By Jonathan Easton
With the current financial climate appearing more uncertain amid the global pandemic, consumers are becoming increasingly receptive to ad-supported video streaming.
In a new study of the UK, France, Germany, Italy, Spain and the Netherlands from Raktuen Advertising, 60 per cent of respondents said that they would sign up to an AVOD service such as ViacomCBS-owned Pluto TV. However, only 37 per cent said that they are currently aware of such platforms. Almost a fifth (18%) of respondents said that they predicted their usage of AVOD services will increase in the next month due to the coronavirus lockdown.
Over a quarter (26%) said that they would be interested in streaming major sports events on an AVOD service – surpassing interest in all other streaming options including pay-per-view and subscription-based services.
For those consumers that watch major sporting events, 26 per cent said they would be interested in streaming them on an AVOD service when this was described to them, placing this ahead of all other streaming options, including pay-per-view and monthly subscription services.
The growing interest in AVODs is contributed to a focus on financial situations, with 35 per cent saying that frugality has made them more receptive to ad-supported content.
Of the 4,500 adults surveyed, 38 per cent said that they are currently spending three or more hours a day watching video-on-demand services. VOD services were the second most popular way of consuming video content, with 30 per cent saying it was their preferred method of viewing. It was second to linear TV (48%) and ahead of video sites (11%) and social media (10%) – though the later two are expected to increase in interest as the lockdown continues.
Managing director, International, at Rakuten Advertising Anthony Capano said: “Giving consumers the opportunity to access premium, quality content for free, as well as enabling brands to advertise in a sensitive and relevant manner, is a necessary evolution of TV now and beyond the COVID-19 crisis.
“With over 50 per cent of people globally watching more streaming services, we can create a sense of escapism through entertainment. Brands have the opportunity to be part of this great content and connect with consumers via AVOD platforms at this time.”