The best e-business models are those that require the least resources, the lowest investment and costs, the least risks and ultimately high demand, revenue and profit potential. As someone who has developed both digital and physical products and services, scoped and implemented the systems to sell and deliver them, and the strategies to market those products and services, I’ve become a strong advocate of subscription services. They are a sensible choice for both profitable and speedy innovation, for those with resources and know-how. There are a number of revenue models for different types of online subscriptions for businesses and entrepreneurs to explore. Intelligent models also look at strategic partnerships to diminish the burden on consumers and business customers juggling multiple subscription accounts, purchasing and login credentials. (Extract Top 5 Digital World Predictions 2021)
In the final edition of my annual ‘E-Business Predictions’ in 2018, I proposed ‘Subscription Services Joining Forces’, and advised streaming platforms to offer a single sign-on facility for customers among subscription service partnerships. In 2020, with the exponential growth in subscribers and content demand, the economic climate was highly favourable to media platforms providing video, music, media and TV on-demand toentertain and educate consumers, who were spending away from more costly purchases. Music streaming platforms such as Spotify (with 113-million subscribers and 248-million users in 79 markets), had new rivals such as Boomplay (with 44-million subscribers and 217-million active users), and promise to dominate the African market. It’s no secret that giants like Netflix, Disney and Amazon moved into and booked out significant studio space in the UK in 2019, where there are attractive tax incentives for British investment in production. Growth trends and consumption recorded to end of 2019 for online media were at a rate of around 25% across the board. I advised in my Top 5 Digital World Predictions 2020 that “Content quality, sales and delivery to consumers in an ever competing market, should be at the heart strategy for media organisations in 2020 and beyond. This significant growth may trigger further regulation around the globe from government and industry bodies.”
Whatever the digital business model, there are considerable opportunities for innovation which must be customer-centric and focus on value as well as efficiency and profitability.
About the Author
Deborah Collier has developed strategies for digital downloadable, streaming and subscription content for 20-years. These include e-books, membership subscriptions, music downloads and online courses. Her most recent success is the digital transformation of classroom education – the productization and monetization of valuable content into over 45-hours of online interactive audio, video, animation content within 7-months, and the delivery through a branded e-commerce enabled online platform at Digital Skills Authority.