Contents
Report
Subscription Performance Benchmarks 2024
Report
Subscription Performance Benchmarks 2024
Report
Subscription Performance Benchmarks 2024
Executive summary
Traffic across publishers has remained largely flat over the past two years, increasing by just 5%, while conversions jumped by 14% and subscription revenue surged 28%. Even for those with audience declines, a significant majority of publishers see higher average revenue per user (ARPU) by refining acquisition and retention strategies. In fact, overall revenue per thousand users increased by 21%, from $24 to $29. 76% of sites that had a drop in traffic had an increase in revenue. And 54% of sites with a drop in traffic had an increase in conversions.
This reflects a shift from focusing on sheer volume to engaging and retaining high-value users. Despite challenges—declining social referrals, AI concerns and third-party cookie uncertainties—publishers are finding ways to optimize the value of their audiences. By prioritizing engagement, lifetime value (LTV) and retention strategies, publishers can thrive even in a flat traffic environment.
Executive summary
Traffic across publishers has remained largely flat over the past two years, increasing by just 5%, while conversions jumped by 14% and subscription revenue surged 28%. Even for those with audience declines, a significant majority of publishers see higher average revenue per user (ARPU) by refining acquisition and retention strategies. In fact, overall revenue per thousand users increased by 21%, from $24 to $29. 76% of sites that had a drop in traffic had an increase in revenue. And 54% of sites with a drop in traffic had an increase in conversions.
This reflects a shift from focusing on sheer volume to engaging and retaining high-value users. Despite challenges—declining social referrals, AI concerns and third-party cookie uncertainties—publishers are finding ways to optimize the value of their audiences. By prioritizing engagement, lifetime value (LTV) and retention strategies, publishers can thrive even in a flat traffic environment.
Executive summary
Traffic across publishers has remained largely flat over the past two years, increasing by just 5%, while conversions jumped by 14% and subscription revenue surged 28%. Even for those with audience declines, a significant majority of publishers see higher average revenue per user (ARPU) by refining acquisition and retention strategies. In fact, overall revenue per thousand users increased by 21%, from $24 to $29. 76% of sites that had a drop in traffic had an increase in revenue. And 54% of sites with a drop in traffic had an increase in conversions.
This reflects a shift from focusing on sheer volume to engaging and retaining high-value users. Despite challenges—declining social referrals, AI concerns and third-party cookie uncertainties—publishers are finding ways to optimize the value of their audiences. By prioritizing engagement, lifetime value (LTV) and retention strategies, publishers can thrive even in a flat traffic environment.
Traffic shifts
Growth to engagement
Given that global traffic growth was 5% between Q3 2022 and Q3 2024, the idea that media isn’t growing due to fragmented traffic doesn’t tell the full story.
Traffic shifts
Growth to engagement
Given that global traffic growth was 5% between Q3 2022 and Q3 2024, the idea that media isn’t growing due to fragmented traffic doesn’t tell the full story.
Traffic shifts
Growth to engagement
Given that global traffic growth was 5% between Q3 2022 and Q3 2024, the idea that media isn’t growing due to fragmented traffic doesn’t tell the full story.
Traffic, Conversion and Revenue Growth Q3 2024 vs. Q3 2022
Traffic, Conversion and Revenue Growth Q3 2024 vs. Q3 2022
Traffic, Conversion and Revenue Growth Q3 2024 vs. Q3 2022
While some publishers, particularly political sites, have seen traffic declines—largely attributable to the reduction in social media referrals—many others have held steady or even experienced growth.
While some publishers, particularly political sites, have seen traffic declines—largely attributable to the reduction in social media referrals—many others have held steady or even experienced growth.
While some publishers, particularly political sites, have seen traffic declines—largely attributable to the reduction in social media referrals—many others have held steady or even experienced growth.
Referrer Traffic Trends
Referrer Traffic Trends
Referrer Traffic Trends
Historically, Google has contributed to this stability, but its evolving strategies pose a risk.
It remains a top driver of both traffic and conversions, but the “Search Generative Experience” could disrupt future search patterns. In fact, 24% of traffic comes from Google vs. 1% from Facebook.
Historically, Google has contributed to this stability, but its evolving strategies pose a risk.
It remains a top driver of both traffic and conversions, but the “Search Generative Experience” could disrupt future search patterns. In fact, 24% of traffic comes from Google vs. 1% from Facebook.
Historically, Google has contributed to this stability, but its evolving strategies pose a risk.
It remains a top driver of both traffic and conversions, but the “Search Generative Experience” could disrupt future search patterns. In fact, 24% of traffic comes from Google vs. 1% from Facebook.
Share of Conversions for Search and Social
Share of Conversions for Search and Social
Share of Conversions for Search and Social
This uncertain future heightens the need for publishers to diversify their traffic sources and double down on audience engagement strategies. With traffic growth less certain, every visitor that arrives at your website is more valuable. That means building a strategy at every step of the customer journey to move visitors toward engagement and conversion. For new visitors, focus on getting a second pageview. For repeat visitors, target email capture via newsletter signup. And for every user segment, use propensity to predict conversion likelihood.
This uncertain future heightens the need for publishers to diversify their traffic sources and double down on audience engagement strategies. With traffic growth less certain, every visitor that arrives at your website is more valuable. That means building a strategy at every step of the customer journey to move visitors toward engagement and conversion. For new visitors, focus on getting a second pageview. For repeat visitors, target email capture via newsletter signup. And for every user segment, use propensity to predict conversion likelihood.
This uncertain future heightens the need for publishers to diversify their traffic sources and double down on audience engagement strategies. With traffic growth less certain, every visitor that arrives at your website is more valuable. That means building a strategy at every step of the customer journey to move visitors toward engagement and conversion. For new visitors, focus on getting a second pageview. For repeat visitors, target email capture via newsletter signup. And for every user segment, use propensity to predict conversion likelihood.
Prepare for shifts in search algorithms by doubling down on direct traffic and email, also focus on smart segmentation of different traffic sources to drive user engagement.
Advice
Prepare for shifts in search algorithms by doubling down on direct traffic and email, also focus on smart segmentation of different traffic sources to drive user engagement.
Advice
Prepare for shifts in search algorithms by doubling down on direct traffic and email, also focus on smart segmentation of different traffic sources to drive user engagement.
Advice
Social media traffic decline
Social media traffic referrals from Facebook and X (formerly Twitter) have dropped significantly. Facebook traffic dropped by 34% between Q3 2022 and Q3 2024. Political sites in particular experienced sharp drops in traffic due to a 60% plunge in Facebook referrals over two years, yet others have maintained steady traffic or even achieved growth.
The 2022 acquisition and dramatic platform changes of X were acutely felt by publishers. Traffic from X has had a 49% decline since its ownership changed in 2022. Threads, Instagram's answer to X, has done little to fill the gap: less than 0.5% of traffic comes from Instagram and Threads combined. That said, for many media companies, the reader revenue impact from this social drop-off hasn't been huge: social media has never been the dominant driver of subscriptions, accounting for only around 3% historically.
Social media traffic decline
Social media traffic referrals from Facebook and X (formerly Twitter) have dropped significantly. Facebook traffic dropped by 34% between Q3 2022 and Q3 2024. Political sites in particular experienced sharp drops in traffic due to a 60% plunge in Facebook referrals over two years, yet others have maintained steady traffic or even achieved growth.
The 2022 acquisition and dramatic platform changes of X were acutely felt by publishers. Traffic from X has had a 49% decline since its ownership changed in 2022. Threads, Instagram's answer to X, has done little to fill the gap: less than 0.5% of traffic comes from Instagram and Threads combined. That said, for many media companies, the reader revenue impact from this social drop-off hasn't been huge: social media has never been the dominant driver of subscriptions, accounting for only around 3% historically.
Social media traffic decline
Social media traffic referrals from Facebook and X (formerly Twitter) have dropped significantly. Facebook traffic dropped by 34% between Q3 2022 and Q3 2024. Political sites in particular experienced sharp drops in traffic due to a 60% plunge in Facebook referrals over two years, yet others have maintained steady traffic or even achieved growth.
The 2022 acquisition and dramatic platform changes of X were acutely felt by publishers. Traffic from X has had a 49% decline since its ownership changed in 2022. Threads, Instagram's answer to X, has done little to fill the gap: less than 0.5% of traffic comes from Instagram and Threads combined. That said, for many media companies, the reader revenue impact from this social drop-off hasn't been huge: social media has never been the dominant driver of subscriptions, accounting for only around 3% historically.
Diversify audience engagement across a broad range of referral channels and ensure content distribution beyond traditional social platforms. Consider targeting your social media audience with a simple ask to drive engagement, such as testing email collection or registration. Social visitors, especially those who return multiple times, are a good audience to target for email newsletter signup. Piano data also shows that users who visit via multiple referrer types have a higher conversion rate.
Advice
Diversify audience engagement across a broad range of referral channels and ensure content distribution beyond traditional social platforms. Consider targeting your social media audience with a simple ask to drive engagement, such as testing email collection or registration. Social visitors, especially those who return multiple times, are a good audience to target for email newsletter signup. Piano data also shows that users who visit via multiple referrer types have a higher conversion rate.
Advice
Diversify audience engagement across a broad range of referral channels and ensure content distribution beyond traditional social platforms. Consider targeting your social media audience with a simple ask to drive engagement, such as testing email collection or registration. Social visitors, especially those who return multiple times, are a good audience to target for email newsletter signup. Piano data also shows that users who visit via multiple referrer types have a higher conversion rate.
Advice
Lifetime value takes the lead
Even as traffic levels out and growth slows, conversions and revenue are up. Publishers are refocusing on LTV and stronger retention strategies. While traffic growth is only 5% on average, more than half of clients increased their audience in the past two years. Across all sites in the Piano benchmark, 61% of publishers increased conversions and 85% increased revenue. Even for the clients with traffic declines, half of them still increased conversions, and 76% saw revenue growth. And for all clients ARPU jumped by 21% from $24 to $29.
Lifetime value takes the lead
Even as traffic levels out and growth slows, conversions and revenue are up. Publishers are refocusing on LTV and stronger retention strategies. While traffic growth is only 5% on average, more than half of clients increased their audience in the past two years. Across all sites in the Piano benchmark, 61% of publishers increased conversions and 85% increased revenue. Even for the clients with traffic declines, half of them still increased conversions, and 76% saw revenue growth. And for all clients ARPU jumped by 21% from $24 to $29.
Lifetime value takes the lead
Even as traffic levels out and growth slows, conversions and revenue are up. Publishers are refocusing on LTV and stronger retention strategies. While traffic growth is only 5% on average, more than half of clients increased their audience in the past two years. Across all sites in the Piano benchmark, 61% of publishers increased conversions and 85% increased revenue. Even for the clients with traffic declines, half of them still increased conversions, and 76% saw revenue growth. And for all clients ARPU jumped by 21% from $24 to $29.
Share of Clients that Increased Revenue Based on their Traffic Changes
Q3 2024 vs. Q3 2022
Share of Clients that Increased Revenue Based on their Traffic Changes
Q3 2024 vs. Q3 2022
Share of Clients that Increased Revenue Based on their Traffic Changes
Q3 2024 vs. Q3 2022
100%
Sites in Benchmark
54%
Increase in visitors
46%
Decrease in visitors
93%
Increase in revenue
76%
Increase in revenue
100%
Sites in Benchmark
54%
Increase in visitors
46%
Decrease in visitors
93%
Increase in revenue
76%
Increase in revenue
A consistent engagement strategy diversified across channels and other segments will help drive engagement and conversion for existing audiences that is consistent beyond fleeting traffic spikes, and which will lead to better retention rates.
Advice
A consistent engagement strategy diversified across channels and other segments will help drive engagement and conversion for existing audiences that is consistent beyond fleeting traffic spikes, and which will lead to better retention rates.
Advice
A consistent engagement strategy diversified across channels and other segments will help drive engagement and conversion for existing audiences that is consistent beyond fleeting traffic spikes, and which will lead to better retention rates.
Advice
Monetizing audiences
Pricing strategies have evolved. Monthly and annual terms are still most common, but introductory rate tactics have changed. Between January 2022 and September 2024, median introductory prices increased by 7% for monthly and 5% for annual subscriptions. Still, conversions climbed.
Free trials, once a common tactic for driving large volumes of new subscriptions, have fallen out of favor due to poor retention rates. Many users who sign up for free trials often disable auto-renewal after accessing a specific piece of content. Paid trials perform better than free trials, as users who invest even a small amount upfront are more likely to renew at higher rates. Still, no-trial subscribers have the highest retention rates.
Monetizing audiences
Pricing strategies have evolved. Monthly and annual terms are still most common, but introductory rate tactics have changed. Between January 2022 and September 2024, median introductory prices increased by 7% for monthly and 5% for annual subscriptions. Still, conversions climbed.
Free trials, once a common tactic for driving large volumes of new subscriptions, have fallen out of favor due to poor retention rates. Many users who sign up for free trials often disable auto-renewal after accessing a specific piece of content. Paid trials perform better than free trials, as users who invest even a small amount upfront are more likely to renew at higher rates. Still, no-trial subscribers have the highest retention rates.
Monetizing audiences
Pricing strategies have evolved. Monthly and annual terms are still most common, but introductory rate tactics have changed. Between January 2022 and September 2024, median introductory prices increased by 7% for monthly and 5% for annual subscriptions. Still, conversions climbed.
Free trials, once a common tactic for driving large volumes of new subscriptions, have fallen out of favor due to poor retention rates. Many users who sign up for free trials often disable auto-renewal after accessing a specific piece of content. Paid trials perform better than free trials, as users who invest even a small amount upfront are more likely to renew at higher rates. Still, no-trial subscribers have the highest retention rates.
Retention Rates by Trial Type
(annual terms)
Retention Rates by Trial Type
(annual terms)
Retention Rates by Trial Type
(annual terms)
But Piano client data shows that LTV for annual subscribers is higher for paid trial users when compared to no trial users, even though no trial terms have better retention rates. Notably, where LTV is higher for annual paid trial users, it is actually lower for monthly paid trial users. Monthly paid trial pricing saw no major increases, and when combined with their lower retention rates, we see lower LTV in the out-years when compared to no trial users. In other words: the higher a publisher's paid standard pricing, the more likely it is that they use an introductory rate to get users in the door.
But Piano client data shows that LTV for annual subscribers is higher for paid trial users when compared to no trial users, even though no trial terms have better retention rates. Notably, where LTV is higher for annual paid trial users, it is actually lower for monthly paid trial users. Monthly paid trial pricing saw no major increases, and when combined with their lower retention rates, we see lower LTV in the out-years when compared to no trial users. In other words: the higher a publisher's paid standard pricing, the more likely it is that they use an introductory rate to get users in the door.
But Piano client data shows that LTV for annual subscribers is higher for paid trial users when compared to no trial users, even though no trial terms have better retention rates. Notably, where LTV is higher for annual paid trial users, it is actually lower for monthly paid trial users. Monthly paid trial pricing saw no major increases, and when combined with their lower retention rates, we see lower LTV in the out-years when compared to no trial users. In other words: the higher a publisher's paid standard pricing, the more likely it is that they use an introductory rate to get users in the door.
Lifetime Value, Paid vs. No-Trial Term
(Monthly and annual terms)
Lifetime Value, Paid vs. No-Trial Term
(Monthly and annual terms)
Lifetime Value, Paid vs. No-Trial Term
(Monthly and annual terms)
In terms of balancing monthly vs. annual subscriptions, publishers are increasingly favoring long-term subscribers. Monthly subscriptions have grown in popularity with consumers due to their flexibility and lower up-front out-of-pocket cost. But annual subscribers tend to stay on file much longer, with retention rates nearly double that of monthly users after the first year. Additionally, pricing strategies that discount annual subscriptions while raising monthly rates can further push users toward long-term commitments, leading to higher overall LTV. Publishers are also exploring tiered pricing models to offer premium content to high-value users while keeping entry-level options accessible, or to increase renewal price over time.
In terms of balancing monthly vs. annual subscriptions, publishers are increasingly favoring long-term subscribers. Monthly subscriptions have grown in popularity with consumers due to their flexibility and lower up-front out-of-pocket cost. But annual subscribers tend to stay on file much longer, with retention rates nearly double that of monthly users after the first year. Additionally, pricing strategies that discount annual subscriptions while raising monthly rates can further push users toward long-term commitments, leading to higher overall LTV. Publishers are also exploring tiered pricing models to offer premium content to high-value users while keeping entry-level options accessible, or to increase renewal price over time.
In terms of balancing monthly vs. annual subscriptions, publishers are increasingly favoring long-term subscribers. Monthly subscriptions have grown in popularity with consumers due to their flexibility and lower up-front out-of-pocket cost. But annual subscribers tend to stay on file much longer, with retention rates nearly double that of monthly users after the first year. Additionally, pricing strategies that discount annual subscriptions while raising monthly rates can further push users toward long-term commitments, leading to higher overall LTV. Publishers are also exploring tiered pricing models to offer premium content to high-value users while keeping entry-level options accessible, or to increase renewal price over time.
It is important to continually optimize price to balance revenue growth and subscriber acquisition. Testing higher trial pricing may yield better results initially, but analyze these results in conjunction with renewal rates, standard rollout pricing and LTV over time.
Advice
It is important to continually optimize price to balance revenue growth and subscriber acquisition. Testing higher trial pricing may yield better results initially, but analyze these results in conjunction with renewal rates, standard rollout pricing and LTV over time.
Advice
It is important to continually optimize price to balance revenue growth and subscriber acquisition. Testing higher trial pricing may yield better results initially, but analyze these results in conjunction with renewal rates, standard rollout pricing and LTV over time.
Advice
Mobile’s dominance converts
Mobile has been the largest share of audience for years, but conversions are catching up. Mobile now accounts for 76% of visits and more than half of all paid conversions. As it becomes the dominant conversion channel, publishers must ensure frictionless, user-friendly mobile experiences. This growth reflects both the increasing ease of mobile transactions and evolving habits. Simple payment processes and a user-friendly interface, such as vertically-stacked offers or testing single offer templates, are critical to capture and convert this growing mobile audience. By prioritizing mobile, publishers are not only adapting to user behavior but also enhancing their ability to drive higher revenue.
Mobile’s dominance converts
Mobile has been the largest share of audience for years, but conversions are catching up. Mobile now accounts for 76% of visits and more than half of all paid conversions. As it becomes the dominant conversion channel, publishers must ensure frictionless, user-friendly mobile experiences. This growth reflects both the increasing ease of mobile transactions and evolving habits. Simple payment processes and a user-friendly interface, such as vertically-stacked offers or testing single offer templates, are critical to capture and convert this growing mobile audience. By prioritizing mobile, publishers are not only adapting to user behavior but also enhancing their ability to drive higher revenue.
Mobile’s dominance converts
Mobile has been the largest share of audience for years, but conversions are catching up. Mobile now accounts for 76% of visits and more than half of all paid conversions. As it becomes the dominant conversion channel, publishers must ensure frictionless, user-friendly mobile experiences. This growth reflects both the increasing ease of mobile transactions and evolving habits. Simple payment processes and a user-friendly interface, such as vertically-stacked offers or testing single offer templates, are critical to capture and convert this growing mobile audience. By prioritizing mobile, publishers are not only adapting to user behavior but also enhancing their ability to drive higher revenue.
Mobile vs. Desktop Conversions, 2022-2024
Mobile vs. Desktop Conversions, 2022-2024
Mobile vs. Desktop Conversions, 2022-2024
Prioritize mobile optimization, from payment processes to content display, to create a positive experience, boosting conversion rates and revenue. Consider leveraging frictionless payments for a better mobile checkout experience. Test single offers to a mobile audience or template variants with a more limited amount of text.
Advice
Prioritize mobile optimization, from payment processes to content display, to create a positive experience, boosting conversion rates and revenue. Consider leveraging frictionless payments for a better mobile checkout experience. Test single offers to a mobile audience or template variants with a more limited amount of text.
Advice
Prioritize mobile optimization, from payment processes to content display, to create a positive experience, boosting conversion rates and revenue. Consider leveraging frictionless payments for a better mobile checkout experience. Test single offers to a mobile audience or template variants with a more limited amount of text.
Advice
Deepen engagement
User engagement is fundamental for driving higher conversions and lifetime value. Our data indicates that only 1% of users are “known” to publishers, while 66% remain one-off visitors.
Deepen engagement
User engagement is fundamental for driving higher conversions and lifetime value. Our data indicates that only 1% of users are “known” to publishers, while 66% remain one-off visitors.
Deepen engagement
User engagement is fundamental for driving higher conversions and lifetime value. Our data indicates that only 1% of users are “known” to publishers, while 66% remain one-off visitors.
1.2%
Median share of known users
1.2%
Median share of known users
1.2%
Median share of known users
In order to increase the share of known users and reduce the share of one-off visitors, publishers should focus on tactics that drive further engagement. There is a significant opportunity to convert anonymous visitors into engaged, repeat users, but users need a reason to log in. This is why registered user benefits are an important tool for driving repeat usage and engagement.
In order to increase the share of known users and reduce the share of one-off visitors, publishers should focus on tactics that drive further engagement. There is a significant opportunity to convert anonymous visitors into engaged, repeat users, but users need a reason to log in. This is why registered user benefits are an important tool for driving repeat usage and engagement.
In order to increase the share of known users and reduce the share of one-off visitors, publishers should focus on tactics that drive further engagement. There is a significant opportunity to convert anonymous visitors into engaged, repeat users, but users need a reason to log in. This is why registered user benefits are an important tool for driving repeat usage and engagement.
65.8%
Median share of one-off visitors
65.8%
Median share of one-off visitors
65.8%
Median share of one-off visitors
Start by encouraging repeat visits and pageviews by anonymous users through Piano’s content recommendations tool or on-site email collection. Give users reasons to log in and engage through registered user benefits. Once they’ve transitioned to regular visitors, work on converting them into known users or subscribers. Then focus on nurturing relationships through targeted engagement strategies. Implement onboarding messaging for new registrants and subscribers. Publishers should use an on-site onboarding campaign to drive users to sign up for email newsletters, download the app and register for additional events. This multi-channel approach keeps users returning, consuming more content and recognizing the brand’s value.
Leverage machine learning-driven models, such as Likelihood to Return (LtRtn) to target more loyal users who are inclined to come back to the site. For these users with a high LtRtn score, give them reasons to do so sooner, such as asking them to register in exchange for specific benefits. For those with a lower LtRtn score, encourage users to sign up to an editorial newsletter, thereby capturing their email address to push them into a channel know for driving high conversions. Additionally, Piano’s Likelihood to Subscribe (LtS) propensity model scores users with at least two pageviews, meaning that low-engaged, single pageview visitors have no score. But those users can still be targeted based on the content they read, utilizing Piano’s Content Likely to Convert (CLtC) model. By using CLtC together with LtS, articles with a high score can still be locked even for users with no score or low score, driving incremental conversions. By incorporating model scoring into paywalls and other on-site tactics, publishers can drive revenue without alienating users.
Start by encouraging repeat visits and pageviews by anonymous users through Piano’s content recommendations tool or on-site email collection. Give users reasons to log in and engage through registered user benefits. Once they’ve transitioned to regular visitors, work on converting them into known users or subscribers. Then focus on nurturing relationships through targeted engagement strategies. Implement onboarding messaging for new registrants and subscribers. Publishers should use an on-site onboarding campaign to drive users to sign up for email newsletters, download the app and register for additional events. This multi-channel approach keeps users returning, consuming more content and recognizing the brand’s value.
Leverage machine learning-driven models, such as Likelihood to Return (LtRtn) to target more loyal users who are inclined to come back to the site. For these users with a high LtRtn score, give them reasons to do so sooner, such as asking them to register in exchange for specific benefits. For those with a lower LtRtn score, encourage users to sign up to an editorial newsletter, thereby capturing their email address to push them into a channel know for driving high conversions. Additionally, Piano’s Likelihood to Subscribe (LtS) propensity model scores users with at least two pageviews, meaning that low-engaged, single pageview visitors have no score. But those users can still be targeted based on the content they read, utilizing Piano’s Content Likely to Convert (CLtC) model. By using CLtC together with LtS, articles with a high score can still be locked even for users with no score or low score, driving incremental conversions. By incorporating model scoring into paywalls and other on-site tactics, publishers can drive revenue without alienating users.
Start by encouraging repeat visits and pageviews by anonymous users through Piano’s content recommendations tool or on-site email collection. Give users reasons to log in and engage through registered user benefits. Once they’ve transitioned to regular visitors, work on converting them into known users or subscribers. Then focus on nurturing relationships through targeted engagement strategies. Implement onboarding messaging for new registrants and subscribers. Publishers should use an on-site onboarding campaign to drive users to sign up for email newsletters, download the app and register for additional events. This multi-channel approach keeps users returning, consuming more content and recognizing the brand’s value.
Leverage machine learning-driven models, such as Likelihood to Return (LtRtn) to target more loyal users who are inclined to come back to the site. For these users with a high LtRtn score, give them reasons to do so sooner, such as asking them to register in exchange for specific benefits. For those with a lower LtRtn score, encourage users to sign up to an editorial newsletter, thereby capturing their email address to push them into a channel know for driving high conversions. Additionally, Piano’s Likelihood to Subscribe (LtS) propensity model scores users with at least two pageviews, meaning that low-engaged, single pageview visitors have no score. But those users can still be targeted based on the content they read, utilizing Piano’s Content Likely to Convert (CLtC) model. By using CLtC together with LtS, articles with a high score can still be locked even for users with no score or low score, driving incremental conversions. By incorporating model scoring into paywalls and other on-site tactics, publishers can drive revenue without alienating users.
Use predictive tools and personalized content to enhance conversion rates. Develop onboarding campaigns that encourage new registrants to subscribe to newsletters, download apps, and participate in events, driving repeat visits and eventual paid conversion. Use propensity models as often as possible and, when applicable, in conjunction with each other.
Advice
Use predictive tools and personalized content to enhance conversion rates. Develop onboarding campaigns that encourage new registrants to subscribe to newsletters, download apps, and participate in events, driving repeat visits and eventual paid conversion. Use propensity models as often as possible and, when applicable, in conjunction with each other.
Advice
Use predictive tools and personalized content to enhance conversion rates. Develop onboarding campaigns that encourage new registrants to subscribe to newsletters, download apps, and participate in events, driving repeat visits and eventual paid conversion. Use propensity models as often as possible and, when applicable, in conjunction with each other.
Advice
Preventing churn is key to revenue growth
40% of subscribers who disable auto-renew, do so within the first two months, highlighting the importance of early engagement.
Preventing churn is key to revenue growth
40% of subscribers who disable auto-renew, do so within the first two months, highlighting the importance of early engagement.
Preventing churn is key to revenue growth
40% of subscribers who disable auto-renew, do so within the first two months, highlighting the importance of early engagement.
40.0%
Share of auto-renew disablements within the first 60 days
40.0%
Share of auto-renew disablements within the first 60 days
40.0%
Share of auto-renew disablements within the first 60 days
13.0%
Share of auto-renew disablements on the first day
13.0%
Share of auto-renew disablements on the first day
13.0%
Share of auto-renew disablements on the first day
Active churn prevention strategies, such as offering downgrades or discounts at the point of cancellation, have proven successful. Our data has so far shown that up to 16% of subscribers who enter the cancellation flow can be retained through these efforts. However, interruptive templates like surveys without incentives will often fail to retain subscribers, emphasizing the need for meaningful offers to encourage user retention.
Active churn prevention strategies, such as offering downgrades or discounts at the point of cancellation, have proven successful. Our data has so far shown that up to 16% of subscribers who enter the cancellation flow can be retained through these efforts. However, interruptive templates like surveys without incentives will often fail to retain subscribers, emphasizing the need for meaningful offers to encourage user retention.
Active churn prevention strategies, such as offering downgrades or discounts at the point of cancellation, have proven successful. Our data has so far shown that up to 16% of subscribers who enter the cancellation flow can be retained through these efforts. However, interruptive templates like surveys without incentives will often fail to retain subscribers, emphasizing the need for meaningful offers to encourage user retention.
Active Churn Prevention
Active Churn Prevention
Active Churn Prevention
6–16%
Save rate
Using a downgrade offer
6–16%
Save rate
Using a downgrade offer
6–16%
Save rate
Using a downgrade offer
0%
Save rate
Survey only
0%
Save rate
Survey only
0%
Save rate
Survey only
In the U.S., some publishers have seen success by pairing churn management efforts with renewal pricing strategies—approaches that are less common in Europe due to stricter regulations. In a move reminiscent of an old U.S. print model, publishers have been increasing renewal pricing by up to 20% for digital subscribers that have been on file for over a year–or for more than six months in the case of monthly subscribers.
In the U.S., some publishers have seen success by pairing churn management efforts with renewal pricing strategies—approaches that are less common in Europe due to stricter regulations. In a move reminiscent of an old U.S. print model, publishers have been increasing renewal pricing by up to 20% for digital subscribers that have been on file for over a year–or for more than six months in the case of monthly subscribers.
In the U.S., some publishers have seen success by pairing churn management efforts with renewal pricing strategies—approaches that are less common in Europe due to stricter regulations. In a move reminiscent of an old U.S. print model, publishers have been increasing renewal pricing by up to 20% for digital subscribers that have been on file for over a year–or for more than six months in the case of monthly subscribers.
Step-up Pricing Results
Step-up Pricing Results
Step-up Pricing Results
15–20%
Price increase
Digital subscribers
15–20%
Price increase
Digital subscribers
15–20%
Price increase
Digital subscribers
5–8%
Decrease in retention
AR disablement + churn
5–8%
Decrease in retention
AR disablement + churn
5–8%
Decrease in retention
AR disablement + churn
6–14%
Revenue bump
Annual offers
6–14%
Revenue bump
Annual offers
6–14%
Revenue bump
Annual offers
This approach led to an expected increase in churn of around 8%, but it has also led to as much as a 14% revenue increase.
Of course, client business goals vary drastically from one another. Yet our data show that the elevated churn risk, expected gains in revenue and average revenue per user typically offset any decline in renewing subscribers.
This approach led to an expected increase in churn of around 8%, but it has also led to as much as a 14% revenue increase.
Of course, client business goals vary drastically from one another. Yet our data show that the elevated churn risk, expected gains in revenue and average revenue per user typically offset any decline in renewing subscribers.
This approach led to an expected increase in churn of around 8%, but it has also led to as much as a 14% revenue increase.
Of course, client business goals vary drastically from one another. Yet our data show that the elevated churn risk, expected gains in revenue and average revenue per user typically offset any decline in renewing subscribers.
Share of Churn
Share of Churn
Share of Churn
71%
Active churn
71%
Active churn
71%
Active churn
29%
Passive churn
29%
Passive churn
29%
Passive churn
Passive churn prevention also plays a significant role. About 30% of subscriber churn is attributed to failed credit card renewals. To combat this, publishers are using passive churn tactics to retry payments successfully. Clients implementing Piano’s Passive Churn Prevention strategies have experienced double-digit increases in open rates for credit card failure notification emails and credit card update rates. By employing more personalized messaging and intelligent sequencing of emails and retries, these publishers are seeing significant improvements in subscriber engagement and retention, leading to higher overall success rates in preventing passive churn.
Passive churn prevention also plays a significant role. About 30% of subscriber churn is attributed to failed credit card renewals. To combat this, publishers are using passive churn tactics to retry payments successfully. Clients implementing Piano’s Passive Churn Prevention strategies have experienced double-digit increases in open rates for credit card failure notification emails and credit card update rates. By employing more personalized messaging and intelligent sequencing of emails and retries, these publishers are seeing significant improvements in subscriber engagement and retention, leading to higher overall success rates in preventing passive churn.
Passive churn prevention also plays a significant role. About 30% of subscriber churn is attributed to failed credit card renewals. To combat this, publishers are using passive churn tactics to retry payments successfully. Clients implementing Piano’s Passive Churn Prevention strategies have experienced double-digit increases in open rates for credit card failure notification emails and credit card update rates. By employing more personalized messaging and intelligent sequencing of emails and retries, these publishers are seeing significant improvements in subscriber engagement and retention, leading to higher overall success rates in preventing passive churn.
Implement both active and passive churn prevention strategies, such as offering tailored incentives to retain subscribers, particularly those who actively try to disable auto-renew, and retrying failed payments—and alerting users to update their credit card information when their payment does fail. Combine these retry emails with on-site messaging to users in a grace period, directing them to update their payment details in My Account.
Advice
Implement both active and passive churn prevention strategies, such as offering tailored incentives to retain subscribers, particularly those who actively try to disable auto-renew, and retrying failed payments—and alerting users to update their credit card information when their payment does fail. Combine these retry emails with on-site messaging to users in a grace period, directing them to update their payment details in My Account.
Advice
Implement both active and passive churn prevention strategies, such as offering tailored incentives to retain subscribers, particularly those who actively try to disable auto-renew, and retrying failed payments—and alerting users to update their credit card information when their payment does fail. Combine these retry emails with on-site messaging to users in a grace period, directing them to update their payment details in My Account.
Advice
Conclusion
Adapting to user behavior and industry shifts
The challenges publishers face today are not insurmountable. Despite declining traffic from traditional social media and evolving referral patterns, many publishers are thriving by focusing on engagement, conversion optimization, pricing strategies and churn prevention. The rise of mobile conversions and the decline of free trials highlight the need to continuously evolve with user preferences.
Achieving effective engagement and retention in today’s environment demands innovative solutions and strategic use of technological support. Build deeper connections with audiences, personalize user experiences and implement data-driven approaches like LtS and CLtC. Publishers can sustain revenue growth. With future uncertainties, particularly with anticipated shifts in search algorithms, a focus on quality engagement and monetizing loyal users will ensure publisher success.
Conclusion
Adapting to user behavior and industry shifts
The challenges publishers face today are not insurmountable. Despite declining traffic from traditional social media and evolving referral patterns, many publishers are thriving by focusing on engagement, conversion optimization, pricing strategies and churn prevention. The rise of mobile conversions and the decline of free trials highlight the need to continuously evolve with user preferences.
Achieving effective engagement and retention in today’s environment demands innovative solutions and strategic use of technological support. Build deeper connections with audiences, personalize user experiences and implement data-driven approaches like LtS and CLtC. Publishers can sustain revenue growth. With future uncertainties, particularly with anticipated shifts in search algorithms, a focus on quality engagement and monetizing loyal users will ensure publisher success.
Conclusion
Adapting to user behavior and industry shifts
The challenges publishers face today are not insurmountable. Despite declining traffic from traditional social media and evolving referral patterns, many publishers are thriving by focusing on engagement, conversion optimization, pricing strategies and churn prevention. The rise of mobile conversions and the decline of free trials highlight the need to continuously evolve with user preferences.
Achieving effective engagement and retention in today’s environment demands innovative solutions and strategic use of technological support. Build deeper connections with audiences, personalize user experiences and implement data-driven approaches like LtS and CLtC. Publishers can sustain revenue growth. With future uncertainties, particularly with anticipated shifts in search algorithms, a focus on quality engagement and monetizing loyal users will ensure publisher success.
This report leverages insights from Piano's customer benchmark data, collected between January 2022 and September 2024 and includes data across Piano's global publisher base. The analysis reflects user behavior and trends captured during this period, providing a snapshot of engagement across Piano's Digital Experience Platform. While this data offers valuable insights into performance and customer interactions, it is bounded by the timeframe specified and the methodologies employed. Future shifts in audience behavior may influence these trends beyond the data collection period.
Piano's Subscriptions Benchmarks Report defines average revenue per user, or ARPU, as subscription revenue per 1,000 unique visitors—a metric for assessing audience monetization through subscriptions. Note that this differs from the ARPU commonly used in telecom and streaming industries, which calculates the average revenue per paying user to understand the average price paid.
Data Qualifying Statement
This report leverages insights from Piano's customer benchmark data, collected between January 2022 and September 2024 and includes data across Piano's global publisher base. The analysis reflects user behavior and trends captured during this period, providing a snapshot of engagement across Piano's Digital Experience Platform. While this data offers valuable insights into performance and customer interactions, it is bounded by the timeframe specified and the methodologies employed. Future shifts in audience behavior may influence these trends beyond the data collection period.
Piano's Subscriptions Benchmarks Report defines average revenue per user, or ARPU, as subscription revenue per 1,000 unique visitors—a metric for assessing audience monetization through subscriptions. Note that this differs from the ARPU commonly used in telecom and streaming industries, which calculates the average revenue per paying user to understand the average price paid.
Data Qualifying Statement
This report leverages insights from Piano's customer benchmark data, collected between January 2022 and September 2024 and includes data across Piano's global publisher base. The analysis reflects user behavior and trends captured during this period, providing a snapshot of engagement across Piano's Digital Experience Platform. While this data offers valuable insights into performance and customer interactions, it is bounded by the timeframe specified and the methodologies employed. Future shifts in audience behavior may influence these trends beyond the data collection period.
Piano's Subscriptions Benchmarks Report defines average revenue per user, or ARPU, as subscription revenue per 1,000 unique visitors—a metric for assessing audience monetization through subscriptions. Note that this differs from the ARPU commonly used in telecom and streaming industries, which calculates the average revenue per paying user to understand the average price paid.
Data Qualifying Statement
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Learn more about subscription performance and Piano’s Digital Experience Platform
Contact us
Learn more about subscription performance and Piano’s Digital Experience Platform
Contact us
Learn more about subscription performance and Piano’s Digital Experience Platform
Empower every team to understand and influence customer behavior.
Platform
Industries
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Empower every team to understand and influence customer behavior.
Platform
Industries
Company
Empower every team to understand and influence customer behavior.
Platform
Industries
Company
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