Uber
is endings its Uber Rewards free loyalty program this
fall.
In a blog post, the company says users can continue to earn
points through August 31 and points must be redeemed by midnight on October 31, 2022.
But Uber is keeping Uber One, its membership program that
offers perks such as free delivery on Uber Eats and 5% off rides, for a fee of
$9.99 per month.
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“Nothing is replacing Uber Rewards. However we’ve built out
a great membership program called Uber One,” the post says.
In the company’s calls with financial analysts August 2 to
discuss its
second quarter
earnings report
, CEO Dara Khosrowshahi says Uber One has about 10 million
members and is available in seven markets globally.
“About 23% of our overall gross bookings come from
members. That’s 32% for delivery,” he says.
“Generally, we're seeing increased engagement as a
result of being a member. Members have about 2.7 times of gross bookings on
Uber than nonmembers. So we think it's a pretty significant engagement lever,
and it's a pretty significant LTV [life-time value] lever as well. So we
definitely like what we're seeing with membership.”
According
to a recent study
, among verticals that offer subscriptions, travel is the
most likely to see growth over the next 12 months.