© Illustration by Aurélie Garnier
Most publishers know their own churn rate, trial conversion and win-back numbers, but have little to compare them with. Recurly’s 2026 State of Subscriptions report helps fill that gap. It analyses 2,200 subscription businesses and 76 million unique subscriptions on its billing platform between 2021 and 2025, combined with a consumer survey.
The report covers all subscription sectors, from software to retail, but it includes separate figures for Publishing and for Digital media and entertainment. Here are the data points that matter most for publishers, and what to do with them.
Key takeaways to copy & share
> Not using it, more than price, is the top reason people cancel: 51% say they weren't using it enough, against 45% for price. Engagement after the sale is your strongest retention lever > Publishing is one of the steadiest sectors. Subscribers grew 23.4% in 2025, almost twice the 12.6% average, and monthly churn held at 3.3%, against 5.5% in digital media and entertainment > Free trial conversion fell from 47% to 34% in four years. Short paid passes now convert 13% of buyers into recurring subscribers, and longer passes do better than ultra-short, low-cost ones > Offering a pause before cancelling increased pauses by 337%, and 3 in 4 subscribers who paused came back. Plan unpause reminders for February to April, when unpause rates peak > Nearly 1 in 4 new subscriptions comes from a former subscriber. Ask why people leave, segment them by reason and what they used to read, and build win-back campaigns around it
The market: slower growth, but Publishing is doing well
