subscription

Vocabulary Word

Definition

A 'subscription' is a periodic payment for a product or service. It can be weekly, monthly, or annually. Like a recurring fee for a gym or an academic journal.

Examples in Different Contexts

In the media industry, 'subscription' models fund content production. An editor might state, 'Our magazine's subscription revenues support in-depth journalistic investigations and quality reporting.'

Practice Scenarios

Business

Scenario:

We need to think about our revenue model. A lot of companies seem to be moving from one-time purchases to other models

Response:

I agree. Maybe a subscription model could provide a more regular revenue stream and improve customer engagement.

Tech

Scenario:

We need a reliable and updated tool for our project management. It's frustrating to manage these tasks manually.

Response:

Let's invest in a subscription to a reliable project management software. Then we'll have access to all updates and dedicated support.