From Forever Subscriptions to Vampire Subscriptions: New research reveals conflicting habits defining the global subscription economy

Rhea-AI Summary

Bango's new report, 'Super Bundling: Global trends', reveals key insights into the global subscription economy based on a survey of 15,000 subscribers across the USA, Europe, and Latin America. The study highlights two conflicting trends: 'Vampire Subscriptions' and 'Forever Subscriptions'.

Key findings include:

• 1 in 3 Americans pay for unused subscriptions
• 35% of Americans lose track of subscription spending
• 44% of Americans struggle to track subscription sign-ups
• 75% of Americans have at least one 'Forever Subscription'

The report also emphasizes the growing demand for all-in-one subscription hubs, with 54% of Americans, 46% of Europeans, and 68% of Latin Americans expressing interest in such platforms to better manage their subscriptions.

Positive

• The report identifies a high demand for all-in-one subscription hubs across regions
• 75% of Americans have at least one 'Forever Subscription', indicating strong customer loyalty
• The study provides valuable insights for subscription-based businesses to improve their services

Negative

• 35% of Americans lose track of their subscription spending
• 44% of Americans struggle to keep track of their subscription sign-ups
• One in three Americans pay for subscriptions they never use, potentially leading to customer dissatisfaction

Americans most likely to lose track of their spending as content hubs take center stage

SAN JOSE, Calif., Sept. 17, 2024 (GLOBE NEWSWIRE) -- One in three Americans now pay for a subscription they never use and 35% have lost track of how much they spend on subscriptions each month. According to a new report from Bango, this makes American subscribers the most likely to lose track of their spending, compared with Europeans (28%) and those in Latin American (27%).

These findings and more come from the newly released Bango report, Super Bundling: Global trends, which explains the top ten trends defining the Subscription Wars from over 15,000 subscribers across the USA, Europe and LATAM.

One such trend is the rise of ‘Vampire Subscriptions’ — those long-forgotten subscriptions that suck money out of consumers’ bank accounts without them even realising. For Americans, this is becoming increasingly common, with 44% saying they struggle to keep track of where and how they signed up to these subscriptions.

While Americans struggle the most with this issue, it’s a problem that exists across all regions surveyed. 39% of LATAM subscribers also find it hard to keep track of their subscriptions, as do a third of European subscribers.

Another trend in the research is ‘Forever Subscriptions’, those that users never pause or cancel. Three-quarters of Americans report having at least one of these ‘Forever Subscriptions’ showing a high degree of loyalty.

Internationally, subscribers are struggling to stay on top of their subscriptions as more and more services enter the market. For Bango, this is yet more reason for all-in-one subscription hubs, allowing consumers to manage all their subscriptions centrally, paid for via one transparent bill.

The data agrees, with almost half of European subscribers (46%) saying they would spend more time using their subscription services if an all-in-one platform was available. This demand is even higher in the USA (54% agree) and in LATAM (68% agree).

As Paul Larbey, CEO at Bango explains, “While full-service content hubs like Verizon +play are on the rise in the USA, there’s still more to be done to make them mainstream. Content hubs have yet to properly break into the European and LATAM markets even though the demand is there from consumers.

“What’s clear is that subscribers want choice and flexibility without the annoyance of juggling multiple accounts and bills. Super Bundling through content hubs finally brings that level of flexibility — aggregating multiple services into one single platform with ease. It’s an approach that puts the subscriber first while allowing subscription services to share users rather than fighting over them.”

To find out more global subscriber trends, download the full Bango Super Bundling: Global trends report here.

About Bango

Bango enables content providers to reach more paying customers through global partnerships. Bango revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscriptions economy, powering choice and control for subscribers.

The world’s largest content providers, including Amazon, Google and Microsoft, trust Bango technology to reach subscribers everywhere.

Bango, where people subscribe. For more information, visit www.bango.com

Media contact
Henry Soundy / Trisha Bahl
Wildfire
bango@wildfirepr.com 

FAQ

What are the key findings of Bango's 'Super Bundling: Global trends' report?

The report reveals that 1 in 3 Americans pay for unused subscriptions, 35% lose track of spending, 44% struggle to track sign-ups, and 75% have at least one 'Forever Subscription'. It also highlights a growing demand for all-in-one subscription hubs across regions.

How do American subscribers compare to Europeans and Latin Americans in managing subscriptions?

Americans are more likely to lose track of subscription spending (35%) compared to Europeans (28%) and Latin Americans (27%). They also struggle the most with tracking subscription sign-ups, with 44% finding it difficult.

What are 'Vampire Subscriptions' and 'Forever Subscriptions' as mentioned in the Bango report?

'Vampire Subscriptions' are forgotten subscriptions that continue to charge users without their awareness. 'Forever Subscriptions' are those that users never pause or cancel, indicating high loyalty. The report found that 75% of Americans have at least one 'Forever Subscription'.

What solution does Bango propose for managing multiple subscriptions?

Bango proposes all-in-one subscription hubs that allow consumers to manage all their subscriptions centrally, paid for via one transparent bill. This approach aims to provide choice and flexibility without the hassle of managing multiple accounts and bills.