Luminary launches podcast subscription service

Luminary launches podcast subscription service There is a subscription service for almost everything – so how could podcasts be far behind? A startup called Luminary is now trying to disrupt podcasting through the subscription model. Will audiophiles lap up the offering? Luminary’s new service is our main highlight in this week’s subscription roundup. In other news, Netflix is all set to fuel its content spending by raising $2 billion in debt. Meanwhile, Amazon Prime continues to add new features with a new in-garage delivery service. In addition, car rental giant Enterprise has launched its own subscription service. We also see how subscriptions are increasingly taking the financial services industry by storm. And finally, we look at how subscription fatigue is becoming a growing problem for the industry.

Luminary is trying to become the ‘Netflix for Podcasts’

While there are many subscription services for video and music, it is surprising there haven’t yet been any subscriptions solely focused on podcasts. Now, Luminary is trying to buck the trend through a new podcast service that costs $7.99 per month featuring premium content. Podcasts have traditionally been heavily dependent on ads to sustain their growth. Will consumers pay separately for podcasts when they are already available across leading music streaming platforms? 
 
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Netflix to raise $2 million in debt to fuel their content spending

Netflix is not known to skimp on money when it comes to spending on its content and the subscription giant is now raising $2 million in debt for their content and other expenses. The funds will be raised through unsecured notes in two series in both US Dollars and Euros. Netflix is already expected to hit $15 billion with its content budget this year. The platform’s emphasis on original content has given it a big lead in the video streaming space.
 
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Amazon launches in-garage delivery

Amazon has launched its in-garage delivery program – Key for Garage – for Amazon Prime in 50 cities across the US. The delivery person uses the Amazon App to verify the recipient and location and gets brief access inside the garage to drop the package. Amazon already has other Key delivery options for in-home delivery and in-car delivery. Amazon also sells adapters for garage doors lacking the proper technology to support the service.
 
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Car rental company Enterprise launches new subscription service

Enterprise Holdings, the car rental giant, has announced plans to launch a car subscription service. Customers can subscribe to the plan and choose from six different vehicle classes covering more than 20 makes and models. However, the pricing has not been announced yet. Many of the leading automobile giants such as Porsche, Volvo, BMW and Mercedes-Benz already offer car subscription services.
 
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Subscriptions coming to financial services

According to a new report from EY, financial services could be delivered via subscriptions in the future. The subscription model will involve an annual recurring fee that will cover products and services associated with different life events as well as a financial health monitor. Consumers would be offered curated access and concierge services related to accountants and attorneys, among other services.
 
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Subscription fatigue plagues the video streaming industry

Deloitte’s annual Digital Media Trends survey has revealed that 47% of customers in the US are frustrated with the rise in the number of video streaming options. There are now more than 300 streaming providers in the US alone, making it extremely difficult for customers to pick their subscription service of choice. The average US consumer subscribes to three SVOD services.
 
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Also read: Netflix now makes up 30% of global video streaming subscriptions