Almost 43% of Singapore consumers have tried a new ad-supported streaming service since the outbreak of the COVID-19 pandemic and of those, 81% say they will continue to do so, according to a study by Unruly.
CTV consumption is on the rise in Singapore, with previous research by Unruly showing that 43% of Singapore consumers are spending more time watching CTV content since the start of the pandemic.
With financial concerns topping the list for many, 77% of Singaporean consumers plan to reduce the amount they pay for TV services: 34% plan to switch to free-ad-supported services, 33% plan to reduce the number of paid-for streaming services they use, and 29% plan to cancel their cable TV.
The acceptance of ad-supported services is in line with sentiments from other markets in APAC, with a prior study by IAS showing that the majority of consumers in Indonesia and Australia were willing to see ads in exchange for free streaming video.
Additional key findings from the Unruly study, surveyed 512 Singaporean consumers in September 2020, include that:
- 87% of Singapore's population now has access to CTV content through various devices, with 42% now owning three or more devices;
- 77% of Singaporeans say they would prefer to watch their favourite TV programmes for free with ads rather than pay for an ad-free experience; and
- 37% say the number and/or quality of ads is key to their decision to continue using an ad-supported service.
- 13% more likely to tell a friend about a brand;
- 14% more likely to buy a product;
- 6% more likely to visit a store or website;
- 7% more likely to search for a brand; and
- 9% more likely to have an improved opinion of a brand.
“Singapore consumers’ pivot to CTV is an opportunity for brands to reach audiences at scale in a highly targeted, personalised way that has, until now, not been possible,” said Rebecca Waring, global vice president of insights and solutions at Unruly.
Sourced from Unruly