Early churn benchmarks suggest newly acquired subscribers stay

By Grzegorz Piechota

INMA

Oxford, United Kingdom

Connect      

News subscribers acquired during the COVID-19 pandemic retained better after the first month than those acquired before the crisis. This comes as a surprise, as many feared these customers were attracted by the news on the pandemic and might cancel once the interest wanes.

  • This insight is based on the study of 295 paywalled news sites, released by Piano, a publishers’ business platform.
  • Cancellations of monthly subscriptions acquired in March dropped an average of 17% compared to subscribers acquired in January and February.
  • According to Piano, European sites retained better than the United States — they reduced churn by an average of 34%, while in the United States churn was flat.
  • “Given the big increase in acquisition, even flat churn rate is impressive,” believes Patrick Appel, director of research at Piano.
  • In March, the European news sites sold on average 146% more subscriptions than in February, and the U.S. sites sold 60% more. 

Last week, after three months since the COVID-19 outbreak in Europe and in the United States, weekly online subscription sales continued to be above the pre-pandemic levels.

  • In the week of May 24, the new starts in Europe were 85% up versus the weekly average of January and February.
  • The new subscription starts in the United States were 25% up comparing to the pre-COVID averages.
  • “The European increase is driven by promotions, so I wouldn’t read too much into the divergence,” Appel explained to INMA.

Banner image courtesy of Tofros.com from Pexels.

By continuing to browse or by clicking ‘I ACCEPT,’ you agree to the storing of cookies on your device to enhance your site experience. To learn more about how we use cookies, please see our privacy policy.
x

I ACCEPT