Lyft Pink will give you perks and priority rides... for a monthly fee

Today Lyft announced a new subscription package that gives riders 15 percent off of every trip, and it doesn’t care about the number of rides you take or the distance of your travels. The company is calling the feature Lyft Pink, and it’s priced at $19.99 a month.

Though its discount is the most important part, Lyft Pink tosses in a bunch of premium features. You’ll get priority airport pickups, relaxed cancellation fees, waved lost-and-found fees, and surprise offers.

Does the math work? — A membership makes some sense if you travel with a ride-sharing service 2-3 times per week or more. The average fare sits around $20 or less; therefore, Lyft’s subscription could save you money if you ride a lot. Think of it this way: If your typical trip’s fare is $15, you’d need just ten rides to cover the cost of Lyft Pink’s membership.

Essentially, you’re paying for a glorified coupon from Lyft every month. The other features, such as priority airport pickups and relaxed cancellation fees, just add value to Lyft Pink’s price of admission.

Lyft’s also welcoming its members to try bikes and scooters. If you subscribe to Lyft Pink, you’ll get three free 30-minute bike or scooter rides every month. Of course, it depends on the market and whether these alternate modes of transportation are available.

All-Access Plan, goodbye — Lyft Pink will serve as the company’s flagship subscription. It replaces the All-Access Plan, which arrived in 2018 and unlocked access to up to thirty rides for $299 per month. Anyone with this subscription will get transferred to Lyft Pink, and they’ll start paying $20 per month rather than the old eye-popping price.

Subscriptions, the future of ride hailing? — Lyft Pink is taking a clear shot at Uber’s Ride Pass service, which the company introduced in March of 2019. Lyft still hasn’t turned a profit while operating as a publicly-traded company, but Lyft Pink could attract users who rely on its cars regularly and create a more consistent revenue stream for the hailing app.