>I read more and more about new ways of licensing software.
>It looks like subscription licensing could become the next popular thing.
>Anybody here have experience with this approach?
>I'd like to have more information about how to implement this. I mean is it just a matter of different pricing or is there a lot more to it?
>What are the difference between the two approach?
>What determines the price of a subscription? How long should it last?...

If you use subscription - you are not owner of any software. You pay for its use. For companies which hire a new member for a year this reduce costs.
We keep a copy of every software which we use and for other we subscribe.
If we reduce/rise busssiness we bought less/more subscriptions.
if you are outsourcing org like us this save a lot of money because you always have newest software, but this tie you to a software producer company(M$).
If you use only one version of the product for a long time - 5 years and for specified number of worker, because of bussiness model, subscription is more expensive.
Everything depend on a lot of variables. According them licensing and subscription has advantages or ....

HTH