Singapore – Over-the-top (OTT) video streaming reaches 392 million people across Asia Pacific, according to a new report from global video advertising platform SpotX.
According to the report, over two thirds (69%) of video viewers in the region watch streaming video at least once a week, confirming that both the audience size and regularity of OTT viewing have matured and entered the mainstream. The top three markets for OTT viewing were Singapore (91%), Australia (81%), and Indonesia (76%).
In terms of daily streaming, OTT viewers watch more than two hours of content a day, often out-stripping traditional TV and video-sharing platforms. The leading markets for OTT consumption are the Philippines, Indonesia, and Australia.
The majority of OTT streaming is done through mobile devices, evident across developing countries. However, smart TV viewership is growing quickly, especially in Australia, Singapore, and Vietnam, where at least one in five video viewers streams through a smart TV.
Meanwhile, most video viewers (67%) prefer to watch free, ad-supported content versus only 23% who prefer to pay for an ad-free service. There is also a clear acceptance of ads in exchange for viewing free content, with 86% of viewers saying they don’t mind watching ads – provided the ad loads are kept light. Also, streamers say that OTT ads are more effective than TV ads at attracting their attention across Southeast Asian countries.
“We are only scratching the surface of the possibilities in OTT. Not only have users grown due to the stay-at-home regulations, but it is a habit that Indonesians will continue to pursue post-pandemic,” said Crisela Magpayo Cervantes, principal partner at Mindshare Indonesia.
“Local original series and movies, Korean drama, and sports are driving OTT growth as are different acquisition strategies, through telco partnerships, and new funding models,” she added.
The research was conducted across the markets of Indonesia, the Philippines, Vietnam, Thailand, Singapore, Japan, and Australia through the help of Singapore-based research firm Milieu Insights, which conducted a quantitative survey of 7,000 people across the aforementioned markets.