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| Source: Viu. Song. |
Viu, a pan-regional over-the-top (OTT) video service by PCCW Media, the multimedia and entertainment group in Hong Kong, has hit 6 million monthly active users (MAU) across its markets in March this year. The number represents a 50% growth from 4 million as of November 2016.
Janice Lee, MD, PCCW Media Group, said, “We are excited with the rapid expansion of Viu around the region both in terms of the number of markets we serve as well as the speed of market penetration. It is indeed very encouraging to see the high engagement with our users who spend almost 100 minutes a day viewing their favourite content on Viu. This stickiness helps propel the business of our telco partners, benefits content providers, drives subscriptions and boosts the consumption of online advertisements for advertisers who leverage Viu’s regional platform to reach the Millennials who are more receptive to digital advertisements.”
Viu operates on a dual model of an ad-supported tier and a premium subscription tier of service. Statista recently published a study on revenue estimates of video subscription and online video advertising which showed strong CAGR of subscription and online video advertising revenue, reaffirming the merits of Viu’s two pronged monetisation strategy.
Viu operates on a dual model of an ad-supported tier and a premium subscription tier of service. Statista recently published a study on revenue estimates of video subscription and online video advertising which showed strong CAGR of subscription and online video advertising revenue, reaffirming the merits of Viu’s two pronged monetisation strategy.
Lee added, “Benefiting from the overall market growth of online video consumption and based on a strong product and content proposition, Viu’s subscription and advertising revenue growth has exceeded the industry’s estimate of market growth.”
Revenue estimation of video subscription and online video advertising (2015 to 2020)*
* Including Hong Kong, Singapore, Malaysia, India, Indonesia, the Philippines, Thailand and KSA. Rev = revenues, mil=million, VOD=video on demand
Source: Digital Marketing Outlook, Statista.
As part of its ongoing quest to be the preferred OTT video entertainment platform in Asia, Viu is introducing Viu Originals as a creative initiative to further enhance user engagement, adding value for both telcos and advertisers. In addition to Korean programs which are popular with Asian audiences, Viu Originals will ride on PCCW Media’s production expertise and experience to develop Korean, Chinese, Indian and Indonesian productions. Among others, Viu subscribers will be able to enjoy Chinese drama and variety shows from ViuTV, as well as Indian thrillers, dramas and comedies produced in collaboration with renowned Indian directors and premium Southeast Asian content for markets such as Indonesia.
Revenue estimation of video subscription and online video advertising (2015 to 2020)*
2015 rev
(US$
mil)
|
2016 rev
(US$ mil)
|
2017 rev
(US$
mil)
|
2018 rev
(US$
mil)
|
2019 rev
(US$
mil)
|
2020 rev
(US$
mil)
|
2015-2020
CAGR |
|
Subscription
(SVOD)
|
169
|
211
(↑24.8%) |
262
(↑24.2%)
|
326
(↑24.4%)
|
405
(↑24.2%)
|
501
(↑23.7%)
|
24.3%
|
Advertising
(AVOD)
|
433
|
599
(↑38.3%) |
818
(↑36.6%)
|
1,118
(↑36.7%)
|
1,537
(↑37.5%)
|
2,089
(↑35.9%)
|
37.1%
|
* Including Hong Kong, Singapore, Malaysia, India, Indonesia, the Philippines, Thailand and KSA. Rev = revenues, mil=million, VOD=video on demand
Source: Digital Marketing Outlook, Statista.
“This collection of exciting original content will widen Viu’s appeal to users, enhancing the loyalty of viewers to subscriptions and engaging consumers for advertisers,” Lee said.
Viu has entered into an agreement with SYS Productions in relation to the parties' collaboration in producing a Hallyu programme under the Viu Originals initiative entitled Song Ji Hyo’s Beauty Views, which is to be hosted by a celebrity from Korea variety show Running Man. The show marks a rare occasion that a Korean celebrity with mass appeal across Asia works with a regional OTT video platform in a production to share the latest fashion and lifestyle tips in Korea.
Song Ji Hyo’s Beauty Views will provide a refreshing approach, offering viewers an immersive experience and insights into Korean beauty and lifestyle trends. The show is expected to be popular with viewers and may feature episodes in which Song will travel overseas with Viu, interact with fans and share her experience of the products along with insightful advice on the latest fashion and style trends in Korea.
Interested?
Since launch in October 2015, Viu has been made available in Hong Kong, Singapore, Malaysia, India, Indonesia, the Philippines, Oman, UAE, Saudi Arabia, Qatar, Jordan, Kuwait, Egypt and Bahrain. Download the app
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