Consumers worldwide are watching more online video than ever, with average consumption growing to of 6 hours and 45 minutes per week, according to a new survey.
This figure is even higher in Singapore, with the average Singaporean watching eight hours and 13 minutes of online video content each week.
This were the findings of the new “State of Online Video” report from Limelight Networks, which was based on 5,000 responses from consumers living in Europe, Asia (Japan, Philippines, Singapore, South Korea) and the US. Only those who watch one hour or more of online video content per week were polled.
Insights from report
What are some insights that could be gleaned? For one, performance issues with online video continue to turn Singaporean viewers off. Specifically, the experience of video buffering was cited as the most frustrating aspect of watching a video online (46%) followed by poor video quality of online content (32%), with more than half (59%) reporting they will stop watching a video if it re-buffers twice.
Singaporeans are also price-sensitive and will cancel services due to price increases. Some 63% of Singaporean respondents said that price is the reason why they would cancel a subscription video on-demand (SVOD) service. This is second to only Italy (70%) and exceeds the global average (55%).
Marketers will be glad to know that Singaporeans are tolerant of advertising in online videos. Indeed, 87% are not opposed to a short advertisement before an online video if the content they are viewing is free. However, they are less accepting of mid-roll ads in free content, and only 24% willing to accept multiple advertisements.
“Singaporean viewers are very savvy when it comes to exploring online mediums, especially for their entertainment needs. We expect this trend to continue in the coming years, especially in the area of growing video on-demand adoption,” said Jaheer Abbas, the senior director of Southeast Asia and India at Limelight Networks.
“Yet, service providers should be aware that factors such as price and quality have strong influence on viewers. To encourage viewers to make the switch from traditional television options, the issue of latency and quality at a competitive price need to be addressed. At Limelight, we seek to partner with businesses to make this possible, by enabling live broadcast streaming in less than a second, providing online viewers with the same experience enjoyed by broadcast viewers,” he said.
First published in CMO Innovation