Video on demand – the technology that allows users to access personally selected video content, in their own time – is on the rise in Australia. The results of PwC’s Entertainment & Media Outlook 2015 show that here, consumer spending on video on demand (VOD) services will more than double over the next five years, from $176 million in 2015 to $360 million in 2019.
What are the habits of VOD users? This infographic, commissioned by online advertising trade association IAB Ireland is based on a September 2014 study of nearly 1,195 viewers.
Despite the fact VOD is viewed more highly during traditional prime time TV viewing hours, the survey found that rather than compete with TV services, VOD is in fact a complementary media form. This is reflected in the fact that 48% of respondents flagged up the ability to catch up on missed shows as a driver for using it, and only 5% of respondents did not have a standard TV service at all.
The main attractions for consumers are the same the world over, whether in Ireland or Australia: it’s the ability to select content according to personal preference and watch it when and where they want – a truly on demand generation.