Streaming Subscriptions A Popular Gift This Year
This year, when you can’t think of just what to give someone you might want to skip the gift card and instead give a streaming subscription as a gift. The practice is expected to be a popular gift this holiday season and when you think about it, it makes a lot of sense. Most people watch TV, and with streaming subs there are genres for everything from general services to the super niche. You can give someone the gift of learning with something like Wonderium or give them a scare with Shudder.
Subscriptions are the shining stars for the 2022 holiday season. According to a new survey conducted by Recurly, a leading subscription management and billing platform, this holiday season will be big for gifting subscriptions, with 63% of consumers reporting that they’d be interested in gifting a subscription and 70% saying they’d be interested in receiving a subscription themselves. In fact, Gen Z and Millennials lead the charge with 72% interested in receiving subscriptions as gifts.
Who’s on the list?
When it comes to giving gifts, of those consumers surveyed, close family members (60%), significant others (55%) and friends (49%) will receive the most gifts this year, and not any gift will do. Shoppers are looking for thoughtful (75%) and useful (70%) gifts, which is where personalization comes in. Personalizing subscription purchases, or giving a gift card option so the recipient can personalize their own subscription experience, meets gift-giving criteria. Gift cards show as one of the top gifting categories (50%) people would like to give – and receive – this holiday season.
What’s the perfect price point?
Both convenience and cost are key for consumers who are looking to gift subscriptions this holiday season. Consumers specifically report interest in gifting subscriptions because they are:
- Easy to purchase: 53%
- Easy to budget: 45%
- Easy to deliver: 41%
“Consumers are looking for useful, thoughtful gifts, and that speaks directly to the strengths of gift subscriptions,” said Theresa McEndree, Chief Marketing Officer at Recurly. “Consumers can try a new brand, or share something they already love, and there are so many subscription options. There is something perfect for everyone on the list – from the pet-lover to the gamer to the foodie.”
One for you, one for me
Consumers report that the top reasons they like receiving subscriptions as a gift is that it:
- Allows them to experience something new (60%)
- Offers a variety of carefully selected options to choose from (44%)
- Allows them to choose what they want (40%)
- Provides exclusive access to their favorite brands (36%)
Streaming video (54%), gaming (39%), and streaming audio (36%) are the top three categories most likely to be given as a gift, and more than half reported that they would continue a subscription if they found it fun, useful, or helpful (52%)