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30 November 2022
US consumers suffer subscription overload
Subscription modelsUnited StatesStrategy
Consumers are disappointed with the oversaturated subscription economy and might be willing to pay a premium for services that remove friction from the user experience, according to a study of 2,500 US consumers conducted by mobile internet payment company Bango.
Why it matters
As consumers grow increasingly annoyed about remembering all their passwords, renewing and canceling multiple subscriptions, and accessing login pages across different devices, companies have the power to alleviate frustration by removing friction wherever possible.
Consumers navigate subscription jungle
The typical user pays for five subscriptions and one in five users pays for at least eight subscriptions.
72% of users say there is an excessive amount of available subscriptions, and 45% say it’s difficult to monitor how they signed up for their subscription.
39% of respondents resort to online piracy for a more optimal experience and to bypass admin involvement.
65% of users say they can’t afford all their subscriptions during this time of inflation.
Most viewers only watch one program from each streaming provider, and 42% report feeling “locked in” to their subscriptions.
To enhance customer experience, practicing flexibility is key: 63% of those surveyed reported they are comfortable with paying more for subscriptions if they are located in an all-in-one content hub.
“Subscription users don’t want less choice, they want less admin” – Anil Malhotra, co-founder, Bango.