eDreams Prime delivered a CAGR of 220% over the past five fiscal years
eDreams ODIGEO’s subscription service Prime surpasses 5 million members
European OTA eDreams ODIGEO has announced that its Prime subscription service has surpassed 5 million subscribers.
The news come after it added 1.7 million members in the last year alone. The “significant” achievement in subscriber growth is said to solidify the programme’s position as the “world’s largest travel subscription platform and one of the leading membership programmes across industries”.
Prime outpaced other platforms in terms of growth rates. Growth analysis of prominent subscription platforms over the past five fiscal years, which is the period during which Prime has been in operation, revealed that eDreams Prime has delivered the highest compound annual growth rate, reaching 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.
Further analysis carried out by the company confirms that the “subscription economy is booming”. It revealed that the most prominent subscription platforms in the world have more than a combined 1.5 billion subscribers now, 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.
Dana Dunne, chief executive officer of 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.
“As the subscription economy continues to thrive, we remain fully committed to driving innovation and elevating the travel booking experience for consumers."