According to the latest research from Q&Me in Ho Chi Minh City, Netflix is the only foreign player among the top five video streaming services in Vietnam.
FPT Play, a service of FPT Corporation, one of Vietnam’s leading technology companies, has a market share of 39%.
In second place is Netflix with a market share of 23%, and VTVcab ON holds third place in the market with market share of 21%.
In fourth and fifth place are Vietnam Satellite Digital Television’s K+ Television, followed by Zing TV, which is managed by online gaming giant VNG Corp.
In order to attract Vietnamese viewers and establish a unique place in the market, Netflix, which has been available in Vietnam since 2016, has added Vietnamese content and South Korean dramas to its content library. According to the company, movies and popular TV serials make up the majority of its top 10 programs.
Q&Me’s survey also reports that 69% of survey respondents said that they spend two to four hours per day using streaming services. In terms of devices used to access content, respondents sited smartphones and smart TV’s as the media that they used the most.
Other Survey Insights:
• Most respondents watch streaming content at home, 45%with their spouse, 42% alone and 39% with their parents.
• The top three contents are (1) TV series and movies – 60%, (2) music – 50% and (3) entertainment shows – 48%.
• Less than 20% of respondents watch documentaries and animal / wildlife shows.
• Consumers want more content and eight out of ten respondents said they are willing to subscribe to new streaming services for more content and in order to do so, 41% said they are willing to cancel existing subscription and 43% would sign up for new services, in addition to their current services.
• Pricing of streaming services is a concern to respondents and 54% said they willing to watch ads and 43% agreed not to download content if that means a lower prices.