Key 2018 OTT Statistics: The Trends & Data We Learned from 3.6 Million OTT Subscribers
Driven by the multitude of connected devices and insatiable demand for entertainment, consumers are viewing video across smart TVs, phones and PCs – you name it. In the last year, media companies such as Viacom, Time, and Entertainment Studios have launched subscription video services to get a slice of the action. Our newly released report “The 2018 OTT Revolution” explores key 2018 OTT data and trends that can help media executives and digital content creators plan for the year ahead. We dove deep into the viewing patterns of consumers on the Vimeo OTT platform across 1.3 billion data points and found five takeaways that will help you succeed in 2018.
#1 The Netflix effect: apps can grow your audience by 50%
Although apps account for just about a third of Vimeo OTT’s subscriptions, over 50% of subscribers consume videos on apps. Call it the Netflix effect – viewers expect video to be available on every platform and device. Introducing apps to your marketing and distribution strategy can potentially grow your audience by 50% or more, and reduce churn.
#2 OTT free trials are crucial to driving conversion
Free trials are a great marketing tool to entice potential customers and give them a taste of what your service has to offer. We found that 60% of people who initially sign up for a free trial go on to become paying OTT customers.
#3 Even customers who subscribe via the web will require mobile access
Of over 73,390 customers who subscribed via a web browser (on a laptop, tablet, or phone), 75% went on to watch videos through one or more apps via their iPhones (nearly 32%), Android (19.8%), iPad (3.3%), and Roku (2.4%). We see subscribers moving beyond traditional desktop browsers to consume video on mobile apps. Creators and distributors should diversify their platforms to meet their viewers where they’re consuming video.
#4 Invest in top-notch content and experience to avoid churn
Providing a good user experience and ensuring content availability are key to customer retention. Apple has made extensive changes to its suite of products to provide an idealized viewer experience from any device. So it’s no surprise that we found users of iOS and Apple TV devices have been our most valuable customers, demonstrating the longest lifetime value across available apps.
#5 Tailor the length of content to your audience
Where possible, tailor the length of your video to each app for maximum engagement. We found that Vimeo-powered TV apps achieved higher engagement rates through long-form content (such as MHz Choice and Love Nature). Correspondingly services featuring short-form content (Black&Sexy TV, for example) are more popular on mobile devices. We also found that on average, 30-minute videos had a completion rate of about 80% while two-hour videos had an average completion rate of 65%.
*header picture credit: creative production studio Bliink
Read the full report to learn more about key 2018 OTT data and trends in “The 2018 OTT Revolution” – what’s driving growth and churn, strategies to build your audience, and how to succeed with OTT.