Check out the LinkedIn page of Logos CEO, Bill McCarthy:https://www.linkedin.com/in/mccarthy-bill/details/experience/
I’ve cut-paste below
Here it is…
Evolving the Logos Bible study platform to SaaS to deliver a more accessible fusion of biblical content and powerful technology to the next generation of pastors, academics, and laity worldwide.
Two key words: “evolving” and “SaaS” (short for "Software as a Service"; aka subscription model).
My dear Forum friends: The new CEO was brought in by the new Private Equity owner to introduce subscription model slowly (hence the word “evolving”). They might offer one-time purchase initially, but it will be phased out soon after which only subscription will be available. They just couldn't introduce subscription model without a ruse, otherwise customers will raise hell. AI is just a ruse that “necessitates” subscription. Bottom line: we have bullcrap motivation for subscription. What is the true motivation? See below.
Logos is a virtual monopoly with many Bible software companies having gone extinct. Its customers are trapped. The Private Equity owner knows it and that is why they bought Logos and that is why they would have paid a high price and that is why the founders took the offer. It is now time for the Private Equity owner to squeeze every last drop of orange juice from the orange, and subscription model is a way to extract every drop of profits. Go read the scholarly literature (or simply Google it) on what Private Equity does after they buy a firm.
In a perfectly competitive market, the subscription price will have to match the cost + normal profits. If they didn’t charge a fair price, customers will leave to a competitor. In a monopolistic situation that we are facing, no customer is able to leave for a competitor bcos no good one exists and it is too costly to switch even if a good competitor existed.
Pray for viable competitors, otherwise we are screwed.
I know Mark Barnes has said “look at our history of doing what is correct”. Well, let’s think about when it is ok to use the history to forecast the future. This is going to be common sense: We use the history of X to forecast what X will look like in the future when the factors affecting X in the past remain the same in the future. The truth is “factors affecting X” have changed. 2 things specifically: (i) Logos doesn’t have viable competitors as it did in the past. (ii) New Private Equity owner who is going to put the screw on. So NO rational being should use the history of Logos to forecast the future of Logos.
Again, Pray for viable competitors, otherwise we are screwed.
