FROM OWNERSHIP TO SUBSCRIPTION: FINANCIAL MARKETS, RECURRING REVENUE, AND THE EROSION OF HOUSEHOLD WEALTH

The subscription business model has evolved from an alternative price point into the norm by which whole sectors transact with end-users for their products across software, entertainment, transport, fashion, and everyday consumer goods. This paper poses a more focused question than most discussions about the subscription economy do: not the convenience of subscription services, but rather whether the economic calculus behind the appeal of recurring revenue to companies and their shareholders is also the calculation that works to the advantage of households paying for it.