Despite these kinds of initiatives, additional subsidiary support from the government will be necessary to keep the cultural sector going in the coming period. But the sector would do well to also think about the post-corona period. The question is whether the current revenue models are sufficient to keep cultural companies financially healthy. There may be other, better ways to generate revenue streams and engage the public…
Before I go into the situation within the cultural new zealand telegram data institutions, let's first make a detour to the commercial world. To the world of Netflix, Spotify, Disney, Microsoft, Dollar Shave Club , Salesforce, Nike, HelloFresh and many other companies.
All these organizations have in common that they do not (only) deliver a one-time product or service, but enter into a long-term relationship with the customer, often in the form of a paid membership or subscription. Usually, different versions of this subscription are offered, for example:
Starter (free or low monthly costs)
Medium (middle price range)
Intensive (most extensive functionalities, highest price)
The basis of this model has become known in recent years as recurring revenue , as the income is recurring.
Subscription versus membership
For convenience, I lumped the terms subscription and membership together above. That is not entirely correct. Chris Lema describes a membership as a “notion of belonging, a relational concept”. He gives a frequent flyer program as an example. For many people, this is not just about the hard benefits, but perhaps even more about the status of being part of a group that receives certain exclusive privileges or gifts. (Think of the famous Delft Blue miniature houses from KLM , reserved for World Business Class members.)
A subscription is, in the words of Chris Lema, a “revenue agreement, a financial concept” . In this case, there does not necessarily have to be an emotional connection between the subscriber and the organization, or between the subscribers themselves.
