{"id":655685,"date":"2024-11-21T00:00:00","date_gmt":"2024-11-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/the-new-cost-of-ownership\/"},"modified":"2024-11-21T00:00:00","modified_gmt":"2024-11-21T00:00:00","slug":"the-new-cost-of-ownership","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/the-new-cost-of-ownership\/","title":{"rendered":"The new cost of ownership"},"content":{"rendered":"

Subscription-based models have taken over the business world. <\/strong>The Subscription Economy Index (SEI), which tracks the performance of companies that offer subscription-based services, reported in 2023 that the subscription economy had grown<\/a> by 435% since 2012, at 3.7 times the rate of companies in the S&P 500, which predominantly comprises traditional product-based businesses. The subscription economy is expected to reach a market size<\/a> of USD 1.5 tn by 2025.<\/p>\n

(Tap or click the headline above to read this story with all of t<\/strong>he links <\/strong>to external sources.)<\/p>\n

They\u2019ve also taken over our lives.<\/strong> We now pay monthly fees to watch movies, listen to music, and play video games. Depending on the products you use, you might also find yourself paying to use all the features on your sewing machine<\/a>, your toothbrush<\/a>, your fridge<\/a>, or your car<\/a>. <\/p>\n

But we\u2019re losing more than money \u2014 subscriptions are changing our relationship with <\/strong>the things we use and rely on in a dangerous way.<\/strong> Now, consumers are expected to buy an expensive physical product and then keep paying to use it. Perhaps the most egregious culprit is HP, whose printers now simply do not function without an ongoing subscription to Instant Ink, their refill service, even with full ink cartridges. If the owner\u2019s payment method expires or the printer loses network connectivity, HP remotely bricks your device.<\/p>\n

If what you bought can be legally taken away from you at the whim of the company, you <\/strong>don\u2019t own the product, you\u2019re licensing it.<\/strong> Cough, Microsoft Office, Playstation and Ubisoft<\/a>, cough.<\/p>\n

But to point the finger at any one company, we\u2019d have to go back to the 15th century.<\/strong> The subscription model has been around at least<\/a> since the invention of the printing press. People interested in regularly receiving issues from newspapers or magazines signed up by writing their initials at the bottom of an agreement document. In fact, that\u2019s where the term<\/a> subscribe \u2014 sub (under), scribe (write) \u2014 comes from. By entering this agreement, the publisher earned customer loyalty, and therefore a predictable steady revenue, and in return offered their customers a convenience and\/or extra value. In this case, it was the latest issue being delivered to their doorstep.<\/p>\n

Media subscriptions as we know them were born in 1948. <\/strong>Cable TV offered paying customers higher quality signals at an affordable price. But people were bound to TV programming. In 1997, Netflix was born, and extended that concept to on-demand media. Going an extra step beyond video rental stores, Netflix offered their customers free doorstep delivery and no late fees. When they relaunched as a streaming service in 2007, they provided an invaluable service \u2014 unlimited movies and TV shows on demand that you don\u2019t have to store or return, all for an affordable monthly fee. And through the 2000s and early 2010s, the balance of consumer convenience and monthly fees held.<\/p>\n

So how did we get here?<\/strong> The new category of subscriptions where we pay to keep using something we already own all started with Salesforce<\/a>. What kind of software they sold isn\u2019t important \u2014 it\u2019s how they sold it. Since the introduction of purchasable software, if you wanted to install it, you\u2019d buy a CD-ROM and use it for as long as you\u2019d like. Back then, technology was advancing so rapidly that new versions of the software would be released each year with a ton of new features, prompting existing customers to shell out for newer updates. <\/p>\n

And then, in 1999, Salesforce pioneered downloadable or cloud-based software.<\/strong> No manual install, no big upfront costs for software that would be obsolete in a few years \u2014 just a small monthly fee, and you\u2019d always have the latest version. Software was no longer<\/a> a product that you buy in a box, it was a service that you paid a monthly fee to use.<\/p>\n

It was a huge success.<\/strong> Salesforce went public in 2004 and was the top performing<\/a> IPO of the year. And everyone followed suit. In 2010, Microsoft launched Office 365, the Office suite to a subscription-based offering. Since then, Microsoft has seen a 187%<\/a> increase in revenue, from USD 73.7 bn in 2012 to USD 211.9 bn in 2023, much of which was driven by cloud and subscription services. Adobe went subscription-only with Creative Cloud in 2013. Most people still consider Apple a products company, but lately, their fastest growing revenue stream is their USD 25 bn<\/a> subscriptions unit, which grew 12% last year.<\/p>\n

But people are sick and tired of having to pay subscriptions for everything, <\/strong>says<\/a> the Wall Street Journal. Well, we assume \u2014 the WSJ article is locked behind a subscription paywall. Investors love software as a service, but where\u2019s the customer value? Today, Adobe Photoshop costs USD 276<\/a> a year, which is a cheaper upfront cost than the USD 600<\/a> you would have paid for in 1990, but in less than two years, you will have exceeded the cost of software that you would have only needed to upgrade every 2-3 years.<\/p>\n

What additional value are you getting for the increased cost? Not much. <\/strong>The software isn\u2019t really improving drastically enough to warrant a continuous payment. Word also hasn\u2019t evolved that much<\/a> since 2006 except for a few stylistic changes. RIP Clippy<\/a>. \u201cOver time, companies have seen this as a new way to squeeze some extra money out of consumers,\u201d law professor Aaron Perzanowski told<\/a> More Perfect Union.<\/p>\n

And so, subscriptions crawled out of our screens and into our physical belongings.<\/strong> \u201cIt became really cheap to introduce network connectivity and embedded software into devices,\u201d said Perzanowski. \u201cSo we see all sorts of things that don\u2019t really need software, that don\u2019t really need a WiFi connection, that now have them.\u201d<\/p>\n

When manufacturers advertise smart products, the software is a selling point, promising <\/strong>all sorts of flashy features.<\/strong> But smart appliances have shorter lifespans<\/a> than regular \u201cdumb\u201d ones, and turns out people don\u2019t even use<\/a> all those fancy features. Plus, software gets buggy and needs a lot of maintenance. If you\u2019re relying on something important and the software glitches, it\u2019s actually making our lives less safe, less durable, and weirdly hostile.<\/p>\n

All by design.<\/strong> HP CEO Enrique Lores told CNBC\u2019s Jim Cramer (watch<\/a>, runtime: 7:30) in no uncertain terms that this business model is a shameless cash grab. \u201cOur goal was to reduce the number of what we call \u2018unprofitable customers.\u2019 Because every time a customer buys a printer, it\u2019s an investment for us. And if this customer doesn\u2019t print enough or doesn\u2019t use our supplies, it\u2019s a bad investment.\u201d By Lores\u2019 admission, subscriptions hope to make money off of you just because you own their product. \u201cThose kinds of subscription offerings aren\u2019t adding new value,\u201d says Perzanowski. \u201cThey\u2019re imposing a tax on using the things that we [have] already paid for.\u201d<\/p>\n

Computer everything: <\/strong>Section 1201 of the US Digital Millennium Copyright Act (DMCA) was passed in 1998 to prevent piracy, and it applies to anything with a computer in it. When the law passed, that meant PCs and DVDs, but now it\u2019s everything we own. And companies use copyright as the legal covering to lock us out of our own stuff.<\/p>\n

You\u2019re not paying for convenience anymore, you\u2019re paying to not get inconvenienced. <\/strong>Subscription-based companies don\u2019t care how miserable<\/a> our experiences are as long as they make a profit. Now, companies don\u2019t have to earn our loyalty to get that predictable revenue, they can just force it with their software locks, legally protected by our outdated copyright laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

Subscription fees have taken over our lives<\/p>\n","protected":false},"author":1,"featured_media":655686,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8908],"tags":[633,134,8907],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-655685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spending-it","tag-enterprisepm","tag-ever-given","tag-spending-it","wpautop","entry"],"acf":{"mongo_id":"03491912-a975-4440-97ce-dffa03201208","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1876.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[655668],"teaser":"Subscription fees have taken over our lives","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.c0b09a86-611f-49e1-a718-af0d366d2805.mp3"},"yoast_head":"\nThe new cost of ownership - 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Bookrunner Prime Holding is expected to finish the placement of at least EGP 37 mn worth of shares with institutional investors this week, while\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/471.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556046,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/retail-subscription-period-for-e-finances-ipo-kicks-off\/","url_meta":{"origin":655685,"position":1},"title":"Retail subscription period for e-Finance\u2019s IPO kicks off","author":"enterpriseam admin","date":"10 October 2021","format":false,"excerpt":"The subscription period for the retail offering of 1.61% of e-finance (25.78 mn shares) will begin today and run until the close of the trading session on Sunday, 17 October, according to its public subscription notice (PSN). e-Finance is expected to announce on Tuesday, 12 October how it will price\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593412,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/rameda-prices-its-ipo-at-egp-4-66-per-share\/","url_meta":{"origin":655685,"position":2},"title":"Rameda prices its IPO at EGP 4.66 per share","author":"enterpriseam admin","date":"27 November 2019","format":false,"excerpt":"IPO WATCH- Rameda has priced its IPO at EGP 4.66 per share: Rameda Pharma has announced (pdf) that it will offer 376,606,000 shares at a price of EGP 4.66 per ordinary share in an initial public offering on the EGX. The Arabic-language public subscription notice (PSN) to local investors is\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593462,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/fra-gives-rameda-green-light-on-public-subscription-notice\/","url_meta":{"origin":655685,"position":3},"title":"FRA gives Rameda green light on public subscription notice","author":"enterpriseam admin","date":"28 November 2019","format":false,"excerpt":"IPO WATCH- Market regulator gives Rameda green light on public subscription notice: The Financial Regulatory Authority (FRA) has approved Rameda Pharma\u2019s public subscription notice (pdf) to local investors for its initial public offering on the EGX, according to a statement to the bourse (pdf). Rameda has announced (pdf) that it\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/626.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591900,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/planning-ministry-kicks-off-public-subscription-for-investment-charity-fund-for-education\/","url_meta":{"origin":655685,"position":4},"title":"Planning Ministry kicks off public subscription for Investment Charity Fund for Education","author":"enterpriseam admin","date":"19 December 2019","format":false,"excerpt":"State-owned investment bank NI Capital has kicked off the public subscription period for the National Investment Charity Fund for Education, the Planning Ministry said in a statement. The fund will issue instruments worth EGP 100 each, with investors allowed to hold as little as a single certificate. The fund\u2019s proceeds\u2026","rel":"","context":"In "Health + Education"","block_context":{"text":"Health + Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/health-education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594566,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/efg-receives-egp-450-mn-subscription-requests-for-mazid-fund\/","url_meta":{"origin":655685,"position":5},"title":"EFG receives EGP 450 mn subscription requests for \u201cMazid\u201d fund","author":"enterpriseam admin","date":"1 September 2019","format":false,"excerpt":"Our friends at EFG Hermes have received EGP 450 mn-worth of subscription applications for investment certificates issued by the \u201cMazid\u201d open-ended money market fund, head of asset management at EFG Nabil Moussa said. The firm accepted EGP 250 mn-worth of applications for the fund, which it manages for Emirates NBD.\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=655685"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655685\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/655668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/655686"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=655685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=655685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=655685"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=655685"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=655685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}