RevenueCat raises $12M Series C as it expands its subscription management to the web + more

By  Recuro
May 3rd 2024
Read time: 
3 minutes
Table of contents
Weekly News Roundup
1. Daniel Ek promises more subscription options and bundles ahead – Digital Music News

The music – and audiobook – publishing industries have been less than enthused with the Stockholm-based audio streaming giant’s plans of a music-only and audiobook-only tier. Now, Spotify’s CEO Daniel Ek has addressed some of those industries’ concerns – by promising more subscription options and bundles on the horizon.

“We want to offer as much flexibility as possible in this next stage of Spotify, […] because we’re at the size where we want to appeal to an even larger base of consumers to turn to one of our subscription offerings. So that obviously means that you’ll see things like, for instance, the audiobook only tier.”

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2. RevenueCat raises $12M Series C as it expands its subscription management to the web  – Techcrunch

RevenueCat, a subscription management platform for apps that monetize via in-app purchases, is now flush with new capital as it expands to the web. The company has closed on a $12 million Series C.

“The timing of the product’s launch is notable, as it arrives amid the implementation of the EU’s Digital Markets Act (DMA) regulation, which is forcing Apple to open the iPhone and the App Store to new competition.”

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3. Norwegian company acquires Swedish SaaS company Locka – Press release

SmartCraft ASA has acquired Locka Group AB, adding software solutions within 3D visualization, customer interaction and after-sales service for the construction industry, to the Norwegian SaaS company’s portfolio.

“We are excited to have the Locka team joining SmartCraft and to offer their effective and appealing SaaS based specialized software solutions for 3D visualization, customer interaction and after-sales service. Locka is a great match for us and adds a wonderful complement to our existing portfolio of software solutions for the construction industry.”

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4. Viaplay outline plans to tackle password sharing – Broadband News

Following in the footsteps of the large American streamers, Viaplay has now launched a number of initiatives to limit the number of concurrent streams for live sports events in some markets. Anyone believed to be using a shared account will be asked to take out a paid subscription.

“What is very clear is that we do need much more help from the politicians and regulators to prevent and police all forms of illegal content distribution which effectively amount to theft of the content in which creators, owners and distributors have invested substantial sums.”

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5. A Swedish subscription service for home electrification comes out of stealth mode – LinkedIn

Geofy, a Swedish subscription company with a fixed-cost model for home electrification, has been announced. The company is backed by Giant Ventures, and a number of entrepreneurs.

“Starting today in Sweden, our service includes everything you need to become nearly self-sufficient in energy: solar panels, heat pumps, batteries, and more—all for a fixed monthly price, locked in for 15 years with no hidden fees.”

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Weekly Analysis Roundup

1. Users’ trust in editorial media – and willingness to pay – is influenced by four key drivers – Schibsted

With a major interview study, Schibsted has identified four key drivers of media trust. “The study indicates investing in trust can be a key to unlocking user revenue,” says Agnes Stenbom, project lead for the study.

“The other attitude we tested for was willingness to pay. […] What is important for trust seems to be equally important for willingness to pay. This is an important finding for any media looking for sustainable ways of financing their independent journalism.”

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2. Wave of complaints against Swedish company terminating subscriptions – Dagens Nyheter

Bymetis is a company specialized in subscription cancellations – by sending a termination letter on the behalf of customers to the company in question. The cost is 400 kronor for those who pay on time – but many users complain of not understanding that there was a cost attached at all.

“The Swedish Consumer Agency has received over 170 reports about the company since September. If you count reports, inquiries, and complaints received by the agency’s consumer guidance and its counterparts within the EU cooperation ECC, it’s well over 500 cases since last autumn.”

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3. “AI is about to make app subscription fatigue even worse” – Fast Company

The so-called subscription fatigue, when customers feel overwhelmed by the growing number of subscription services, has been a debated concept. Now, Fast Company writes that the AI wave could exacerbate the ‘fatigue’ as niche services flood the market.

“[…] it’s disappointing that the largest, wealthiest tech giants seem to be using the generative AI boom sweeping the tech industry to push their users into their pricey subscription offerings—especially when these tech giants are likely using our data to help train those various generative AI tools, meaning we’re effectively paying for the tools twice.”

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