The boom in the subscriptions economy is threatening to overwhelm
consumers across India and Southeast Asia, according to a new
survey. Well over three quarters (81%) of subscription users
believe there are now “too many” subscription services available.
As a result, 93% now demand a unified platform to administer all of
their subscriptions. Yet, despite many feeling the subscription
fatigue, 81% say they would sign up for
more
subscriptions if they were consolidated through a centralized
content hub.
That’s according to new research from Bango,
based on a survey of over 6,000+ consumers currently paying for
subscription services across India, Indonesia, Malaysia,
Philippines, Thailand, and Vietnam.
Subscription overload
According to the data, 86% of consumers have 2+
subscriptions and 15% have more than 6. These include services
ranging from streaming to food delivery, music to sport, and
everything in between.
With so many subscriptions to manage, each on
separate platforms, it’s no surprise that consumers are frustrated
by the administrative nightmare.
Many are losing track of their current
subscriptions, leading to unnecessary costs. Nearly half (44%) say
that they’ve kept paying for subscriptions they forgot were still
active, while a third (32%) say they currently pay for a
subscription service that they ‘never use’.
Too many subscriptions costs consumers both
their money and patience. It also sours their opinions on
subscription providers generally.
One hub, seamlessly
delivered
Though most do say there are too many
subscription services, Bango’s study shows that consumers don’t
want fewer choices. They simply want a more seamless
experience.
According to the data, a large majority of
consumers (93%) want all of their subscriptions to be managed
through a ‘Super Bundling’ content hub. As defined by Juniper
Research, Super Bundling consists of a single payment to a service
aggregator — such as a telco — for multiple subscriptions such as
streaming services, which are delivered through a single online
subscriptions hub.
For subscribers in Asia, the ideal content hub
would provide:
- Discounts in subscription prices
(58%)
- Access to a wide variety of
services in one place (56%)
- The ability to pay multiple
subscriptions at once (51%)
The majority of consumers (89%) would spend more
time using their subscription services if a content hub was
available. 91% also believe that having all of their subscriptions
in one place would help them manage their household expenses.
As Anil Malhotra, Co-founder at Bango explains,
“Managing multiple subscriptions is a headache for users. They
don’t want less choice – just less admin. We should focus on
building all-in-one solutions that can offer consumers flexibility
on billing, a wider variety of choices, and a great user
experience. That’s what they really want.”
A new frontier of bundling, led by
telcos
When it comes to building this solution, the
survey reveals that local mobile network operators may be the key
to unlocking Super Bundling. For a majority of consumers in Asia
(81%), telcos are the most trusted provider for a centralized
content hub. They’re the logical go-to, as two thirds (67%) of
consumers already have subscription services included in their
phone plan.
The data also shows that Super Bundling content
hubs would boost consumer loyalty, with 95% saying they would be
more loyal to the brands that provided them. 66% would even leave
their current telco provider if this service became available
elsewhere, creating significant value for any telco able to capture
this opportunity.
In the US and Australia, telcos like Verizon and
Optus have already launched ‘Super Bundling’ content hubs, offering
centralized hubs for streaming, music, gaming, and more through
their +play and SubHub platforms, respectively.
Companies like Bango specialize in the
technology behind Super Bundling, ensuring a streamlined experience
for consumers, content providers and telcos alike. As Malhotra
explains, “Bango’s technology can be thought of as a ‘Digital
Vending Machine’ for subscriptions. It’s stocked with every
subscription you can think of. Telcos, banks, and any other large
business can tap into it, and load it with the subscriptions their
customers want. Then they can offer the best deals and discounts as
part of a regular monthly bill.”
To view Bango’s research data or to find out more about the
Bango Digital Vending Machine, read the full study here.
About Bango
The Bango Digital Vending Machine provides
everything you need for subscription bundling and payments,
enabling you to quickly reach new customers and markets.
Connect once for a standard system of tools used for customer
acquisition, payments and subscriptions, and join an ecosystem of
over 150 merchants and resellers already connected to the Bango
platform. Trusted by leading technology companies including
Amazon, Google, and Microsoft. For more information, visit
www.bango.com.
Media contactLuke Proctor / Tina
SangWildfirebangoresale@wildfirepr.com
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