2019 Promises a Shift to CTV for the APAC Market
It’s no secret that consumers and advertisers across the globe are starting to reconsider their relationship with traditional TV.
“Cord cutting” is on the rise – especially in Asia. A study by TNSglobal revealed that consumers in the region are migrating online with 64% of internet users consuming up to 1.6 hours of video content daily. eMarketer also predicted that APAC would experience the highest OTT subscription rate globally in 2018, while six countries in Asia (India, Malaysia, Philippines, Thailand, and Vietnam and China) rank among the top 10 watchers of online and streaming TV globally.
Consumers are drawn to the flexibility and customised viewing experience video on-demand providers, such as Netflix and Hulu, offer. At the same time, brands are eager to connect with this emerging audience, particularly younger demographics, that are no longer reachable en mass via traditional TV. For brands, there is value targeting consumers in their preferred channel of choice and the inventory delivers the same high impact as TV, but with vastly greater control when it comes to targeting and frequency control.
Publishers are also beginning to navigate changes in viewer behaviour to secure a loyal audience. Just last month, India’s leading video streaming platform, Hotstar, announced their intention to invest heavily in developing local and original content to secure viewer’s eyeballs amid the rising presence of global rivals, such as Netflix and Amazon Prime, in the region.
Integrating with a programmatic exchange, such as Rubicon Project, has helped many publishers solidify their programmatic sales strategies and drive demand for their unique CTV and OTT inventory. In 2018 Rubicon Project completed integrations with three of Asia’s leading OTT and CTV publishers, India’s Hotstar, Hong Kong’s myTV SUPER and Indonesia’s OONA TV.
Despite the rise in the amount of CTV and OTT inventory available to transact programmatically, a number of hurdles have prevented advertisers moving advertising dollars into these channels. Along with lack of standardisation for CTV measurement, the region is challenged by fragmentation, not only across providers and devices, but also across languages. For publishers, driving adoption requires the ability to both deliver a seamless user experience through advertising while also providing strong data and reporting back to brands.
In 2019, there is a real opportunity for publishers to tackle some of the barriers holding back adoption. As the year progresses, Asia’s migration to on-demand viewing will likely shift into a new gear, coupled with a heightened level of enthusiasm from brands to connect with this audience. All of this should further inspire publishers to take action and look for the right partners to help them on their journey.
Tags: APAC, cor, cord cutting, CTV, on-demand, rubicon project