Over 50% of respondents in Hong Kong are open to ad-funded subscription video on-demand (SVOD) service at a reduced price
HONG KONG, July 3, 2019 /PRNewswire/ -- 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 surveyed 9,000 participants across nine countries in Asia, including 1,000 consumers in Hong Kong. The survey was designed to uncover insights into consumer preferences around 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 post-programming. 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 Hong Kong include:
- 51% of respondents from Hong Kong said they might be open to a hybrid model, where a reduced monthly subscription package also serves ads -- depending on the price, whereas 23% said they would definitely sign up, representing a potential market size of 74% of respondents polled favouring this option.
- 47% percent of 'Lapsed' respondents are planning to sign-up for OTT services again in the future.
- Content was the main reason for Hong Kong respondents wanting to subscribe to multiple OTT services. The top three reasons for subscribing to multiple OTT services include: wanting more content options (50%), to satisfy the content needs for their entire family (41%), and access to niche content (33%).
- Thinking about the future, 43% of Hong Kong respondents want to pay nothing and watch ads as a trade-off to consuming content, 18% elected to pay a lower fee with limited ads, and 12% would like to pay a higher fee to not see ads.
- When asked how much would respondents be willing to pay for an OTT service, 26% of respondents stated less than USD $1 per month, 17% would pay USD $1-$4 per month, and 20% would pay USD $5-$15 per month.
- 31% of Hong Kong respondents found one ad as an acceptable advertising load per ad break and 21% were open to two ads per break.
- Offline downloads (44%), seamless viewing between devices (36%), and access on mobile (32%) were the top three OTT service features most wanted by Hong Kong respondents.
- When asked if respondents would be open to purchasing product as seen on TV, 68% of respondents were receptive to the idea of shoppable TV.
Greg Armshaw, Head of Sales, Asia, at Brightcove, said, "The main competition for Hong Kong OTT service providers is free or pirated online streaming services. OTT content providers can edge out free online streaming services by creating a 'stickier' service offering. OTT service providers should aim to offer highly-rated programs, enable frictionless user sign-up experiences, and offer shoppable TV experiences. All of these features can discourage the access of content through free or pirated online streaming services, as that experience would be far more cumbersome than a legitimate OTT service. At Brightcove, we have features and functionality to facilitate the management of licensed content across OTT services by offering sophisticated, studio-grade content protection and advanced security; and Brightcove is supported by industry DRM standards such as Google's Widevine, Apple's FairPlay, and Microsoft's PlayReady."
The full report can be downloaded at www.brightcove.com/ottasia2019.
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.
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.
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