(Image Courtesy of The Blue Diamond Gallery)
Digital subscriptions have seeped their way into every aspect of modern life. From music and streaming services to news and social media platforms, it can be exhausting navigating the digital space. How are these subscription drawbacks affecting students? Is there any upside?
Several industries have been impacted by the recent rise of the digital subscription model. These platforms typically operate on a monthly subscription basis, allowing users to gain access to an abundance of content or features. There are several reasons why businesses are choosing to adopt digital subscriptions. News outlets have adopted the subscription model to address the ad revenue problem – where user experiences were negatively affected by the amount of advertisements shown, leading readers to either stop visiting the website or begin using ad-blocking extensions.
Consumers have taken notice of this rise. One survey found that 30% of respondents said digital subscriptions are “up a lot.” They’re right. From 2012 to 2020, the SEI, an index that measures the growth of companies that utilize subscription services, grew by more than 435 percent.
These upticks have created subscription fatigue among consumers. The cost of owning multiple subscriptions, using each service less frequently as new services are introduced and managing multiple subscription cancellations has become overwhelming. So, why do people keep paying for and acquiring digital subscriptions?
Easy sign-up, free trials and low upfront fees lure customers to these subscriptions. Once subscribed, users may fall for the sunk cost fallacy, continuing to pay for the subscription even when doing so doesn’t make sense anymore.
Students at the University of Colorado Boulder have seen the digital subscription model enter their classrooms. The CU Book Access program costs $269 per semester and is integrated into Canvas under the “My Course Materials” tab. RedShelf, the company behind the CU Book Access program, says students can access their books after their course ends, though some access may expire unless the book is marked with lifetime access.
So, are there any benefits to the CU Book access program and digital subscriptions overall? The CU Book Access program claims that the predictable and low costs benefit students, along with the reduction in waste from physical textbooks. However, the biggest direct benefit of subscription services is the convenience of access. The user is given immediate access, can typically access the platform from a variety of devices and has peace of mind knowing that they will not have to lug around a textbook everywhere.
There are, however, drawbacks to the CU Book Access program. Some professors choose not to make use of the program. Research suggests comprehension is up to eight times better with physical books, and students are unable to resell their books to recuperate some of the losses on their investment.
Weighing the benefits of a low entry cost, convenience and environmental benefits against the downsides of digital subscriptions can be difficult. Since digital subscription services are unlikely to go away anytime soon, it’s important to assess your subscriptions frequently. Before you buy, try to be more conscious of your digital spending.
Contact CU Independent Staff Writer Atticus Kennedy at atticus.kennedy@colorado.edu
