Nordic Subscription Economy: Week 39 -2021

By  Recuro
Sep 30th 2021
Read time: 
3 minutes
Table of contents

Weekly news roundup

1. Norwegian car subscription service shifts up in Sweden - Dagens industri

Norwegian Imove, a car subscription service that launched in Sweden in February, is already planning for an expansion after receiving 130 MSEK in funding. The number of cars will be increased from 100 to 1.000 and the number of models available will also increase.

“We have a different starting point, with a completely different infrastructure, knowledge and platform than we had when we started in Norway. We are in pole position to be able to take this car subscription industry by storm”

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2. 800.000 Swedish househoulds subscribe to audiobooks - Mediavision

The Swedish audiobook market grew by SEK 100 million during the first half of 2021 compared with the same period in 2020, writes Mediavision, while also noting that the market penetration might be approaching maturity

“So, what has led to [a growth of SEK 100 million], as household penetration is unchanged? The straightforward answer is consumption and packaging. The services are adjusting their packaging strategies – and raising prices – as they increasingly target ‘the whole family’, offering more streams per subscription. Multiple streams packaging is currently driving growth in revenues.”

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3. Amazon Prime has launched in Sweden - Breakit

Amazon Prime, a subscription service including free and fast delivieres and perks such as Amazon Prime Video, has launched in Sweden. The service is widely seen as one of the cornerstones in Amazon's dominance in the e-commerce space in many countries.

“[Amazon Prime] is also often described as a threat to other e-retailers: once you are part of the Amazon Prime world, you will be more inclined to buy goods from there, because you then pay a monthly cost to get free shipping and more.”

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4. A men's sexual health startup that's pushing therapy on subscription, and not pills, raise $4.4M - Techcrunch

U.K.-based startup Mojo has built a subscription service to support men’s sexual well-being by providing on-tap access to dedicated therapies — partnering with professional psychosexual therapists to provide online courses that are billed as offering a longer-term solution to male sexual health problems.

“Mojo’s quarterly subscription service (costing £49/$68 every three months) provides access to professional resources that Mojo bills as “unobtainable for most.”

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5. Study: More than half of all software companies plan to move to subscription models by 2023 - Venture Beat

More than half of companies are planning to move to subscription models in the next 18 months, according to a report from Revenera. The main reason, according to the report, is to be able to implement a recurring revenue model.

“[...] at the same time, a one-size-fits-all approach to either monetization or deployment strategy isn’t sufficient to keep pace with varied customer needs.”

Weekly analysis roundup

1. Neobanks latest ploy involves ultra cheap insurance - Sifted

Digital bank execs have been scratching their heads for years about how to lure users into premium subscriptions. They’ve tried shiny cards, exclusive features and even cashback. But now their attention seems to be on offering payment protection at low cost, allowing them to undercut pricey credit card companies, writes Sifted in an analysis.“Currently, 40% of Monese’s users are paying subscribers. While the new insurance features are expected to grow that ratio, offering “indirect revenue”, it’s still likely to run at a loss.”

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2. Comment: Forgetfulness is the problem with the subscription economy - Computer World

Consumers often find themselves paying for online services they forgot they’d signed up for. Businesses face similar challenges, writes Computer World.

“People spend an average of $273 on subscription services each month, or more than $3,200 per year. That’s up 15% over 2018. Most people haven’t a clue about how much they’re spending. In fact, their average estimates were off by an even wider margin than they were in the same study three years ago [....]”

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3. How a pet subscription startup is outfoxing giants like Chewy and Amazon – ZDNet

How do you build a subscription box business to rival major brands? PetFriendly, a startup that sells vet-quality flea & tick medication on a subscription model, has found success through personalization, pointing the way for other e-commerce startups to punch way above their weight.

“The Omaha-based subscription pet care company has leapt to the head of a crowded pack with a business strategy that seems unorthodox in the post-Bezos fulfilment paradigm: utilize all the efficiencies of modern logistics while also giving customers a personalized experience. That personal element is critical, a competitive advantage that giants like Amazon were never built to compete with.”

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