GP+Bullhound+消费者订阅软件报告2022

The information in this report is intended for professional investors only; important disclosures appear at the back of this report.GP Bullhound Corporate Finance Ltd and GP Bullhound Asset Management Limited are authorised and regulated by the Financial Conduct Authority.GP Bullhound Inc is a member of FINRA.GP Bullhound Luxembourg Sàrl is authorised as an AIFM in Luxembourg by the Commission de Surveillance du Secteur FinancierSeptember 2022ConsumerSubscriptionSoftwareThe evolution of CSSGP Bullhound Global Insights2The view from GP BullhoundGP BULLHOUND INSIGHTSThe CSS ecosystem continues to mature as consumers demand high-quality digital services and entrepreneurs continue to integrate user generated content, social and sensor features to drive value and increase organic interest and retention.”Eric Crowley, Partner, Investment BankingWe believe that the CSS business model enables companies to rapidly scale with attractive margins while also providing a compelling consumer value proposition. We are excited to help guide CSS companies through the next chapter of their evolution.”Alec Dafferner, Partner, Investment BankingTable of contentsGP Bullhound’s CSS Index, the first to track how public CSS companies are valued, underscores the market turbulence. M&A and private financing remain robustKey CSS insights Community drives winner takes all dynamics while entrepreneurs begin to shift away from App store payments. Data highlight retention rates across different app types while Web3 encroaches on CSS appsExpert views from company builders What CSS leaders and investors have to say about the ecosystem, their business environment, and what they expect for the future CSS metrics to watchEntertainment sees strong growth users, Fitness / Recreation lead in converting to paid users, EdTech is in the hybrid classroom, and Family / Dating see uptick in use What investors focus on and the key nuances: Enterprise SaaS vs. consumer subscription, and the six key bench markers Getting the fundamentals right: insights taken from our previous reports and still relevant todayPast CSS insightsCurrent CSS ecosystemMarket updateA leading technology advisory and investment firm, providing investment banking and transaction advisory services and venture capital investmentAbout usBCACONSUMER SUBSCRIPTION SOFTWARE – THE VIEW4818263238433The view from GP Bullhound Investment ManagementGP BULLHOUND INSIGHTSCONSUMER SUBSCRIPTION SOFTWARE – THE VIEWTo build your position as a partner with the user, your relationship can't just be transactional. You need to provide a utility that drives engagement over many years and an organic re-activation of users. The subscription model fits perfectly with this use case, but it can be monetised in a variety of ways. Amazon Prime, Netflix, Spotify, Strava, Vivino, YouTube, Whoop, and Patreon are examples of this.”Joakim Dal, Partner, Investment ManagementINVESTMENT BYFund IVINVESTMENT BYFund IVINVESTMENT BYFund IIIINVESTMENT BYFund I