Today most licences to use an online resource tend to be based on either a monthly or annual subscription. Those offering annual subscriptions tend to offer incentives such as ‘pay for a year and get 10 months for the price of 12’ if you pay in full in advance. It’s also worth noting that some Suppliers will notify you when the licence is due for renewal and others will simply invoice you and/or deduct the funds from your card (if that’s the way you paid for it initially) as their system is based on auto renewal. It goes without saying that you should check in the Terms of Business what renewal basis you have.
Typically, these days, subscriptions for content libraries will be annual licences. Some content providers will allow you to purchase a single course, although invariably this has a seat limitation (and will be hosted by them). One-off purchases are pretty rare these days, except for bespoke or customised content.
It’s also worth thinking about multi-year licences or deals. These come in lots of different flavours, but range from 2, 3, 4, 5 and even 10-year deals. Quite often the lump sum payment will be required up front, but the annual cost of your licence (when broken down across the whole length of the contract) will be a fraction of what it would be normally. In that regard, you could think of a multi-year licence as a one-off purchase, as you won’t need to continue making payments on the anniversary of the subscription.
If you’re interested in the Mi Crow approach to pricing, just head on over to our pricing pages!