Morgan Stanley has released a report examining the evolution of software pricing models as AI agents increasingly perform tasks traditionally done by humans. The report suggests that the market is shifting towards a hybrid model combining seat-based and consumption-based pricing, as pure outcome-based pricing remains challenging due to difficulties in attribution and ROI measurement. While consumption-based models can quickly capture AI-driven value, they also introduce revenue volatility and cyclicality during economic downturns.
The report highlights potential parallels with cryptocurrency mechanisms that could inform new pricing strategies. These include per-call or per-token billing akin to gas metering in the EIP-1559 fee market, committed-use models similar to ve-tokenomics lock-ups, and agent-to-agent micropayments resembling payment channels. Companies like $NET, $SPGI, $SNOW, $CRM, $ZEN, $COIN, and $Circle are noted as examples of firms that could leverage these crypto-inspired mechanisms in their pricing strategies.
Morgan Stanley Explores Future of Software Pricing Beyond Seat-Based Licensing
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