4 2020
  • Annualized Subscription Economy Average Revenue Per Account Growth Rate, in %, Q4 2019 – Q4 2020
  • Payment Options Available for Recurring Payments, by B2B and B2C Companies, in % of Payment Decision-Makers, September 2020
  • Technologies Used to Handle Recurring Payments, in % of B2B and B2C Payment Decision-Makers, September 2020
  • Percentage of Customers with Failed Payments that Turned into Churn, by B2C and B2B, and B2B Only Companies, in %, September 2020
  • Implications for B2B & B2C Businesses from Recurring Payments Fails, in % of Payment Decision-Makers, September 2020
  • Investment Plans Regarding Recurring Payment Service Providers, in % of B2B and B2C Payment Decision-Makers, September 2020
  • Benefits of Adopting a Recurring Payment Solution, in % of B2B & B2C Payment Decision-Makers, September 2020

3.North America

3.1.United States

  • Paid Subscriptions Market Revenue, in USD billion, 2019 & 2020
  • Consumer Spending in Top 100 Subscription Applications, by App Store and Google Play Store, in USD billion, 2019 & 2020
  • SVOD Revenue, in USD million, 2019 & 2020e & 2025f
  • Share of Adult Consumers Who Have Select Types of Subscriptions, in %, February 2020 & July 2020 & February 2021
  • Features That Subscription Merchants Provide, by Provider’s Index Score, incl. Top 30, Middle, and Bottom 30, in %, February 2021
  • Limited Tier Paid Subscriptions Market Revenue, in USD million, 2019 & 2020
  • Share of Paid Subscriptions, in % of Total Music Retail Revenue, 2020
  • Annual Average of Paid Music Subscriptions, in millions, and Y-o-Y Change, in %, 2016 – 2020
  • Number of Streaming Services in Use, in % of Adults, April 2020 & December 2020
  • Per Month Average Payment for All Streaming Services Combined, in USD, April 2020 & December 2020
  • Average per Month Spending for Subscription Services, in USD, by Age Group, September 2020
  • Top 7 Streaming Services Subscribed or Have Access to, in % of Adults, April 2020 & December 2020
  • Subscription and Select Internet Activity, in % of Consumers, February 2021
  • Top Payment Processors for Recurring Payments, incl. Overall, Pricing & Contract, Recurring Payment Types, General Features, and Expert Scores, May 2021
  • Top Payment Processors for Recurring Payments, incl. Pros, Cons, and Recurring Payment Features, May 2021

3.2.Canada

  • Share of Respondents Who Has Subscriptions for Physical Goods, in %, March 2021
  • Share of Consumers Having Certain Number of Subscriptions, in %, April 2020
  • Estimated Change in the Number of Subscriptions in the next 12 Months, in %, April 2020
Read More
  • Amazon
  • Apple Pay
  • Disney
  • Google Pay
  • HBO
  • Hulu
  • JustFab
  • NatureBox
  • Netflix
  • PayPal
  • PaySimple
  • QuickBooks Payment
  • Square
  • Stax
  • Stripe
  • Thrive Market
  • Wave
  • Youtube
Read More

Forgot your Password?

We will send you and e-mail with a link to
recover your password

POST NEW COMMENT

SHARE THIS POST