We just launched our site with Protected Content and Promo

We just launched our site with Protected Content and Promo Codes. In my past research it looked like Promo Codes would be applied for future renewals, which we were very excited about... however it looks like the promo codes are just discounting for the first time period and then they are billed for full price for renewal.

Is there a way to apply the promo code for future renewals?