Subscription Business Revenue Grows 437% Over Nearly a Decade as Consumer Buying Preferences Shift from Ownership to Usership
REDWOOD CITY, Calif.–(BUSINESS WIRE)–Zuora, Inc., (NYSE:ZUO) the leading subscription management platform provider, today released its bi-annual Subscription Economy Index™ (SEI) which shows that subscription businesses have grown nearly 6x faster than the S&P 500 over the last 9 years, driven by an increase in consumer demand for the use of subscription services, according to a new survey1.
Conducted online by The Harris Poll on behalf of Zuora’s Subscribed Institute, the survey of 13,626 adults across 12 countries reveals the growing consumer preferences for use of subscription services over the ownership of physical products. Results found within the End of Ownership report include:
- Use of subscription services is…