The decision comes as tech companies increasingly rely on consumer subscriptions, with major players like Microsoft and Amazon seeing significant growth in their subscription offerings. However, the article also notes that subscription services are often the first to be cut when consumers need to reduce their monthly expenses. Only 19% of consumers would prioritize paying their membership subscription bills in full over other bills, according to a study by PYMNTS Intelligence.
Key takeaways:
- OpenAI has temporarily halted new signups for its ChatGPT Plus program due to a surge in demand that exceeded the platform's capacity.
- The spike in demand followed the announcement of new features at OpenAI's developer conference, DevDay, including the new GPT-4 Turbo AI model.
- CEO Sam Altman has indicated plans to share a portion of the ChatGPT subscription revenue with creators who use the GPTs they have made.
- The trend of increasing reliance on paid subscriptions is prevalent across the tech industry, but consumers are quick to cut these when budgeting, with only 19% prioritizing membership subscription bills.