Consumers across Asia Pacific show strong preference for OTT platforms; consider its content as premium video: InMobi report
InMobi, a world-leading provider of marketing and monetization technologies reaching billions of consumers around the globe, today released the findings of The OTT Premium Video Wave Consumer Study, Asia Pacific 2021. The report examines consumer preferences for OTT video platforms to other video platforms such as cable TV, long-form videos, and short-form videos, over the last year. It also unravels consumer perceptions of value, ad relevance, and willingness to pay for these platforms across India, Singapore, Indonesia, the Philippines, and Australia.
With home media consumption surging globally due to the pandemic, more people are watching OTT content than ever before. Insights from the InMobi report reveal that in 2020, an average of 46% of consumers across Australia, Singapore, India, and the Philippines demonstrated a clear preference for watching videos on OTT platforms; in Indonesia, consumer preference for OTT was second only to long-form videos. Respondents were also more likely to watch and discuss OTT content with friends and family over any of the other compared platforms, indicating the prevalence of OTT in everyday life.
“We are seeing OTT becoming the premium video content platform of choice within the Asia-Pacific region, where several providers have experienced massive jumps in subscriptions during the past year. Users have shown that they are willing to pay for and accept the monetisation of OTT premium content through ads, so we expect that advertisers who make OTT a core part of their programmatic marketing strategies will gain a significant advantage,” said Vasuta Agarwal, managing director of Asia Pacific at InMobi.
The report shares additional insights on consumer preferences for OTT premium video platforms across the region, as well as their perceptions on ads on these platforms compared to cable TV, long-form videos, and short-form videos:
Over 40% of respondents in all markets rated OTT platforms as having the most immersive and engaging content as well as being the most ‘value for money’ Respondents in all markets were least likely to give up OTT platforms, would continue using them even if they were fully ad-based, and were most willing to pay for them At least 50% of respondents in all markets found ads on OTT platforms somewhat relevant, with the Philippines most receptive towards these ads OTT platforms also had the most influence on product selection and purchase among four out of the five surveyed markets, ranking in the top two influential platforms for Australia, Singapore, India and the Philippines Respondents from all countries ranked OTT platforms among their top two for watching and discussing content with their friends and family, indicating that it has captured the family viewing space. The Drum
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