More people may have turned to streaming services during lockdown but not all are entirely satisfied with what they’re currently getting, whether that’s because of content availability or cost constraints; new research suggest there’s a substantial market for Advertising-based Video On Demand (AVOD) sports content.
Adtech firm Rakuten Advertising surveyed more than 4,500 adults across Europe and found that six in ten (62%) have turned to subscription video on demand services (SVOD) in the search for entertainment during this time, with the average person personally paying for up to two VOD platforms.
But paying for content is a barrier for some consumers: 26% say they have cancelled because the price was too high and 35% would cancel an existing subscription to pay for a new one.
The cost of home entertainment is also preventing users from watching the shows they want. In the UK, this was the case for sport (42%), followed by sci-fi/fantasy (26%), drama (23%) and comedy (19%).
Rakuten’s research further showed that two thirds (64%) of Europeans feel they have been missing out on content, citing sport (32%), documentaries (26%) and comedy (25%) in particular.
As well as cost concerns, the survey also noted an increase in illegal streaming and these two factors taken together, says Rakuten, back the argument for more AVOD services, although awareness of these is low.
While few people cannot have heard of Netflix and Amazon Prime, just 37% of UK consumers are aware of AVOD offerings, Rakuten reported; but 60% indicated they would likely to sign up to AVOD offerings when the service is described to them.
Across Europe, 26% would be interested in streaming sport on an AVOD service, placing this ahead of all other streaming options, including pay-per-view and monthly subscription services.
Anthony Capano, Managing Director, International, at Rakuten Advertising, believes it’s important to offer a variety of VOD solutions to avoid consumers being priced out of the market; AVOD “can associate brands with enjoyable content that is helping people escape today’s challenges”, he said.
“Not only can brands benefit from advertising on platforms that are entertaining people, they can be part of a new VOD model that responds to audiences’ desire for content that is accessible.”
Sourced from Rakuten Advertising