A subscription model is a business strategy where customers pay a recurring fee to access a product or service. This model is commonly used by companies like Netflix and Spotify, allowing users to enjoy a wide range of content without needing to purchase each item individually. Subscriptions can be monthly, quarterly, or annual, providing flexibility for both the business and the customer. This approach benefits businesses by creating a steady revenue stream and fostering customer loyalty. For consumers, it often means lower upfront costs and the convenience of having continuous access to their favorite products, whether it's software, magazines, or streaming services.