Source: StreamingMediaGlobal.com, 24 October 2018
The growing number of over the top (OTT) streaming video services face being left behind if they fail to keep up with consumers ever increasing expectations, according to a new industry whitepaper.
OTT Insights: Uptake, perceptions and the worldwide evolution 2018, released by Switch Media – a world leader in OTT streaming technology, reveals a growing dependence on streaming and therefore a new level of demand and expectation which, if left unmet, may have viewers switching off.
It says: “Consumers are enthusiastically lapping up streaming technology, but also have high expectations when it comes to how the content is delivered to them.”
Insights from exclusive research contained within the whitepaper found that the streaming experience is an ongoing issue for many. The top five issues raised by consumers include buffering, ad placement and transitions, content availability, loading times and crashing.
Switch Media CEO, Mark Johns, said the OTT streaming industry is rapidly evolving, creating new opportunities and new challenges.
“We are seeing the introduction of an ever-growing number of streaming services, an increase in original content and exclusive deals, the move towards aggregator sites offering free and paid content, and the debut of immersive content,” Mr Johns said.
“But the biggest challenge is that viewers have a near zero-tolerance policy to poor streaming experiences and expect industry players to meet their growing demands, or face being left behind in a highly contested market.
Buffering around ads, poor timing of ad appearance, repetition of ad content and too many ads were among the main issues identified by consumers.
Based on findings from research by Stable Research, exclusive to Switch Media, the whitepaper reveals some significant and enlightening insights and stats around current media viewing habits, perceptions and expectations. These include:
- Buffering is the biggest issue (50 per cent) followed by ad placement and transitions (41 per cent), content availability (32 per cent), loading times (29 per cent), crashing (24 per cent), content searchability (21 per cent) and image quality (19 per cent).
- 92 per cent of streaming service consumers are likely to change their viewing behaviour due to poorly inserted ads.
- On average 2.6 ads during one hour of streamed content is perceived as tolerable;
- 61 per cent of consumers prefer one long advertisement, as opposed to multiple shorter ads;
- Consumers want to be rewarded for the length of time they stay tuned to a video stream, with 71 per cent saying they should see fewer ads after “binging” on a program;
- The most popular place to watch streamed content is the living room (86 per cent), followed by the bedroom (57 per cent), while 15 per cent viewed streamed content while in the bathroom or on the toilet; and,
- Foxtel Go was ranked the best for ad placement, followed by SBS and then free-to-air operators.
With the content streaming industry surging across the globe, Mr Johns said the whitepaper plays an important role in better understanding the current streaming climate and the issues facing content providers.
“Understanding these key pitfalls within Australia’s streaming landscape gives the industry as a whole a better idea of how to keep consumers engaged and gain insights on what industry players can do to remain relevant,” he said.
“A key focus of our research was to shed light on one of the biggest challenges the industry faces – monetisation- and help the industry succeed in this lucrative and booming market. ”
For more information and insights, download the whitepaper here: OTT Insights: Uptake, perceptions and the worldwide evolution 2018
About Switch Media: Founded in 2006, Switch Media is a world leader in delivering online video content for a diverse range of industries, from broadcasters and content providers through to educational institutions and government. Utilising its multi-screen video platform, Media Manager, coupled with a world-class technical team, Switch Media deliver OTT video solutions for a superior Live and Catch-Up viewing experience – anywhere, anytime, on any device. Its services include content editing platforms, app development, tools to monetise content, through to the delivery of video to end users across multiple devices. switch.tv
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