what is subscription

A subscription is an amount of money that a customer pays regularly at fixed intervals for access to a product or service. The subscription business model is used in nearly every industry and is beneficial for many organizations because it encourages customer success and improves buyer retention. There are different categories of subscriptions, including subscriptions for a fixed set of goods or services, periodicals such as newspapers or magazines, subscription boxes containing a variety of consumables, community-supported agriculture, meal delivery services, and meal kit delivery services. In publishing, the subscription model typically involves a paywall or other "toll-access" system, and academic journals are typically available only to subscribers. Consumers may find subscriptions convenient if they believe that they will buy a product on a regular basis. A subscription business model is a recurring revenue model in which customers pay a weekly, monthly, or yearly fee in exchange for products or services, and customers can renew their subscription after a certain period of time.