000			nam a22 4500
999			_c48332 _d48332
003			OSt
005			20170923175920.0
008			170923b xxu||||| |||| 00| 0 eng d
100			_aMcCarthy, Daniel M. _927553
245			_aValuing Subscription-Based Businesses Using Publicly Disclosed Customer Data
300			_a17-35 p.
520			_aThe growth of subscription-based commerce has changed the types of data that firms report to external shareholders. More than ever, companies are discussing and disclosing information on the number of customers acquired and lost, customer lifetime value, and other data. This has fueled an increasing interest in linking the value of a firm’s customers to the overall value of the firm, with the term “customer-based corporate valuation” being used to describe such efforts. Although several researchers in the fields of marketing and accounting have explored this idea, their underlying models of customer acquisition and retention do not adequately reflect the empirical realities associated with these behaviors, and the associated valuation models do not meet the standards of finance professionals. The authors develop a framework for valuing subscription-based firms that addresses both issues, and they apply it to data from DISH Network and Sirius XM Holdings.
653			_aCustomer lifetime value
653			_aCustomer equity
653			_aShareholder value
653			_aValuation
700			_aFader, Peter S. _927554
700			_aHardie, Bruce G.S. _927555
773	0		_029537 _966971 _aFRAZIER GARY L. _o5557753 _tJOURNAL OF MARKETING _x0022-2429
942			_2ddc _cJA-ARTICLE