Why own a car? When you can Uber/Ola everyday to office in a more cost effective way?
Sounds familiar? Welcome to the new generation. A generation that does not believe in owning and would rather rent it out. Welcome to the “Why own, when you can rent” generation”.
This generation believes in accessing anything anywhere on their fingertips in the most easy way. I don’t want to be stuck not having my car in the middle of the day. I want my car at a touch of a button.
Similarly, i am not going to wait to get home and look up for that 4 year old CD to listen to that song. I want it on my fingertips.
Welcome Apple Music (or well, gaana.com f you prefer)
Welcome to the Subscription Economy.
According to Zuora , Subscription Economy means – “the new business landscape in which traditional pay-per-product (or service) companies are moving toward subscription-based business models”
This model was pioneered by magazines and newspapers, but off late has been in use by many other business models.
Rather than selling a product individually, a subscription model asks the consumer to pay a periodic fee and gets him/her access to the entire gamut of services/products available. Repeat billing ensures subsequent revenues and the consumer is happy having access anytime anywhere.
Off late, i have been a part of this economy without actually knowing that i was becoming one.
The magazines and the newspaper subscriptions always existed alongside the cable TV subscription. TataSky recharge was a regular expense to watch uninterrupted TV. This was 2012.
I wanted access to all of the channels irrespective if i would ever watch it. My monthly bill was around 800 rupees. I was happy. I hated the sight of the screen which says i did not have access to a particular channel.
In spite of this hefty amount i was not completely satisfied. I wanted to be able to watch any movie any time, and not at the slotted time.
Welcome TataSky Record.
Wow! I can record my favourite shows and watch them at my leisure. The latest blockbuster making its world TV premiere at Sunday 9PM? No issues! I can still attend the party on sunday night and watch the recorded movie post the party, late sunday night.
I was happy. But still not quite satisfied. I had limited space on the Set Top Box, and i hated deleting stuff i have seen once. What if?
This is where the new age takes off completely.
All (or at least most) shows are now all online. I just need a good high speed broadband connection.
I am now off TataSky completely and HotStar, Netflix, Amazon Prime and the good old youtube have become my go to place for all visual media. The Apple TV i bought from Berlin is the best buy of last year.
This is not limited to the visual media alone. Other aspects of life are being engulfed by the subscription model gradually.
Don’t know which song to carry on the limited space on the iPhone? No issues.
Welcome Apple Music. (120 rupees a month is a steal!)
Can’t make up your mind on which magazine to buy/subscribe. Take it a step further.
Welcome Magzter Gold (get access to all (rather most) magazines as they are published, at the click of a button)
What do we welcome next?
p.s.: Even Amazon India offers a subscribe button on most essentials.