Although subscription subscriptions in Mexico have grown significantly, 62% of Mexicans do not have all the digital subscriptions they want.
Annual spending on digital subscriptions in Mexico has reached significant figures, showing a growing trend in the consumption of digital services. According to a recent study by the Bango platform, the average Mexican spends around 9,168 pesos annually on various subscriptions, ranging from streaming platforms to music and gaming services.
The increase in spending on digital subscriptions in Mexico can be attributed to several factors. The adoption of digital services has grown exponentially, driven by the expansion of the middle class and changes in consumer habits.
In particular, subscriptions to streaming services (SVOD) are the most popular among Mexicans, followed by music and gaming subscriptions. This phenomenon is not only a reflection of the population’s entertainment preferences, but also the ease of access to these services through different devices.
The study reveals that Mexicans tend to subscribe to multiple services, with an average monthly spend of 764 pesos. However, this significant expenditure also comes with certain challenges. A high percentage of consumers, 62%, mention that they cannot afford all the subscriptions they want. In addition, more than half (54%) have cancelled subscriptions due to price increases.
Subscription management is another area of concern. 39% of respondents pay for subscriptions they do not use, which is a higher percentage than in any other Latin American country. This lack of control and the dispersion of services has led to 57% of users feeling annoyed at not being able to manage all their subscriptions from a single place.
Telcos and service providers
Telecom companies and digital service providers play a crucial role in this ecosystem. Mexicans have expressed a clear preference for providers that offer integrated subscription services.
According to the Bango report, 80% of users would prefer their mobile provider to offer a subscription management service, while 40% believe that it should be their internet provider that provides this service.
The willingness to pay more for services that make subscription management easier is also evident. 78% of respondents are interested in an application that allows them to manage all their subscription services from a single place.
Latin America
Mexico, with an average of 3.8 subscriptions per person and an average monthly spend of MXN 764, compares with Brazil, which has a similar average of 3.8 subscriptions per person. Other countries such as Argentina, Chile, Peru and Colombia have a slightly lower average, ranging between 3.3 and 3.5 subscriptions per person, with variations in average monthly spend.
In terms of service popularity, Mexico is similar to Argentina and Chile, where streaming (SVOD) and music are also very popular. However, Argentina stands out for having a high percentage of subscribers to streaming sports services.
In Mexico, 62% of subscribers have difficulty accessing all the subscriptions they want, a problem also significant in Argentina (74%) and Brazil (73%). Cancellation of subscriptions due to price increases is common in all these countries, although more prevalent in Argentina (63%).
Subscription management is also a common problem. In Mexico, 39% pay for subscriptions they do not use, while in Argentina this percentage is 32% and in Brazil it is similar to that of Mexico.
The preference for a centralized application is strong in Mexico (78%) and Argentina (76%). In both countries, consumers also show a high expectation that telecommunications companies offer solutions for subscription management.
In Brazil, in addition to centralized management, consumers value flexibility in prices and specific plans for mobile devices, showing a high sensitivity to the introduction of advertisements in subscription services.
As digital subscriptions continue to gain popularity in Mexico, the need for innovative solutions for management and affordability becomes increasingly apparent. According to Bango, companies that can meet these demands will have a competitive advantage in the growing digital subscription market in Mexico and Latin America in general.
Source: eleconomista
