“In 2024, things have probably never been better” — Eric Crowley, GP Bullhound

GP Bullhound's 2024 Consumer Subscription Software (CSS) Report highlights the recent recovery and innovation within the CSS app industry following a period of stagnation. The report discusses how some companies, like the female health-tracking app Flo, have successfully maneuvered through challenges by adopting strategic pivots, such as Flo's freemium model that nurtures users through various life stages, resulting in impressive user engagement and financial growth. Eric Crowley, a report author, suggests that while raising capital isn't necessary for every app business, enhancing net revenue retention through one-time purchases and add-ons, akin to Tinder's superlikes, can be beneficial. The report also draws parallels between app development and Maslow's hierarchy of needs, emphasizing the importance of aligning app features with the human needs they aim to fulfill, such as incorporating community functions for love and belonging or leaderboards for esteem. For a deeper dive into these insights and more, the full report is available on GP Bullhound's website, and additional discussions can be found on the Sub Club Podcast.