eDreams ODIGEO announced that its Prime subscription service has surpassed 5 million subscribers, after adding 1.7 million new members in the last year alone. The significant achievement in subscriber growth further solidifies the programme’s position as the world’s largest travel subscription platform and one of the leading membership programmes across industries.
Beyond sheer member volumes, Prime outpaces other platforms in terms of growth rates. Growth analysis of prominent subscription platforms over the past five fiscal years, aligning with the period during which Prime has been in operation, reveals that eDreams Prime has delivered the highest compound annual growth rate, reaching a remarkable 220%.
Prime is currently available in 10 of the 44 countries in which eDreams ODIGEO operates its travel booking platforms, indicating significant potential for expansion and future growth.
The revolution of the subscription model in travel
eDreams Prime, first launched in 2017, is the global pioneer of travel subscription platforms. Prime grants consumers exclusive access to a plethora of members-only deals, offers, and discounts across various travel products and services, ranging from flights and accommodations to package holidays and car rentals. As members, consumers have access to 24/7 priority customer service and can relish in the full benefits of the Prime program from their very first booking, free from any limitations on itineraries, travel dates, providers, or number of bookings. This unparalleled flexibility empowers travellers with an extensive array of choices. For instance, Prime facilitates access to billions of flight combinations, combining options from nearly 700 global airlines. Additionally, Prime members can secure discounted rates on the 2.1 million accommodation options offered by eDreams ODIGEO brands, along with thousands of car rental choices.
The success of Prime is notably rooted in eDreams ODIGEO’s technology capabilities, enabling consumer choice, value and convenience through the delivery of fully personalised travel experiences to its members. The company’s cutting-edge AI-powered platform empowers Prime with the ability to gain insights into members’ unique travel preferences. Leveraging this, Prime excels in crafting tailored and hyper-personalised recommendations, significantly enhancing the travel booking experience for consumers.
Prime is also able to help members make significant cost savings, a key value proposition for consumers, especially in the current macroeconomic context.
The booming success of the subscription economy: Revolutionising business models and consumer experiences
An analysis carried out by eDreams ODIGEO further confirms that the subscription economy is booming. It reveals that the most prominent subscription platforms in the world now have more than a combined 1.5 billion subscribers, compared to just 458 million in 2017, when eDreams Prime was first launched. The growing appeal of subscription services is also evidenced through consumer research. A study conducted with 10,000 shoppers by One Poll found that only 1% of consumers today do not consider themselves subscribers, with cost-effectiveness and convenience being the two main reasons for subscribing across all demographic profiles.
From a business standpoint, the subscription model is transforming the dynamics of brand-consumer engagement, fostering enduring relationships that generate stable and predictable revenue streams, ultimately leading to enhanced business quality. In the last 11 years, the subscription economy has grown at a CAGR of 17%, which is almost 4x faster than traditional businesses. Despite macroeconomic uncertainties, on average an app user holds memberships of 7.7 subscription services incorporating everything from food delivery to video streaming. Subscriptions are becoming the world’s preferred method of commerce because of how effectively these models fulfil customer preferences for more convenient, personalised and cost-effective retail experiences.
Dana Dunne, Chief Executive Officer at eDreams ODIGEO said: “We are incredibly proud of eDreams Prime’s success as the world’s fastest-growing subscription platform. Accompanied by the milestone achievement of surpassing 5 million subscribers, this further solidifies our position as a leading subscription company, reaffirming the success of our strategic approach and business model.
The subscription model has revolutionised consumer engagement, delivering stable and predictable revenue streams while providing exceptional value and personalised recommendations to consumers. It has been a true game-changer for our business, propelling us into a new era of predictability, profitability, and strength. Embracing the subscription model has enabled us to transform our company into a robust and stronger business, leveraging stable and recurring revenue streams with long-lasting customer relationships. This strategic shift not only enhances our ability to cater to customers with personalised offerings but also establishes us as unrivalled leaders in our industry, with an even clearer competitive advantage.
We take pride in offering our Prime members unparalleled benefits, choice, flexibility, and significant cost savings for their travel experiences. As the subscription economy continues to thrive, we remain fully committed to driving innovation and elevating the travel booking experience for consumers.”
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