This post is sponsored by Unruly.
With consumers looking for a means of entertainment at home because of COVID-19, and the price of connected TV (CTV) enabled devices becoming more affordable, it is no surprise CTV consumption continues to grow across the globe. But what does this mean for brands and advertisers in Singapore?
CTV presents a massive opportunity for brands by allowing them to convey their message through one of the fastest growing channels – combining the power of digital with the biggest screen in the house.
Though some may believe the advertising opportunity within CTV in Singapore is still building compared with other markets, leading video advertising platform Unruly suggests there is enormous potential here.
To help brands in this market navigate the transition to CTV, Unruly conducted a survey that identifies consumers’ attitudes to CTV in Singapore, as well as Singaporeans’ consumption habits and ad preferences, six months after the global outbreak of COVID-19.
So, what did the survey uncover?
1. CTV in Singapore = big opportunities
With connected devices becoming cheaper, and most new TVs arriving with similar functionality as standard, this has resulted in a massive 87% of the Singapore population now having access to CTV content through various devices, with 66% owning multiple devices – with smart TVs and game consoles being the most owned in Singapore.
2. Singaporeans prefer free, ad-supported streaming
Affordability is a priority among Singaporeans, with 77% saying they would prefer to watch their favourite TV programmes for free with ads, rather than pay for an ad-free experience.
Similarly, 77% of Singaporeans plan to reduce the amount they pay for TV services – 34% plan to switch to free ad-supported services, 33% plan to reduce the number of paid-for streaming services they use, while 29% plan to cancel their cable TV completely.
3. Increasing demand for CTV services
With several new streaming services such as Amazon Prime Video and HBO GO arriving in Singapore over the past year, the survey found that since the outbreak of COVID-19, 43% of Singaporeans have tried a new ad-supported streaming service since the implementation of the circuit breaker. Of those, 81% say they will continue to do so.
4. CTV ad experiences are more memorable
Unruly’s research also found that Singaporeans tend to remember ads they see on CTV better than those they see on linear TV – ads are more memorable when they are from a brand they have searched for (40%) or when they match the topic of the content they are watching (39%).
5. CTV ads perform better than linear TV across key indicators
Compared with linear TV viewers in Singapore, after seeing an ad on TV, ad-supported CTV users are 13% more likely to tell a friend about a brand; 14% are more likely to buy a product; 6% are more likely to visit a store or website; 7% are more likely to search for a brand; and 9% are more likely to have an improved opinion of the brand.
For more on the findings from Unruly’s CTV study, join the ad platform’s global VP of insights and solutions, Rebecca Waring, in her latest video, where she delves deeper into the research and outlines what the findings mean for advertisers trying to reach audiences in Singapore.
To view the full study, click here.
Unruly, which is part of Tremor International, surveyed 512 Singapore consumers in September 2020 for this study.