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Lyft is dialing up its battle against rival Uber for customers’ loyalty with a new monthly subscription option called Lyft Pink that includes discounts on rides, free bike and scooter rides, and other perks.

Why it matters: Now that both ride-hailing companies are publicly traded, they need more than ever to boost their growth and margins and rein in losses, as investors demand a clearer path to profitability.

How it works: For about $20 a month, Lyft Pink subscribers will get:

  • 15% off all car rides
  • Three free 30-minute bike and scooter rides
  • Priority pickups at airports
  • Waived lost and found fees
  • Other promotions, upgrades, and special perks

Context: Rival Uber already has its own similar subscription, though it’s a bit more expensive at about $25 per month (and with slightly different discounts and perks). Lyft also has other subscription products focused on car rides, but they will be phased out and replaced with this one.

Yes, but: These subscriptions usually only make sense for super users of the service —customers for whom the discounts and freebies will add up to more than the monthly fee.

The bottom line: The companies are battling for customers’ loyalty as their services have become more and more commoditized in major U.S. cities, where riders often use both apps and order a ride from whichever is cheaper or can pick them up faster.

Go deeper

Anti-Trump lawmakers' private security expenses ballooned after Jan. 6 riot

Sen. Mitt Romney (R-Utah) speaking to reporters on Capitol Hill on April 14. Photo: Kent Nishimura/Los Angeles Times via Getty Image

Members of Congress are spending tens of thousands of dollars on personal security for them and their families in the wake of the Jan. 6 riot, according to an analysis of first-quarter Federal Election Commission reports by Punchbowl News.

Between the lines: Private security expenditures were especially common among anti-Trump Republicans and high-profile Democrats who earlier this year voted to impeach and convict the former president for inciting the deadly Jan. 6 Capitol riot, signaling they fear for the safety of themselves and their families.

59 mins ago - World

Jimmy Lai among Hong Kong pro-democracy leaders sentenced to prison

Students standing under a banner during a flag raising ceremony on the first annual National Security Education Day in Hong Kong. Photo: Vernon Yuen/NurPhoto via Getty Images

A Hong Kong court sentenced a group of the city's most prominent pro-democracy activists to up to 18 months in prison Friday for organizing a massive unauthorized protest in August 2019 that drew an estimated 1.7 million people, AP reports.

Why it matters: Critics say the sentences send the message that even peaceful pro-democracy activism will be severely punished. They mark a continuation of Beijing's overhaul of Hong Kong's political structure, designed to crack down opposition to the Chinese Communist Party.

Local news moves to the inbox

Illustration: Annelise Capossela/Axios

A slew of new companies are launching platforms for local newsletters, a shift that could help finally bring the local news industry into the digital era.

Driving the news: Substack, the email publishing platform for independent journalists, on Thursday announced a new local news platform.

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