Here's how to create a new subscription in Google Play for your Android app:
1. Log into Google Play Developer Console
2. Click onto your publication
3. On the left, click onto "In-app Products"
4. At the top of the screen, click "Add new product"
NOTE: The product type and product ID cannot be changed once created and the ID cannot be used again.
5. Select "Subscription" for product type
6. Enter in a Product ID (Ex: com.publication.issue1)
a. Per Google, an ID should be composed of lower-case letters(a-z), numbers(0-9), underline(_) and dot(.)
b. It should also start with lower-case letters or numbers
7. Click Continue
8. Enter in a product Title (Ex: My Publication - Issue 1)
9. Enter in a product Description (Ex: Purchase Issue 1 of My Publication)
10. Enter in product Price, excluding tax
11. Select the Billing Period
a. The options are Weekly, Monthly, 3 months, 6 months, Yearly and Seasonal
12. Optional: Free trial period - You can choose to give your potential readers a chance to access your publication before purchasing. The minimum number is 7 days.
13. Optional: Grace period - You can choose to set a few days for declined payments to be resolved.
a. The options are either 3 or 7 days
14. Optional: Auto price conversion - You can choose to set prices for specific countries or allow Google Play to automatically set pricing.
15. Click Save
Click here for the Google reference article