And, we’re back with another fresh edition of Friday Five, where we bring you the latest industry news and trends that have caught our attention! This week, we’re focusing on how nearly half of New York Times subscribers are bundling digital products, the subscription trend including sous vide cookers, the Biden administration’s efforts to make it easier for consumers to cancel subscriptions, news media competing for scattered readers’ attention, and how health systems are seeing returns on their digital health investments.
Nearly half The New York Times’ digital subscribers pay for more than one Times product
According to its latest earnings report, almost half of New York Times’ digital subscribers now pay for more than one Times product. The report also highlights a 12.9% increase in digital revenue, driven by bundled services such as The Athletic, Cooking, Games, and Wirecutter. However, this good news is tempered by a decline in news-only subscriptions. Read more on NiemanLab.
‘Everything is a subscription now’ includes the Anova sous vide cooker
In a move reflecting the growing trend of subscription models across various industries, Anova has launched a subscription service for its sous-vide devices. For $5.99 per month or 39.99 annually, the service offers exclusive recipes and cooking guides. Read more on 9to5Mac.
Biden admin wants to make canceling subscriptions easier
President Biden has proposed a new plan aimed at simplifying the process for consumers to cancel unwanted subscriptions. The initiative seeks to require companies to provide a more transparent way of opting out of recurring payments. This proposal is part of a broader effort to enhance consumer protections and transparency in the subscription industry. Read more on Axios.
News media compete for attention, but it’s unclear what company will win
News media companies are fiercely competing for audience attention in an increasingly crowded market. However, it remains uncertain which company will emerge as the leader. Capturing and retaining and consumer engagement amidst changing preferences has been an ongoing challenge, leading many to scramble to adopt new strategies, including the use of AI, to attract and maintain reader loyalty. Read more on INMA.
Health systems see digital health investments that pay off
The American Medical Association (AMA), an AdvantageCS client since 2002, reports that health systems are seeing significant returns on their investments in digital health technologies. These investments are markedly improving patient care and operational efficiency, as well as enhancing data management and integration. These positive outcomes demonstrate the growing value of digital health solutions in modern healthcare. Read more from the AMA.