Netflix: staying or leaving?

The average number of paid subscriptions US consumers had in 2022 was four. 

Twitter chatter is hinting at some of those consumers canceling one particular streaming service because of its approach to solving the password-sharing problem. 

If you’re “lucky” enough to live in certain regions of the world, you might’ve seen the dreaded “one household” email from Netflix hit your inbox this past weekend. Guess “love is sharing a password” doesn’t hold in a recession. 

Before you boycott Netflix, it might be useful to look at the subscription business from a more analytical angle. RevenueCat, the tool that powers in-app purchases for companies like Notion and Buffer, released the 2023 State of Subscription Apps report. 

The report presents performance benchmarks based on data from over 22,000 subscription apps. If you’re a maker building a subscription-based product or are thinking of introducing one, here’s a quick summary of the findings, which might tell you how you stack up against the competition and what you need to do to catch up.  

• Less than 2% of app downloads convert to paid subscribers.

• For apps with trials, 3.7% of app downloads start a trial, and 38% of those trials convert to paid subscribers. BUT, for top apps, 60%+ of trials convert to paid subscribers. 

• Renewal rates jump 12% by the 3rd renewal for weekly subscriptions.

The report covers much more, including case studies and stats from popular brands, actionable insights, and advice from industry-specific experts. Take a look and let us know what numbers surprised you most. 

P.S.: HBO, if you’re reading this, don’t get any ideas. Succession comes back soon.

• Zette’s browser extension gives you access to paywalled articles while sharing revenue with newsrooms.

• Google launched AI Test Kitchen, an app where people can learn about, experience, and give feedback on Google’s emerging AI technology.

• BillSplit lets you split bills with colleagues on Slack.

• The Align mobile app focuses on seven key areas to improve your mental well-being: food, sleep, environment, relationships, lifestyle, mindset, and purpose. 

• Aaply is a mobile design tool that helps you work out the logic of the mobile app, plan flows, design wireframes, and move to the final UI stage.

• Freelance makers, Cakedesk is an invoicing app for Windows and macOS that lets you create invoices, proposals, and manage clients.

• Need a rec for a lawyer, accountant, marketing agency, design firm, or nanny for parent founders? FounderRecs is “the Yelp for startup services.”