However, traditional TV still holds the largest share of TV watching (46% in Australia, 36% in Singapore), as opposed to paid subscription services such as Netflix, which captures 31% of viewing time in Singapore and 35% in Australia.
This was revealed in two new research reports on Australia and Singapore, commissioned by marketing software company dataxu and conducted by market research agency Sapio.
The survey sought to provide a clearer picture of ‘Advanced TV’ – meaning any form of TV beyond the traditional realms – and found that classifications of TV have also changed in the minds of consumers.
In Australia, when asked to define paid subscription services, nearly half (46%) of consumers surveyed opted for the term ‘digital video’, whereas 43% defined it as ‘TV’. In Singapore, the number was much higher with 65% defining it as ‘digital video’ as opposed to ‘TV’ (28%).
Perhaps unsurprisingly, Netflix was the dominant streaming service in both markets, with 55% of consumers in Australia owning a subscription and 46% in Singapore. Local streaming service Stan is a close second (34%) in Australia while Amazon Prime (10%) sits at a distance in Singapore.
Media agencies are ready to be connected
The survey also looked at how media agencies and brands are investing in Connected TV/ OTT and found that, in both markets, most media agencies, brands and advertisers are already buying inventory.
The breakdown of spend on TV was also similar in both markets, with traditional TV just getting the most amount of ad dollars, followed closely by newer formats:
- Traditional linear TV (21%)
- Connected TV (19-20%),
- Video on Demand (16%),
- OTT (14%)
- Addressable TV (13%)
Respondents predicted that Connected TV buying will increase by at least 30% over the next five years and, within this timeframe, 90% of businesses expected spend on Advanced TV to increase over the next five years.
The interviews were conducted online by Sapio Research in March 2019 using an email invitation and an online survey. In Australia, 100 interviews with businesses and 1,005 with consumers were completed, while 106 interviews with businesses and 1,003 with consumers were completed in Singapore. Businesses surveyed were split almost evenly between media agencies and brand advertisers for both markets.
Sourced from dataxu; additional content by WARC staff