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Lots of businesses have and do exist without a subscription model. I'm fond of the Paprika Recipe Manager, for example, which asks a one-time payment for each major version. All commercial software worked this way in the 80s.
Did you notice what you said there each major version. Plex has been rolling releases for years. Maybe they should have done Plex 1 2 etc. yes software has been that way forever but you would pay for a version and then a year later pay for another one. Now people expect to pay once and get upgrades forever.
Because they're called "lifetime passes" voluntarily offered by the company. It seems weird to act like people are being entitled about this or that their $75-$120 one-time payment is meaningless compared to someone who's only paid $5 or worse using it for free.
Sure, I'm not saying Plex has to do a single-payment model. Just that it's a think that's been done successfully (and for longer than Plex has existed). Everyone's pushing subscription models so hard that it's easy to think "this is the only possible way that anything can work".
I wonder how much money Plex still makes through their lifetime purchases. Is it that they were struggling and then made bad business decisions with the aim on increasing revenue (ad supported video on demand)? Or was it the other way around?
In the 80s new systems usually came with new OSs, which required porting software it. Thus a lifetime license was practically limited.
I wouldn't be as opposed to a subscription model if it was cheaper and they focused on their actual core product, not all the other fluff around. 5€/m is a bit much given they don't pay for my bandwidth. And if they didn't store my media info, history etc...
I have no idea how well it works in reality, but I can imagine the Lifetime Pass being a good business model for them: only the most enthusiastic user will pay for 3 years up front (lifetime currently costs 3x the yearly). So when they get a Lifetime pass they're getting 3 years paid up front and an evangelist who will probably tell their friends about Plex. If that Lifetime subscriber gets even one person to sign up for a yearly sub who otherwise wouldn't have, then Plex came out ahead.