Does Amazon want to get into banking next?

Does Amazon want to get into banking next? In this week’s subscription roundup, our main feature highlights an interesting story coming from e-commerce giant Amazon. According to reports, Amazon is in discussion with some banks and financial services companies about developing an Amazon-branded current account. Is this just speculation or is Jeff Bezos going to surprise us again? We also feature Cerillion’s annual subscription trends report which looks at the key subscription trends expected to play out in 2018. Next up, we look at an interesting report which focuses on the increasing adoption of subscriptions in the automobile industry. We wrap up this week’s subscription roundup with a report on Netflix’s new partnership with Sky.

Bank of Amazon – coming soon?

Is there any industry which Jeff Bezos doesn’t want to rule? After entering e-commerce, cloud services and even healthcare, Amazon seems to have its sights set on the banking industry. The company is reportedly in discussions with JP Morgan Chase, Capital One and some other financial services companies about the possibility of an Amazon current account. However, these talks are at a very initial stage and no company involved in the process has confirmed any development. Of course, all of Amazon’s efforts are usually geared around delivering value-added services to its customers. Using Amazon branded bank accounts, customers could pay for books, groceries and even Amazon Prime subscriptions.

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Top five subscription business trends for 2018

Businesses are increasingly moving towards subscription-based business models. Customers now understand that they do not necessarily need to own the products they use, and that subscribing to these is often a better alternative. A lot of industries such as media & publishing are dominated by subscription businesses, and other industries are also ripe for disruption. Here’s our analysis of where the subscription industry is heading this year.

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Will you subscribe to your next car?

Last year, we saw a bevy of automobile businesses adopting the subscription model. Porsche, Volvo, BMW and Mercedes-Benz, among others, have started moving away from traditional retail models and offering more flexible buying options for their customers. Subscription models typically offer more flexibility than a long-term lease, which is facing pressure from convenient and inexpensive ride-hailing services like Uber and Lyft. Automakers are hoping that the subscription model will help them generate more business and retain customers amidst dwindling sales. In fact, 2017 saw the first decline in vehicle sales in eight years.

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Netflix partners with Sky, also adds new features

Subscription giant Netflix has entered into a content-sharing deal with Europe-based broadcaster Sky. The agreement will allow Sky subscribers access to Netflix’s content under a new entertainment pack on its pay TV service, Sky Q. The service will be available in the UK and Ireland later this year, and will then be rolled out to other European nations. This move underlines Netflix’s growing dominance in the streaming space. In addition, Netflix will also add new features such as video previews and better parental controls to further engage its subscribers.

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Also read: Formula 1 launches Grand Prix subscription service F1 TV
 


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