Member and Subscriber Renewals Are Down – But Don’t Panic Just Yet (DATA)

Here's what organizations need to know about the shifting behaviors and preferences of members and subscribers.

Data from IMPACTS Experience regarding 224 cultural entities in the United States suggests that membership renewal rates are down approximately 25% when compared to the pre-pandemic year 2019. While frustrating for organizations, this happening may not be altogether surprising: After all, the nation is still grappling with a global pandemic, many institutions suffered some amount of closure or capacity limits, children remain unvaccinated, and the future of the virus remains uncertain. Needless to say, these factors influenced membership renewals in 2020 and...