With so many choices for subscription streaming services – and more coming soon – it appears that consumers are racking up pay TV-like monthly bills to get everything they want.
According to Amdocs’ 2019 Subscription Management Report, 27% of U.S. consumers spent more than $100 a month on subscription services. The survey, which spoke with 1,000 respondents, also found that more than half of the U.S. consumers surveyed (59%) are happy with their current subscriptions and not looking to make changes. Another 22% would consider adding another service, but only if something new came to market.
Of course, several new high-profile streaming service launches are coming up soon including Apple TV+ and Disney+ in November, and NBCUniversal’s Peacock and HBO Max in 2020.
Amdocs’ research also found that many U.S. consumers are feeling overwhelmed by the amount of streaming subscriptions they are required to manage. One-third of respondents said that remembering passwords to each of these accounts was their biggest pain point.
Another 39% of respondents said a bundled platform of all their services is the best way to solve this frustration. That type of video aggregation platform service has become more common this year. Earlier entrants like Amazon Channels and the Roku Channel have been joined by emerging services like Apple TV channels, Comcast’s Xfinity Flex and TiVo+.
Earlier this month analyst firm Barclays, which expects about 10 new streaming services from legacy media and new entrants will launch over the next 12 months, said the industry will likely see a mix of price and product bundles from ISPs which include multiple OTT services attached to a broadband connection at one price point.
“In our opinion, however, ISPs that can create product bundles will be a lot more effective than those creating price bundles but the only company which has invested in this among ISPs is Comcast,” wrote Barclays analyst Kannan Venkateshwar in a research note.