According to a recent survey, the surge in the subscription economy poses a threat to consumers in Southeast Asia and India. The majority of subscribers (81%) think there are currently “too many” subscription services accessible. 93% now demand a single platform to manage all of their subscriptions as a result. Even said, 81% of respondents believe they would sign up for more subscriptions if they were consolidated into a single content hub, despite the fact that many people are experiencing subscription fatigue.
According to recent study by Bango, which was based on a survey of more than 6,000 users in India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam who currently pay for subscription services, this is the case.
Subscriber overflow
Data shows that 15% of consumers have more than six subscriptions, and 86% of users have two or more. These cover everything from streaming to food delivery, sporting events to music services, and everything in between.
Consumers’ frustration with the administrative nightmare is understandable given that there are so many subscriptions to handle, each on a different platform.
Many people are forgetting about their active memberships, which results in extra expenses. A third (32%) of people claim they are now paying for a subscription service that they “never use,” while almost half (44%) admit to continuing to pay for subscriptions they somehow forgot were still active.
Customers lose money and patience when they subscribe to too many subscriptions. Additionally, it tarnishes their perceptions of subscription services in general.
effortlessly distributed from one hub
Although the majority do believe there are too many subscription services available, Bango’s research demonstrates that consumers do not want fewer options. They merely desire a more seamless encounter.
The survey shows that a sizable majority of consumers (93%) want to be able to manage all of their subscriptions through a ‘Super Bundling’ content hub. According to Juniper Research, Super Bundling is paying a service aggregator once for various subscriptions, like streaming services, that are provided through a single online subscriptions gateway. This service aggregator might be a telco.
The best content hub for subscribers in Asia would offer:
- 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%)
If a content centre was accessible, the vast majority of customers (89%) would use their subscription services more frequently. 91% of respondents think that consolidating all of their subscriptions into one location would make it easier to control household spending.
Managing several subscriptions is difficult for users, as Anil Malhotra, co-founder of Bango, says. They only want less administration, not less options. Building comprehensive solutions that can provide customers with greater choice, flexible paying options, and an excellent user experience should be our main priority. They genuinely desire that.
Telco-led bundling on a new frontier
According to the survey, local mobile network operators may hold the key to unlocking Super Bundling when it comes to developing this solution. Telcos are the most dependable supplier of a centralised content hub for the vast majority of consumers in Asia (81%). Given that two thirds (67%) of consumers currently have subscription services included in their phone plan, they are the obvious choice.
Super Bundling content hubs would increase customer loyalty, according to the statistics, which shows that 95% of respondents said they would be more devoted to the firms who supplied them. If this service were available elsewhere, 66% of people even threatened to switch telco providers, which would be extremely valuable for any telco that managed to seize the opportunity.
Telcos like Verizon and Optus have already introduced ‘Super Bundling’ content hubs in the US and Australia, offering centralised hubs for streaming, music, gaming, and more through their +play and SubHub platforms, respectively.
Super Bundling technology is a speciality area for businesses like Bango, offering a seamless experience for customers, content producers, and carriers alike. “Bango’s technology can be thought of as a ‘Digital Vending Machine’ for subscriptions,” says Malhotra. Every subscription you can imagine is present. Any significant company, including telcos and banks, can access it and add the subscriptions that their customers want. The greatest offers and reductions can then be included in a regular monthly charge.