SINGAPORE – Today (December 8), The Trade Desk (NASDAQ: TTD) announced new, first-of-its-kind research in the Southeast Asia market, showing that 180 million consumers stream eight billion hours of over-the-top (OTT) content per month across Southeast Asia – making OTT one of the fastest growing media channels in the region.
OTT services enable viewers to stream professionally-produced video content over the internet on demand, from any device including smart TVs, personal computers or mobile devices.
The study, which surveyed usage and viewing habits on OTT platforms among 4,500 consumers, ages 16+ in Indonesia, Philippines, Malaysia, Singapore, Thailand and Vietnam, showed that COVID-19 has accelerated OTT adoption. More than half (57%) of OTT users say they’re streaming more OTT content during the pandemic. These habits are likely to continue even after COVID-19 with 73% planning to maintain or increase OTT consumption after the pandemic ends.
“The pandemic has ushered in an accelerated shift to OTT, and there’s no turning back. This is not surprising, given that many consumers have been spending more time at home, and OTT content is more convenient and more accessible than ever,” said Mitch Waters, SVP of Southeast Asia, Australia, and New Zealand, The Trade Desk.
“Our research shows, however, that this shift is only going in one direction. Advertisers understand this. They want to move their campaigns to reach consumers where they are, and so they can apply data to video campaigns in ways that are simply not possible via traditional channels, such as linear TV.”
Underscoring this point, the study also showed that OTT has the potential to seriously disrupt traditional primetime TV. The majority of OTT viewers (70%) prefer to tune in between the hours of 8PM-12AM, bringing streaming into direct competition with traditional TV for valuable primetime audiences.
Moreover, nearly one in five OTT viewers hadn’t watched any traditional TV at all in the three months prior to the survey.
Southeast Asian viewers are also looking to OTT for their favorite content, with 58% tuning in to OTT to watch their favorite programming versus just 48% on traditional broadcast.
As part of this shift, Southeast Asian viewers are willing to embrace ads for free content. Regionally, more than 100 million people use ad-supported OTT platforms, with the vast majority of viewers (89%) willing to watch ads in exchange for free programming.
“As streaming services continue to provide more and richer streaming content to fulfill growing demand for OTT content, brands can create engaging advertising experiences that Southeast Asian viewers are willing to consume,” said Waters.
“And with OTT, advertisers have the opportunity to invest in data-driven advertising approaches and platforms that will help them succeed in this new future of TV.”