US subscription fatigue is real, with consumers managing an average of 5 accounts
The proliferation of streaming services may have hit its limit, according to the latest survey of American subscribers.
19% are paying for eight or more subscription services
Far from happy at the wealth of choice, 72% of US consumers say there are ‘too many’ subscription services, with the average subscriber now shelling out for five different subscriptions every month.
Conducted by mobile payments platform Bango, the survey of 2,500 Americans found that 78% dream of a single app to manage the multiplying tendrils of their expanding digital footprint, delivering a one-stop-shop for TV, music, gaming and fitness.
The shifting sands of consumer sentiment has already seen Disney+ and Netflix roll out ad-supported tiers at a lower cost, but they may be barking up the wrong tree according to Bango. So coveted was such a mythical ‘super bundle’ that 63% said they would pay more to avoid micro-managing every service.
Anil Malhotra, co-founder at Bango, said: “Subscription users don’t want less choice, they want less admin. They’re tired of managing multiple services and 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 put subscribers first.”
With 19% coughing up for eight or more subscription services, the need for rationalization is becoming clear with 45% struggling to keep track of what they’ve signed up for and 35% in the dark about their total monthly spend. These factors combine to leave 34% admitting that they pay for a subscription service that they ‘never use.’
Among the biggest bugbears from weary subscribers are managing personal details (48%); accessing accounts from multiple devices (47%); paying bills (43%); canceling subscriptions (43%); and renewals (42%).
Bango previously booked space on the UK’s least-viewed advertising billboard in a sly dig at the pitfalls of search advertising.