Subscription models can be applied to traditionally product-based industries by shifting the focus from product ownership to customer outcomes. This can be achieved by offering access to a range of products or services for a recurring fee, rather than a one-time purchase. For example, Adobe transitioned to a cloud-based subscription service, despite an initial drop in revenue. Similarly, the car industry is exploring subscriptions that provide access to a variety of vehicles. Even industries like construction are considering subscription models, leveraging the Internet of Things to offer service-level agreements instead of just selling equipment. This model is also being explored in healthcare, government, and utilities.
Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sal...
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