How much do you spend on subscriptions? A baseline from USA
Bango, an e-commerce technology company, has recently published a report Subscription Wars: Super Bundling Awakens that covers a survey of 5,000 subscribers to paid TV in the US. If you believe you’re definitely not someone who’s verging on addiction to streaming platforms, with the entailed costs, think again. It turned out that an average Joe in America spends a bit less than $1,000 a year on subscriptions.
Some hard facts:
- 83% of Americans have at least one streaming service subscription;
- the average monthly payment each subscriber transfers to streaming platforms is $77;
- a quarter (25%) of the surveyed subscribers pay $100 for streamed video;
- paying audience of the services grows, despite recent price hikes and measures taken by them to counter password sharing;
- 73% of those who participated in the survey would like to have a single hub for all their subscriptions for clarity and ease of management.
Is it time you reconsidered your subscriptions?
A while ago, many countries of the world saw a real gym boom. New fitness centers appeared everywhere, chains thereof developed and spread, and there seemed to be no sign of weakening for this trend. In fact, it may have reached a plateau, but, unless it’s a thoroughly depressive location, a gym does not close even nowadays.
The reason is simple: while investment-intensive, this business is quite lucrative, because almost 70% of those who buy memberships to such gyms don’t attend. They may come there once or twice, and that’s it.
It looks like something similar goes on with subscription services. The difference is that in case of a gym membership, you’re unlikely to get your money back, but with a subscription, it’s just a matter of canceling it. All you have to do is dedicate half an hour of your time to the task.
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