Tuesday, 4 June 2019

Global SVOD Subscriptions Revving Up Towards 1 Billion

                                 Image credit: Tubefilter

“The global SVOD landscape continues to evolve at a rapid pace as consumers in all regions embrace streaming subscriptions” [1]

A new study conducted by Digital TV research, predicts that globally, between 2018 and 2024, the number of gross video on demand subscriptions (SVOD) [including those from big players such as Amazon Prime and Netflix, as well as rising stars [such as OONA OTT Global TV], will rocket up by a whopping by 86% from 439 million to 947 million. In fact, this year alone, the total will increase by 119 million [2].


Racing Towards 1 Billion

As total gross subscriptions are piling up to a billion digits, the count for net subscribers from the years 2018 to 2024, is likely to reach 531 million (constituting a rise of 175 million). To that end, by 2024: “the average SVOD subscriber will pay for 1.78 SVOD subscriptions – up from 1.43 in 2018” [2]. This news is arriving just a matter of days after an announcement by Digital TV Research that: “2019 will see the start of an SVOD boom in Western Europe with the addition of around 13 million subscribers to bring the total to 131.20 million gross SVOD subscriptions by 2024 [3]. This will be lead by the soon to be victorious, Disney+ offering, which will be up and running this autumn.

China & the US Predicted to Continue Dominating the World SVOD Stage

The leading analyst at Digital TV, Simon Murray, stated that: “China overtook the US in 2018 to become the gross SVOD subscription leader. China and the US will together account for 59% of the global total by 2024. However, this proportion is down from 63% in 2018; indicating that other countries are growing faster” [2]. In fact, it is expected that by 2014, fifteen countries will boast over 10 million video on demand subscriptions, thus accounting for 86% of the global total [2].

Major Players: Outlook For 2024

The research undertaken by Global SVOD Forecasts indicate that from the major heavyweights, by 2014: Netflix is likely to chip in 21% of the global total (amounting to 203 million subscribers); followed by Amazon Prime Video at 13% of the global total (125 million); China at 31% of the global total (289 million); Disney+ at 75 million and 255 million from other players [3] such as OONA Global TV.


OONA Global TV & the SVOD Advantage

2018 saw the launch of new innovative next generation entertainment platforms. [One of these was OONA Global TV, which is currently set up to offer its SVOD and AVOD services to 185 million Indonesians, and is well on course to offer the same to billions of people in the US, other parts of Asia, Africa, the Middle East, South America and Europe, with some coming into fruition this year]. [OONA] along with “a substantial number of other companies that have re-aligned strategies against a backdrop of major media acquisitions, are setting the scene for the next wave of SVOD evolution in 2019 and 2020” [1].


This unstoppable trend is being driven by various factors. Firstly, more and more people are boosting their enjoyment factor by forking out for smart televisions; secondly, broadband quality is improving significantly; and thirdly, consumers are now being offered an excellent choice of services [1], such as the extensive range of OONA+ Premium options, which offer great flexibility, and suit everyone's lifestyle and pocket book.

Giving Consumers What They Want

The three essential ingredients demanded by consumers comprise: price, quality, and original content [4]. Moreover, the movers and shakers at platforms such as Netflix and OONA, are mindful of experts' perspectives, such as that of David Sidebottom, Principal Analyst at Futuresource Consulting, who believes: “Consumers are seeking a combination of functionality, high-quality original content and low price.” And this is exactly what they should get...

                                  Image credit: Coral Springs Talk
Choice is King

“Options” is the watchword of all savvy consumers. - And this is one reason why OONA TV is so successful. OONA users can easily add the OONA+ to their free AVOD service. -The latter gives them hundreds of top local and international channels, not to mention virtual currency rewards for watching the programs they love, and the ads that interest them, and can save them time and money. The OONA+ SVOD Premium option can be accessed at any time, whether it is for just a day, a weekend, week, month or year.

OONA consumers enjoy a whopping five choices:

Option 1

Viewers do not have to pay subscription or data charges. This is because OONA's AVOD (ad-based live & on demand video service) is largely funded by personalised ads which are regularly updated according to what branded products each individual consumer is interested in at the time.

Option 2

OONA's SVOD (subscription based live and on-demand video service), offers viewers the choice of paying for specific premium content on a daily, weekly, monthly, quarterly or annual basis.

Option 3

OONA's TVOD (transaction-based live and on-demand video service), provides a pay-per-view option. So for example, if a couple just want to enjoy a newly released premium film on the odd Friday night or weekend, then they do not have to sign up for an extended period of time, and be burdened for paying for more content than they really want, like they may have to do with other platforms.

Option 4

Viewers can unlock premium content by using their tcoins (OONA's virtual currency rewards which can be used for telcom products, free phone minutes, branded goods and services, discounts, meals and other fun things). These tcoins are easy to accrue from watching various channels, looking at ads, sharing content with friends and family, and interacting with OONA's AI Genie in the app, OONAbot, who personalizes their content, and ensures that they get the best possible CX. The tcoins are stored in a personalised virtual wallet.

Option 5

Premium pay-TV content can be easily included in the user's telcom data plan bundle.

Exceptional Flexibility 

OONA's exceptional flexibility had proved incredibly practical for: families who want to watch special content at weekend get togethers; couples who want a fun night in to enjoy special live entertainment events, or a recent film release; and adolescents' school holiday periods.

Keeping Financial Commitments in Check

It is also an excellent system for when consumers have a temporary change in circumstances, such as unexpected unemployment, or other issues. They can take a break for as long as they like, enjoy everything OONA's excellent AVOD service offers, and then resume with the OONA+ SVOD add-on, as and when they are ready. And again, this can just be for the odd day for super live sports specials; or for certain weekends, holiday time, and so on.

Getting the Best of All Entertainment Worlds

OONA's cutting-edge AVOD and SVOD services can also work in excellent unison with another platform such as Disney+ which is extremely well priced, and can deliver a number of favourites only available via that platform. By just having two services like this, navigation and everything else is kept simple, and the cost is low. - And after all, entertainment is meant to be fun, not complex and expensive...

References

[1]. Futuresource (2019). “Futuresource SVoD Status & Outlook Report - Worldwide Apr 19.”

[2]. Digital TV Research (2019). “Global SVOD subscriptions race towards 1 billion.”

[3]. O'Halloran, Joseph (2019). “Global SVOD subscriptions near 1BN mark.”

[4]. Futuresource 1 (2019). “New Services Set to Drive SVoD Revenues up 25% to USD$36 Billion in 2019.” https://www.futuresource-consulting.com/press-release/media-entertainment-press/new-services-set-to-drive-svod-revenues-up-25-to-usd-36-billion-in-2019/   Accessed 4 June. 2019.
                             
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