OTT (over the top) streaming services like Netflix and Disney+, and platforms like YouTube, are transforming viewing habits in the living room, the office and on-the-go with mobile. In a recent study conducted by Nexxen in partnership with Milieu, Navigating the Future of OTT Marketing in Singapore, some 560 survey respondents from the country revealed their preferences and habits around advertising platforms and formats.
According to the study, free, ad-supported platforms are popular among Singaporean consumers, 60% of whom identify cost as a key factor in their choice of video streaming platform.Â
Meanwhile 51% of surveyed consumers in Singapore said they watched content on ad-supported streaming platforms such as meWATCH, Singtel CAST, Viu, iQIYI, WeTV, Tubi TV, and Viddsee multiple times per week. Some 35% indicated that they watched once a day or more. Among the ad-supported content viewers, meWATCH was the most popular streaming platform.Â
The format and delivery method of ads clearly matters. According to Nexxen’s research, viewers prefer:
As part of Nexxen’s research to chart and understand the growth of the OTT market in Singapore, the advertising technology company also sought insights from current and potential OTT advertisers.Â
Nexxen surveyed 60 Singapore-based advertising professionals, with the group consisting of those working in digital marketing with decision-making capabilities. Respondents were consulted to gauge their adoption of and sentiment around OTT advertising, as well as the benefits that those who had adopted had seen.
The data suggests that 50% of advertisers are planning to incorporate OTT into their media strategies within the next two years. Nexxen observed that 73% of Singapore-based advertisers hold a positive impression of OTT advertising and expect to factor it considerably into their overall marketing mix in the next 2-3 years. Additionally, more than a quarter of advertisers see potential to outperform traditional media in this sector.Â
Moving forward, Nexxen expects that OTT advertising will continue to grow in Singapore and the wider region, and notes that it is an exciting time to watch how this channel continues to make headway in the marketing landscape.
The survey cohort consisted of two groups: 500 consumers who regularly engage with ad-supported video content, and 60 advertisers working in digital marketing with decision-making capabilities. The first two sections of the report focus on the consumer / viewer experience, while the final section concerns advertiser insights.
For the full report, which includes more data as well as generational insights, visit this link.
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