An annual membership is a subscription model where individuals pay a fee once a year to access specific services or benefits. This type of membership is commonly offered by organizations such as gyms, clubs, and online platforms, providing members with exclusive perks like discounts, special events, or unlimited access to facilities. Members typically enjoy cost savings compared to monthly payments, as annual memberships often come with a lower overall price. Additionally, these memberships can encourage commitment, as members are more likely to utilize the services throughout the year, enhancing their experience with the organization or service.