HOOQ, the other Southeast Asia subscription video on-demand (SVOD) platform that wants to go toe-to-toe with Netflix (Malaysia’s iFlix also hopes it can punch above it weight), has gotten a $25 million cash infusion from its main investors – SingTel, Warner Bros. and Sony Pictures.
Netflix has joined the long list of over-the-top services that are looking to use South Korean dramas as a lure to draw new viewers in Asia, while at the same time making its own service more competitive to local services in South Korea.
The company today announced it had contracted for a 12-episode original series based on a South Korean online comedy series. The series will debut in 2018.
Some good news for the home entertainment industry – depending upon which segment of the industry you’re part of: Consumers spent nearly $18.3 billion in 2016, a 2% increase from 2015.
Viewing time of live TV continued to decline in Q3, albeit by only a minute in from a year ago, as viewers increasingly tune in to time-shifted TV and online video.
Nielsen said live TV viewing per day slipped to four hours and six minutes in the third quarter, a minute less than in Q3 2015, and a much smaller decrease than the six-minute drop between Q3 2014 and Q3 2015.
The extra minute went to DVR viewing, which increased to 29 minutes from 28 minutes.
Iflix, the Netflix wannabe that has gained a toe-hold in some Asia-Pacific countries, is extending its content reach, signing a multi-year programming deal with Pakistan’s entertainment channel Hum TV.
Iflix is set to deploy in Pakistan this year, so the content deal – which includes dramas and other episodic programming – gives it a bit more panache with Pakistani audiences. Included in the deal are shows like Bin Roye, Humsafar and Udaari.
Call it the “three-strike rule.” A new survey from CDN Limelight found that 78% of OTT viewers will tolerate two buffering occurrences, but will abandon the video after three.
Buffering remains the No. 1 frustration for viewers, especially as high-speed broadband becomes more common.
Netflix is now available to Liberty Global customers in a pair of European countries, part of its deal with the international cableco that will give it direct access to millions of potential subscribers and help Liberty Global reduce churn and cord cutting, while also potentially attracting younger consumers to its larger service.
More big-name players are entering the subscription video on-demand brouhaha in the United States. This time, it’s AMC partnering with BBC Worldwide and broadcaster ITV – the two largest broadcasters in the United Kingdom – in a push into an already crowded market sometime in Q1 2017 with a service dubbed BritBox.
As famous ring announcer Michael Buffer would say, “Let’s get readdddy to rummmble!” The main event, Netflix vs. Amazon Prime Video, has gone global.
Programmatic ad spending in the U.S. grew more than 105% in 2016, with advertisers spending $6.18 billion for digital video ads purchased programmatically, up from $3 billion in 2015, a number that is expected to grow to more than $10.65 billion in 2018.
Global SVOD revenues are expected to grow nearly 61% to $32.18 billion in 2021 from $20 billion in 2015, a whopping 18X the $1.74 billion seen in 2010, with the APAC region being a key growth driver.
That revenue growth is reflected in strong consumer uptake globally, as the number of SVOD homes is forecast to reach 428 million, up from 248 million at the end of this year and 177 million in 2015, according to Digital TV Research’s Global SVOD Forecasts report.