LivingSocial is testing a new subscription service called LivingSocial Plus.

LivingSocial Plus, a new subscription service

For $20 a month, subscribers will receive $25 in Deal Bucks good on LivingSocial purchases. $5 is good only in that month, the remaining $20 can be carried over for 5 years or longer depending on gift card rules.

The service also offers priority access to deals that expired, subject to availability.

It’s an interesting idea that could lead to steady recurring revenue, which is something Wall Street loves. On the other hand, the people most likely to buy the subscription service would be people who are already big spenders on daily deals. That threatens the margins of the business, which is a concern that has hammered Groupon’s stock since it went public.

As a consumer, I don’t love it. I think the price is too high. Spending $20 to get a $25 store credit seems steep.

After all, LivingSocial and Groupon have trained us to believe that anything below 50% off isn’t a deal.

From the LivingSocial Plus FAQ:

what’s livingsocial plus?
LivingSocial Plus is our new premium membership program and the best way to get the most out of your LivingSocial experience. It’s our little way of sharing the love with our most loyal and adventurous LivingSocial members, month after month.

what do i get?
You get 25 Deal Bucks to spend every month—5 for this month, and 20 for anytime you want (within five years, or longer if required by the laws of your state). You can use your Deal Bucks on all sorts of LivingSocial deal purchases.
You’ll also get exclusive access to selected deals after the clock runs out – just contact us within 48 hours and we’ll do our very best to get another voucher just for you, subject to availability.

what are deal bucks again?
See Deal Bucks FAQ

how do i request a deal after it closes?
Your LivingSocial Plus membership welcome email contains a Priority Waitlist email address, exclusive to LivingSocial Plus members.

how much is it?
$20 per month.

what if i change my mind?
No problem. You can cancel anytime via your LivingSocial account, and your Deal Bucks will remain in your account until they expire.

can i get a refund of my subscription?
You may request a refund if you cancel within five (5) days of subscribing, providing you have not used any of your Program Benefits prior to that time.