Sub Club by RevenueCat · 2024-11-27
How V1 Sports Doubled Revenue with Bold Bets — Alex Prasad, V1 Sports
Alex Prasad, CEO of V1 Sports (golf swing video analysis; ~30% share of North American golf instructors), on restarting consumer growth. V1 dropped freemium for a free trial and made long-time free users pay (no grandfathering), while keeping student-coach interaction free. Despite a wave of one-star reviews, revenue grew 80-90% in 12 months. A 'why are you here?' onboarding question showed 10-15% of new users want a coach, and they subscribe more. Also covers wargaming imaginary customer conversations, keeping entry price low for lifetime value, and competing on execution.
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Numbers mentioned
| Who | Metric | Value | Context | When |
|---|---|---|---|---|
| V1 Sports | share | 30% approximate | Market share among golf instructors in North America (B2B side) | 2:05 |
| V1 Sports | retention | 85–89% approximate | B2B (instructor) retention, 'high-80s percent' | 3:50 |
| V1 Sports | acv | increasing approximate | B2B annual contract values rising while market share stays ~30% | 5:09 |
| V1 Sports | users | 3–4 x approximate | Free monthly active users vs paid users (consumer app) | 12:56 |
| V1 Sports | share | 33% approximate | Share of new registered consumer users who come through an instructor (pro) relationship; the other ~3/4 arrive without one | 12:56 |
| V1 Sports | growth rate | +80–90%/year approximate | Revenue growth in the 12 months after switching from freemium to free trial | 21:36 |
| V1 Sports | growth rate | +100% approximate | Title/description figure; body says 80-90% in 12 months | 21:36 |
| V1 Sports | new customers | about 10 subscribed for every 4 who complained estimate | Guest's pre-switch bet on subscribers vs complaining long-time free users, which he says is basically what happened | 17:36 |
| V1 Sports | price | USD 60 approximate | What long-time free users had to pay after the switch (as described by the guest) | 17:36 |
| V1 Sports | price | USD 70/year | Golf+ consumer subscription, current price | 45:54 |
| V1 Sports | price | USD 80/year approximate | Host's figure for the subscription; conflicts with the guest's $70/year and was not addressed | 48:10 |
| V1 Sports | share | 10–15% approximate | Share of new registered users (hundreds per week) who say in onboarding that they want to find a coach | 40:51 |
| V1 Sports | time in app | 21 minutesper monthly active user /month approximate | Average time in app per monthly active user | 27:12 |
| V1 Sports | users | 100K users approximate | Monthly active users at the summer peak ('almost 100,000') | 56:15 |
| Flo | retention | 60% approximate | Year-one revenue retention for a cohort, which then rises year after year as users upgrade and buy more (net revenue retention) | 53:12 |
| Flo | valuation | USD 1,000M approximate | 53:56 |