A “game-changer” subscription service run by European OTA eDreams Odigeo has surpassed the five million mark after adding 1.7 million new members in the last year.
The eDreams Prime service, launched in 2017, is currently available in ten of the 44 countries in which the company operates its travel booking platforms, indicating “significant potential for expansion and future growth”.
Growth analysis of prominent subscription platforms over the past five financial years, aligning with the period during which Prime has been in operation, show that the service has delivered the highest compound annual growth rate, reaching 220%, according to the OTA .
Chief executive Dana Donne 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 five 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.”
He added: “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.”