It is hard to believe today is the last Friday in April, but here we are. To help you move smoothly into May, we’ve got five great subscription stories to share: PYMNTS explores how subscriptions are changing the video game industry, Digital Trends reports on how 20 million Chrome users got tricked into downloading fake ad blockers, MarTech Advisor shares why it believes subscription businesses will succeed in a data-driven world, Lenfest Institute tells us how Berkeleyside’s direct public offering raised $1 million to fund operations, and Shopify offers advice on how to create a press kit.
PYMNTS: Subscriptions Are Changing the Gaming Industry
According to PYMNTS, U.S. consumers spent $36 billion on video games every year. In 2017, about 7,600 games were released, an average of 21 games per day. That’s a lot of video games! This popularity has created a market for video game subscription services like Jump, Gamefly and Utomik, so that consumers who don’t want to buy a host of games can still access a variety of options, similar to a Netflix or Spotify subscription.
Big gaming companies are also getting in on the action with subscription services like PlayStation Now, Xbox One Pass, EA Access and the forthcoming Nintendo Switch subscription. Video game subscriptions give consumers choices. Consumers can sample a large variety of games for a flat monthly fee without having to pay $60+ for a new game that they are then stuck with if they don’t like it.
As the popularity of gaming subscriptions grows, competition will also grow. Gamers may choose to have multiple subscriptions, so they can access the variety they crave. Video gaming companies will cater to that, but they will compete against each other for price and games. To read more about how subscriptions are shaping the video game industry, and how the industry avoids problems like password sharing, at PYMNTS.com.
20 Million Chrome Users Tricked into Downloading Fake Ad Blockers
On February 15, 2018, Google Chrome began blocking ads on some websites to comply with Better Ads Standards. That created an opportunity for hackers to create fake ad blockers and, boy, did they ever! According to Adguard, due to poor moderation of Chrome’s online WebStore, more than 20 million Chrome users were tricked into installing fake ad blockers that may contain malicious code.
Fake ad blockers include the following:
- AdRemover for Google Chrome (downloaded by more than 10 million users)
- uBlock Plus (downloaded by more than 8 million users)
- Adblock Pro (downloaded by more than 2 million users)
- HD for YouTube (downloaded by more than 400,000 users)
- Webutation (downloaded by more than 30,000 users)
To avoid downloading a fake ad blocker, Adguard recommends the following:
‘If you want to install an extension, think twice. And then think twice again at least do one thing: check who is the author of this extension. Do not install it if you don’t trust the author. Please note, that at some point the extension can be sold to someone else, and who knows what it will become,’ Andrey Meshkov of Adguard said.
Google has now removed the culprits from the Chrome WebStore. Read more about this situation at Adguard.
3 Reasons Subscription Businesses Will Succeed in a Data Driven World
Once upon a time, subscriptions were just for newspapers and magazines, but now consumers can get a subscription for a virtually unlimited variety of products and services including everything from streaming music and TVs to fashion and cars. In a recent blog post, MarTech Advisor shared five reasons why the subscription model will continue to help companies succeed in a data driven world. Here are three:
- Data-backed and predictive analysis and forecasting helps subscription companies understand their customers’ buying patterns, forecast future trends and predict customer behavior.
- Data drives lifetime value optimization. Using the right data sets, companies can determine how much it costs to acquire a new customer as well as what it costs to retain them and make decisions based on that information.
- Using data, companies can experiment to determine what is working and what can be improved upon to maximize the customer experience, retention and lifetime value.
For more on this topic, read ‘5 Reasons Subscription-based Businesses Will Do Better in a Data Driven World‘ on MarTech Advisor.
Berkeleyside Raises $1 Million in Direct Public Offering
Every month we hear about newspapers or magazines laying off staff, going to a digital-only version or ceasing operations altogether. One newspaper – Berkeleyside – an independent newspaper serving the Berkeley, California, found an alternative to keep its operations going. Recently, Berkeleyside closed a $1 million Direct Public Offering (DPO), reports Media Post. The founders of the publication had tried advertising, membership programs, subscriptions and events, but the funding was not enough to sustain the organization.
The company’s original goal for the DPO was $800,000. In the first five months, the newspaper raised $500,000, but fundraising became more challenging, says Media Post. Berkeleyside extended the DPO period and, earlier this month, the publication met its goal. To date, the investment has been used to hire another report, make the site mobile-friendly and to expand events and memberships. Could this be a possible funding alternative for other publications? Read more about Berkeleyside’s DPO on Media Post here.
How to Create a Press Kit for Your Subscription Business
Would you like to get more media coverage for your subscription business? A digital press kit, also called a media kit, is one way to share valuable information about your company in an online package that the media can access at their convenience. In a recent blog post by Corey Ferreira for Shopify, the writer explains that positive media attention can help attract potential customers and investors to your subscription company.
The goal behind a press kit is to reveal more about your brand, products and services and for you to tell your subscription company’s story your way. What’s in a press kit? Ferreira said there are a few “must haves” and everything else is a bonus.
Must haves include:
- Your brand’s story
- Key company facts
- High res images of your logo, branding and products
- Current or recent press releases
- Sample articles of press coverage
Other items to consider including in your press kit include:
- Creating a separate “[email protected]” so reporters can more easily reach the right person with media inquiries.
- Audio or video snippets
- Awards or recognition
- Community involvement
- Social media information
- Quotes or testimonials from customers
For more information on how to create a press kit for your subscription company read ‘How to Create a Press Kit That Gets Publicity for Your Business‘ on Shopify.