Providers of OTT video services must cultivate committed “binge” viewers and also ensure that popular content is readily available in order to succeed, according to research report from Conviva, a US-based specialist in OTT delivery.
Conviva, which help companies optimise the delivery of video, found that catering to demands of binge viewers is critical for OTT video services.
The survey found that unavailable episodes – defined as either impossible to find, or delivered within a sub-par playback experience – prompt nearly half of all OTT binge-watchers to give up on a series, with half of them neutral-to-unlikely to ever return.
In fact, of the 750 binge-watching consumers surveyed, only 22% of respondents would wait for an episode to become available.
The results of the survey also demonstrated that quality appears to be more important than quantity for binge-watchers. Indeed, only 11% of viewers would replace an old series with a new one (and only if the new series promised to be great).
Furthermore, in a nod to the importance of retaining viewers, the research indicated that once a customer stops watching a series for any reason, they’re unlikely to return. More than half of the respondents said they were less than fully committed to return to a series once they stop watching for any reason.
The survey also revealed the very real financial opportunities and implications of cultivating committed, engaged audiences.
“Binge-watchers represent dedicated consumers,” said Hui Zhang, CEO of Conviva. “As the line between OTT consumption and content creation blurs due to shifting viewing models, publishers need to ensure they’re building long-term value with viewers. Conviva helps the world’s top media and entertainment companies analyse, benchmark and optimise engagement through a 360-degree view of the entire video delivery ecosystem, ensuring an optimal binge-watching experience with every click of ‘Continue’.”
The survey also looked at the type of hardware viewers are using to access OTT content and found that laptops and desktops remain king for OTT viewing. “One quarter to just more than a third of viewers use devices ranging from Pay TV to game consoles, with the majority still watching from a computer or laptop,” the report stated.
The report is called “Binge Watching: The New Currency of Video Economics,” and is based on a recent survey of 750 binge-watching consumers.
Conviva conducted the survey in mid-2015, interviewing 750 consumers that fell within the key demographic of OTT viewers ages 26-34.