How many hours have you spent on your video streaming service of choice? The pandemic has kept many people largely to the confines of their houses, even rooms. Reports indicate that the video streaming market worth skyrocketed to $71.5 billion in 2021. We at InsightzClub, a tech-based, regional market research start-up, set out to identify key consumer metrics in South East Asia with respect to video streaming. Here are 3 things you need to know!
YouTube reigns supreme
Undoubtedly, YouTube captures the largest market share, as InsightzClub identified close to 88% of consumers in South East Asia often used the app. The sheer variety in both content and content creators, along with no subscription fee explain the firm lead YouTube holds in the video streaming market. Netflix comes in a distant second at 20%. In line with subsequent analysis, pricing was the most significant determinant of a consumer’s chosen video streaming service.
Budget and accessibility first, content second
Respondents were most swayed by free and/or low subscription fees – a combined total of 51% of collected responses. Accessibility, or the availability of subtitles, were a surprise finding for us at InsightzClub. One third of participants indicated a preference for video streaming services with subtitles. This may point to an increasing affinity for foreign content among South East Asian residents. Slow streaming and constant buffering can quickly become frustrating for new subscribers. Per our analysis, video buffering issues was a major deterrent for close to 20% of respondents.
One hour of weekly video streaming at least
We now spend an increasing amount of time at home, impeded from outdoor activities and casual shopping adventures. Streaming your favourite shows or tuning in to YouTube ‘How to?’ videos has become the pastime of choice for many amidst the pandemic. InsightzClub’s participants affirmed this notion, where 83% of individuals spent at least one hour streaming content on their favourite service.
InsightzClub is a tech consumer insights firm with multiple consumer insights solutions using active and passive data.
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