One thing you’ll learn at SubSummit is that there are more companies in the “recurring revenue” space than you’d imagine.
The usual suspects—Netflix, Spotify, Amazon and HelloFresh—compete for space in Americans’ debit card statements every month. About 86 percent of us pay for at least one streaming service, according to Lending Tree, and C+R Research has found that consumers underestimate their spend on subscriptions by $133 a month.
It’s no wonder hundreds of companies are looking to either expand their own subscription offerings or enter the business for the first time.
“Panera has built out a membership program with their Sip Club,” explained Lauren Pienta, SubSummit’s event and content manager. “It used to be that you go to the restaurant, get your food and leave. Now they built this Sip Club for $9 to $12 a month, and you see this customer is coming in more often. How do you provide more value for them?”
That’s one of the questions that SubSummit—running from May 28 to May 30 at the Sheraton Dallas Hotel—hopes to answer. After all, newbies to the subscription race need a place to find vendors, exchange market research, debut their products and court new clients.
This year will bring more opportunities than ever before. On their 10th anniversary, the conference is expecting more than 2,500 people at the hotel for keynotes, breakout seminars, one-on-one meetings and regular old trade show buzz.
“We really want to level up our experience so that [attendees] walk in and really engage with all the subscription and loyalty in today’s economy,” Pienta said.
The companies in attendance offer everything from recurring billing software to packing and logistics. “There’s something for everyone,” Pienta added.
The topic on everyone’s mind?
“AI is in the headlines everywhere,” said conference co-founder Paul Chambers. “How is AI integrated into businesses, and how are these companies creating solutions centered around it?”
He cites the example of Umi, an AI-powered wellness coach unveiled by Panasonic at CES in Las Vegas last month. The product is meant to help families manage goals, tasks and quality time.
“That’s using AI to build a new subscription membership program, so there’s a lot of conversation about that,” he said. “It’s the rush of finding a way to benefit the business.”
Another hot topic is bundling. The New York Times, for example, already partners with several international publications, offering access to its journalism to readers of papers like El País in Spain in order to bolster its subscriber base. The Times has also considered letting other publications offer access to its suite of games, including Connections, Sudoku and Wordle. All of this, of course, in the name of growth.
It’s a golden age for subscriptions, Pienta and Chambers explain.
Consider Fabletics. The Los Angeles-based apparel company, mostly known for its leggings, started out as an online subscription service for activewear. They’ve since expanded to brick-and-mortar stores, but recurring revenue remains at the core of their business.
“We have a big mall around here and they have a retail store there, but the staff is really well versed in the membership program,” Pienta said.
Economies of Scale
SubSummit is back at the Sheraton Dallas, where Pienta and Chambers are keen on facilitating chance encounters throughout the day.
“We’re focused on creating those serendipitous moments,” Chambers said. “More lounge and sitting areas, more cafés and coffee stops for people to find and meet.”
For one-on-one meetings, the duo is once again using PersonaTech, a software run by names behind big events like Fintech Meetup, Shoptalk and Money 20/20.
Before the conference, guests are instructed to fill out a profile and prioritize different people.
“It’s turned into the heartbeat of our event,” Pienta said. “If we’re having over 3,000 one-to-one meetings, we want to make sure they’re valuable.”
Like every other industry, B2B events are feeling the squeeze of rising costs and inflation. Chambers recalls poring over the food costs for SubSummit and having a conversation with the Sheraton about what they could realistically afford. The hotel agreed to work with the conference on affordable yet tasty options.
“The conversations we’re having with our vendors are the same conversations the brands are having in their space,” Pienta said. “It’s reflective of what’s going on in the economy in general.”
Tickets for SubSummit are available now and start at $999 for DTC brands, with free tickets available for employees in transition.
