Financial research concept

Index Data Provider Index Retention Rate

measures the annualized retention of MSCI Index recurring subscription Run Rate.

By Lee BaileyPublished Oct 2, 2026

Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date: Oct 2, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context: 10 connected conceptsPart of the reviewed Index & Data Provider Economics; issuer definitions remain distinct where disclosed.
Company examples: 1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.

Retention applies to subscription Run Rate
Interim retention is annualized
Part of the Index & Data Provider Economics
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Index data provider Index retention rate measures the annualized retention of MSCI Index recurring subscription Run Rate.

MSCI reported a 97.5% Index retention rate in the second quarter of 2026, up from 96.0% a year earlier.

Retention applies to subscription Run Rate

MSCI does not calculate Retention Rate for the portion of Run Rate attributable to asset-based fees.

That keeps subscription durability separate from AUM-driven fee economics.

Interim retention is annualized

For non-annual periods, MSCI annualizes subscription cancellations relative to beginning-of-year subscription Run Rate and subtracts the resulting cancellation rate from 100%.

Read it with Index recurring subscription run-rate growth and Index net new recurring subscription sales growth.

Primary source: MSCI Q2 2026 Form 10-Q.

Part of the Index & Data Provider Economics

Connects MSCI Index revenue and Run Rate monetization with subscription sales and retention, plus Analytics, Sustainability & Climate, and Private Assets recurring growth.

Browse the full operating model in Company Analysis →

Where this concept fits

Index subscription sales and retentionCurrent relationship
Net new recurring subscription sales capture annualized subscription additions net of cancellations, while retention measures the durability of beginning subscription Run Rate and explicitly excludes asset-based fees.
Index Net New Subscription Sales GrowthIndex Retention RateCurrent concept
Index revenue and Run Rate monetization
Index operating revenue growth and total Run Rate growth combine recurring subscriptions and asset-based fees, while separate subscription and asset-based-fee Run Rates show how contract economics and linked-product AUM drive the segment.
Index Asset-Based Fee Run Rate Growth Index Revenue Growth Index Subscription Run Rate Growth Index Run Rate Growth
Adjacent recurring data platforms
Analytics, Sustainability and Climate, and Private Assets Run Rate growth show how MSCI's subscription-led businesses expand outside the Index asset-based-fee model, with Analytics operating revenue providing a recognized-revenue cross-check.
Analytics Revenue Growth Analytics Run Rate Growth Private Assets Run Rate Growth Sustainability & Climate Run Rate Growth

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

MSCIOpen operating-model research →10 of 10 reviewed concepts in Index & Data Provider EconomicsIndex subscription sales and retention2 of 2 bridge concepts supportedContinue through this bridge:Index Net New Subscription Sales Growth

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Compare annualized subscription retention while excluding asset-based-fee Run Rate.

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