Survey: 72% say there’s too many subscription services
November 21, 2022
Nearly three quarters of subscription users (72 per cent) say there are “too many” subscription services available today. To address the issue, 78 per cent would like a single platform to manage all of their subscriptions (TV, Music, Gaming, Fitness, etc). Despite feeling overloaded with options, 63 per cent of subscribers say they would pay for more subscriptions if they came as part of a centralised ‘superbundle’.
This is according to a research study from Bango. Based on data from 2,500 US consumers currently paying for subscription services.
Overwhelmed with subscriptions
According to the survey, the average subscriber pays for five different subscriptions each month, while one in five (19 per cent) pay for eight or more. These services don’t just include video streaming, but also span gaming, music, fitness, meal kits and more.
Nearly half of subscribers (45 per cent) say they find it hard to keep track of where and how they signed up to these subscriptions. A third (35 per cent) have no idea how much they spend in total each month, while 34 per cent say they currently pay for a subscription service that they ‘never use’.
This is not only costing subscribers money. It’s also impacting their experiences and attitudes towards the subscription economy as a whole.
A bad subscriber experience
While many subscribers are frustrated that they can’t access all the content they want in one place, Bango’s research also highlights a wider frustration with managing multiple services, accessing accounts, and paying bills.
The top frustrations listed by subscribers include:
- Managing and updating personal details (48 per cent)
- Accessing accounts across multiple devices (47 per cent)
- Paying bills (43 per cent)
- Cancelling subscriptions (43 per cent)
- Renewing contracts and subscription (42 per cent)
Faced with these challenges, many consumers are avoiding the admin involved in subscriptions altogether, with 39 per cent of those surveyed turning to online piracy to get the user experience they want.
More subscriptions. Less admin.
Despite the claim that there are ‘too many’ subscription services, Bango’s study argues that consumers don’t want less choice, they simply want a better, more joined-up experience.
According to the data, more than three quarters of subscribers (78 per cent) want one single platform to manage all of their subscriptions. Some 77 per cent also want to be able to pay for multiple subscriptions (spanning TV, music, gaming and more) via one monthly bill. And 79 per cent also believe that having all of their subscriptions in one place would help them manage their household expenses in the face of the cost of living crisis.
As Anil Malhotra, Co-founder at Bango, commented: “Subscription users don’t want less choice, they want less admin. They’re tired of managing multiple services, multiple accounts and paying multiple bills. What’s needed is not fewer subscription services, it’s a way to bundle all those subscriptions together. We need to focus on creating all-in-one solutions that give users the best prices, provide flexibility over bills, and that put subscribers first.”