The Streaming in Vietnam report brings us an overview of the industry and what marketers and businesses need to prepare to have a successful marketing strategy. Download the full report free or read our analytic article below.
The pandemic of Covid19 changed people's life habits and their working and entertainment styles. Vietnamese people are no exception. Recently, live streaming has become more popular than ever, covering a wide range of industries, including sports events, concerts, video games to other activities such as politics and news. Besides, the increase of smartphone users and the decline of cable television and similar services are also reasons to promote streaming activity. The Streaming in Vietnam report made by Statista brings us an overview of this industry in Vietnam and what marketers and businesses need to prepare to have a successful marketing strategy. Download the full Streaming in Vietnam report free or read our analytic article below.
The data from Statista reveal most Vietnamese internet users prefer reading newspapers rather than watching stream movies or music.
This conclusion is demonstrated through a survey with 1079 internet users in Vietnam 2020; from the results, 63% of the respondents use the internet to read newspapers, while 43% favor streaming movies or music, 43% search for information and shop online, and just 19% play games online. Besides, the report shows that watching streaming movies seemed like the main activity after text content. This is why live streaming is believed to be an outbreak in the upcoming years.
According to a survey conducted in Q3 2020, on average Vietnamese people spend 6 hours 28 minutes per day accessing the internet, 2 hours 24 minutes watching TV, 2 hours 12 minutes accessing social networks, 1 hour 8 minutes on a game console, and more than 1 hour listening to streaming music, etc.
The majority of people who use music streaming services online are adult people. Around 30% of music streaming services users in Vietnam are between 25-34 years old, 26% from 35-44 years old, and 22.6% from 45-54 years old.
Over the past, OTT TV has gradually become familiar to many Vietnamese families thanks to the many entertainment options, news, and learning..., especially during social distancing because of COVID-19. The survey of 1,005 respondents in October 2020 revealed 41% of households using OTT media services in Vietnam have 2 members, 26% have 3-4 members, 12% have 5-7 members, and 9% have more than 9 members.
From the data, 41% of households using OTT media services have an income of 10 to 24.9 million VND, 26% of households have an income of 25 to 49.9 million VND, and the two groups have the same rate of 12% at less than 9 million VND and from 50 to 74 million VND. 8% of surveyed households using OTT have an income of 75 million VND or more.
In Vietnam, revenue in the video streaming industry (SVoD) increased 3.24 times in 2021 compared to 2017. Specifically, the revenue in 2017 from video streaming reached 50 million USD and increased by 112 million USD to 162 million USD in 2021. It is expected that revenue will continue to increase rapidly and will reach over 300 million USD in 2025.
Video streaming services users in Vietnam have grown steadily over the years. According to statistics from the report, the number of video streaming users in 2017 reached 3.4 million, but by 2020 has jumped to 5.1 million and is expected to grow to 7.5 million by 2025.
Popular service providers to watch video content in Vietnam, according to statistics, include 86% Video sharing platforms (Facebook life, Twitter, Instagram Real, etc.), 64% TV (free or paid), and 48% OTT (free or paid). Youtube is the leading platform for streaming movies among internet users in Vietnam in the 2nd quarter of 2021. Behind are local platforms (16%) Google search (12%).
As of 2nd quarter of 2021, the most subscribed paid streaming services in Vietnam are as follow: FPT Play (25%), Netflix (21%); VTV Go (13%); My TV (8%); K+ (6%); Vettel TV (5%).
In recent years, online music services have become more prevalent in Vietnam and have dominated and gradually changed the music download habits of Vietnamese people. When using music streaming, the user listens directly to the internet without sometimes owning them.
Well-known companies in music streaming include Spotify, ZingMP3, Nhaccuatui, Soundcloud, etc. These services are mostly free, but if users want to download music to listen to offline or turn off ads, they will need to upgrade to the paid version.
According to Statista, the music streaming market revenue reached 7 million USD in 2017 and doubled to 15 million USD in 2020. With more than 68 million internet users (accounting for more than 70% of the population) by 2021, according to Statista, the number of music streaming users (SVoD) is equivalent to 2.3 million people. It is predicted that this number will reach 3.2 million users in 2025.
The leading apps for streaming music in Vietnam as of the 2nd quarter of 2021 among GenZ are Youtube (46%), Zing (18%), Spotify (12%), Nhaccuatui (7%), Soundcloud (6%).
The survey among 500 Vietnamese people aged 18+ in January 2021 showed that 31% of respondents spend 1 to 3 hours watching other people play games online, 24.8% less than 1 hour, 15.4% from 3 to 7 hours, 12.8% from 7 to 15 hours, 11% never watching game streaming and 5% more than 15 hours. The number of internet users who watched or listened to podcasts in Vietnam increased by 4.9% from Q3 2019-Q3 to 2020.
The report also reveals the activities of Vietnamese gamers. In general, they spend 3.1 hours per week watching other people play video games online, 3.1 hours watching esports tournaments, 3 hours watching traditional sports on television, and 3.4 hours watching traditional sports online.
Besides, the most popular sport and fitness content online among people in Vietnam as of May 2021 includes daily workout lessons (57%), coaching for specific parts of the body (44%), a healthy diet (44%); workout tips (38%); etc.
The report from Statista showed that the daily time Vietnamese people spend watching TV and streaming content increased throughout the years from Q2 2018 to Q3 2020. In comparison, the time spent using music streaming services decreases in the same period.
Smart TV was recorded as the primary devices that Vietnamese people use for watching video streaming accounting for 66% of the respondents in the survey, smartphones (61%), Laptop (53%); Normal TV (30%); Tablets (23%); Desktop computer (16%); Others (1%).
60% of Vietnamese in the surveys showed that they choose a free service that shows ads when just 15% pay a reduced fee for fewer ads and 25% pay for an ad-free experience. This data also shows that Vietnamese people's acceptance of paid entertainment applications is low, and they are willing to accept the streaming experience along with the ads.
Another exciting piece of information the report brings us is that 53% of Vietnamese respondents showed that they purchased after watching ads on OTT, while 40% just searched them online.
Livestream was embraced by the younger generation and predicted to change internet users' behaviors. In addition, streaming is also expected to quickly become an important form of marketing that businesses cannot afford to miss. Download the Streaming in Vietnam report to get the detailed data free here.