The subscription economy is booming. More than four in five U.S. consumers now pay for at least one streaming video service, helping support a broader subscription economy that has more than quintupled in size since 2012.
In no sector has this held truer than in consumer-facing media. The pandemic—coupled with a rising appetite for privacy—has only accelerated a years-long shift away from the traditional ad-supported model and toward the lucrative world of paid content.
But pivoting an all-encompassing business model and driving results in an increasingly crowded space is also a mammoth task. Marketers need a thorough understanding of their value proposition, access to cutting-edge technology that enables testing and optimization, and—most importantly—an excellent product that delivers a compelling experience to consumers.
It all raises an abundance of questions. On CleverTap Engage, our podcast and video interview series where we shine a light on leading CMOs achieving meaningful and memorable customer engagement, hosts Peggy Anne Salz and John Koetsier recently sat down with someone who has answers.
Sheri Bachstein — the global head of IBM Watson Advertising and GM of the IBM-owned Weather Company — has overseen a wildly successful pivot from a free app to a paid app. This came as a result of their effort to diversify revenue at the legacy media property.
Read the full article on the CleverTap blog.