Brightcove Publishes Over-the-Top (OTT) TV Research with Insights on Adoption, Payment and Advertising Preferences in Vietnam
Over 80% of Vietnamese respondents are open to ad-funded subscription video on-demand (SVOD) services at a reduced price
HANOI, Vietnam(02 Jul 2019)
Brightcove Inc. (NASDAQ: BCOV), the leading global provider of cloud services for video, today published its annual OTT TV market study for Asia, The 2019 Asia OTT Research Report, conducted with research partner YouGov, a global public opinion and data company.
The study polled 9,000 participants across nine countries in Asia, including 1,000 consumers in Vietnam. The survey was designed to uncover insights into consumer preferences towards OTT services, including subscription tiers and motivators driving subscriptions; how much consumers are willing to pay; their tolerance to advertising and ad-supported subscriptions; and openness to a shoppable TV experience. The report is co-sponsored by Evergent, a leading provider of cloud-based, user lifecycle management solutions for video service providers and SpotX, a leading global video advertising and monetisation platform.
Key findings for Vietnam include:
- 35% of respondents said they might be open to a reduced monthly subscription package that serves ads -- depending on the price, whereas 46% said they would definitely sign up, representing a potential market size of 81% of respondents polled favouring this option.
- 52% of 'Lapsed' respondents are planning to sign-up for OTT services again in the future.
- The top three reasons for subscribing to multiple OTT services were: to satisfy the content needs for their family (56%), desire for niche content (52%), and more content options (37%).
- Thinking about the future, 25% of respondents in Vietnam want to pay nothing and watch ads as a trade-off to consuming content, 22%elected to pay a lower fee and see limited ads, and 21 % stated they are willing to pay a higher fee to not see ads.
- When asked how much would respondents be willing to pay for OTT services, 20% of respondents stated less than USD $1 per month, 24% would pay USD $1-$4 per month, and 23% would pay USD $5-$9 per month.
- 28% of respondents in Vietnam found one ad as an acceptable advertising load per ad break and 26% were open to two ads per break.
- Access on Apple TV, Android TV or Smart TV apps (43%), access on mobile (39 %) and offline downloads (36%) and were the top three OTT service features most wanted by respondents in Vietnam.
- When asked if respondents would be open to purchasing product as seen on TV, 76% of respondents were receptive to the idea of shoppable TV.
Greg Armshaw, Head of Sales, Asia, at Brightcove said, "The main competition for OTT service providers in Vietnam is pirated OTT services, where 95% of programming is pirated. Vietnamese respondents do love OTT content but they are less keen to pay for it. In order to address this and edge out pirated sites, content owners need to increase value for subscribers, present an extensive content library, offer exclusive highly-rated original content, ensure a high-quality streaming experience, enable frictionless user sign-up experiences, provide flexible ad-funded or ad-free pricing plans, and delight consumers with advanced mobile TV viewing experiences. Brightcove can enable OTT service providers to build and implement a robust OTT strategy to delight viewers and increase stickiness with their own offering."
The full report can be downloaded at www.brightcove.com/ottasia2019.
Brightcove Inc. (NASDAQ:BCOV) is the leading global provider of powerful cloud solutions for managing, delivering, and monetising video experiences on every screen. A pioneering force in the world of online video since the company's founding in 2004, Brightcove's award-winning technology, unparalleled services, extensive partner ecosystem, and proven global scale have helped thousands of companies in over 70 countries achieve better business results with video. To learn more, visit www.brightcove.com.
YouGov is an international data and analytics group, offering opinion data derived from its highly participative panel of 6 million people worldwide. YouGov combines this continuous stream of data with its deep research expertise and broad industry experience into a systematic research and marketing platform. With 34 offices in 22 countries and panel members in 38 countries, YouGov has one of the world's top ten international market research networks. For further information visit https://ap.yougov.com.