Not extrapolating uk market. The article mentions ‘Second is our subscription model. Depending on the market, up to 32 to 35 percent are choosing one of the premium products that we’re offering’. Reading again, I have interpreted incorrectly - the article doesn’t suggest an average subscription rate of 32-35% across all markets, but definitely seems like there are more than one market where subscription is at 32 to 35%.
Regardless, the subscription model seems to be good business for challengers. N26 and Revolut have both stated that premium accounts are a key revenue driver for their business, other challengers like Monese also adopts this model.