Subscription Economy Index™

The Latest Edition of the Subscription Economy Index™ Shows Continued Growth

About This Report

The latest edition of the annual Subscription Economy Index™ (SEI), Zuora’s Subscribed Institute’s landmark index tracking the rapid ascent of the Subscription Economy, reflects the growth metrics of hundreds of companies around the world in sectors including SaaS, Media, and Manufacturing. This edition of the SEI (as of March 2023) features new data from the 12 months ending December 31, 2022.

Watch the Subscription Economy Outlook on-demand webinar where Zuora + Deloitte reviewed the findings!

What the report uncovers:

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Webinar On-Demand

2023 Subscription Economy Outlook

This webinar dives into the latest edition of the Subscription Economy Index, reflecting the growth metrics of hundreds of companies across the world, including trends in SaaS, Media and Manufacturing.

The Subscription Economy Index™ vs S&P 500 & U.S. Retail Sales

In 2022, the world economy was characterized by uncertainty and concerns about inflation, supply chain disruptions, and a potential global economic slowdown due to geopolitical tensions and the continued threat of COVID-19 variants. Recurring revenue business models have historically provided stability during these turbulent times. Over the past 11 years, subscription-based companies in the SEI have grown 3.7x faster than the companies in the S&P 500, which have historically represented more traditional, product-based businesses. Specifically, the compound annual growth rate (CAGR) for SEI companies was 17%, compared to 4.6% for S&P 500 over the same period.

SaaS Sector Growth

SaaS continues to be the fastest-growing sector in the SEI, with both business-to-consumer (B2C) and business-to-business (B2B) SaaS driving growth.

Media Sector Growth

In the past year, media subscription momentum (both in the SEI and beyond) suggests that even after 2020 shelter-in-place orders were lifted, many consumers maintained their new media subscriptions.

Manufacturing Sector Growth

Connected services are continuing to fuel the growth of the manufacturing sector as companies look to complement physical products with innovative offerings. Traditional manufacturers in the S&P 500 Industrials Sector experienced increased demand in 2021 after the 2020 pandemic dip, but SEI Manufacturing businesses also continued to grow.