What Content Creators Should Know About Subscription Models
The key to generating recurring income over time
The benefit of a 9–5 job is a steady paycheck but as a content creator your income can vary month to month and this makes it difficult to budget for expenses. How can you maintain a steady income while doing what you love? This is how leveraging a subscription model can help.
Having worked as a data analyst for companies with subscription models, I want to share my insights and how you can leverage this information to generate recurring income.
Introduction
A subscription model is when a business “charges customers a recurring fee — typically monthly or yearly — to access a product or service”. Netflix is a great example of a subscription model where you pay monthly to access video content. As a content creator, Substack and Patreon are popular platforms with subscription models you can leverage to generate recurring income.
The key to a subscription model is to get more new paying subscribers than the number that stop paying ( churn ). The longer your subscribers keep paying, the more recurring income you’ll make.
