Toyota plans car subscription service in Japan

Toyota plans car subscription service in Japan Automobile companies love the subscription model, and it’s clearly evident with the bevy of companies which have already launched such plans for their customers. In this week’s subscription roundup, we look at Toyota which has become the newest automaker to adopt the subscription model to explore new business opportunities. From cars we move to ride-sharing, as Uber has followed in the footsteps of competitor Lyft by launching its own subscription plan. Next, we examine Spotify’s third quarter report, followed by a new industry report on subscription video app spend.
 
Toyota becomes first Japanese carmaker to launch subscription service
 
Toyota Motors is planning to launch a new car subscription service in Japan next year. The service will allow customers to try various car models for a fixed recurring fee. The new offering is part of Toyota’s effort to move away from car sales alone and look at other growth opportunities. Toyota follows automakers such as Mercedes Benz, Porsche and Volvo all of which have launched their own subscription plans.
 
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Uber introduces monthly subscription plan - RidePass
 
Hot on the heels of its arch rival Lyft, ride-hailing service Uber has introduced a new subscription service called RidePass. The $14.99 monthly plans will allow users to lock in flat, discounted rates for UberX and UberPool trips which will allow users to save around 15% on their monthly travel. In addition, RidePass fares won’t be subject to surge pricing or other external factors. Subscribers will also be able to take unlimited rides with Uber RidePass.
 
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Spotify sees a modest 5% rise in paid subscribers in Q3
 
Music streaming service, Spotify, reported a modest 5% growth in premium subscribers last quarter. The revenue and growth margins were also in line with market expectations. Spotify’s monthly subscribers now stands at 87 million, up from 83 million, with a total user base of 191 million, including free ad-supported accounts. Spotify’s muted report stands in contrast to the latest FutureSource consulting market report which predicts a rise in subscriptions for music streaming services by the end of this year.
 
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US Customers spent $329 million on video streaming apps in Q3
 
US consumers simply cannot live without their video streaming services. They spent around $329 million on the top 10 Subscription Video-on-Demand (SVOD) apps on the App Store and Play Store in Q3, up 15% on the Q1 figures. Compared with the same period last year, this represents a healthy increase of 43%. As expected, Netflix is at the top of the pile with an estimated $132 million of customer spending dedicated towards the platform.
 
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Also read: Apple’s subscription video streaming service may launch sooner than expected
 
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