Microsoft's Office software have become iconic in the business world with the majority of companies relying on the use of Word, Excel, or PowerPoint on a daily basis. Originally Microsoft's business model for the Office Suite relied on a simple one-time fee licensing structure in which consumers had to pay a high up-front cost to get a lifetime license – that is until the newer version comes out and they have to pay another large fee if they wanted to upgrade.
As of 2011, the software giant made the decision to begin offering a subscription based access to the Office software in which they entitled ‘Microsoft 365'. This revolutionized their business model as now consumers could get access to the popular software for a much smaller upfront fee and it triggered line of recurring revenue for Microsoft.
Prior to today, Microsoft's cheapest Office 365 subscription was the ‘Home' plan which runs at $99.99 per year or $9.99 per month (recurring) and it includes licenses for 5 computers. A new, cheaper option was rolled out this morning called the Office 365 Personal subscription which only offers a license for 1 computer, but is priced lower at $70 per year or $7 per month (recurring). Those who are interested in signing up for this plan can get all the details via the product page.
Check out the breakdown between the ‘Home' and ‘Personal' plans here:
As a graduate of the University of Massachusetts and our Managing Editor, Colt loves testing out the newest tech products/services. His goal is to help better educate other consumers to ensure the most satisfying purchases decisions on consumer electronics and services. When he is not working on creating new content, Colt enjoys spending time with his two Australian Shepherds, Mia and Zoey.