Marketing – The hottest OTT market with a lot of content. With limited viewing time, WeTV plans to enter the market next year, focusing on two main strategies, focusing more on producing its own content. To expand the license abroad, bring in “Zhao Lu Si”, a rising star from China as a “Global Brand Ambassador”, hoping to expand the market base. Unlock outstanding work statistics
Total video streaming or over-the-top (OTT) industry market in Southeast Asia. Or Southeast Asia (SEA) can be considered a market with good growth, but it is also a market with intense competition.
It is estimated that by 2023, the total OTT market in Southeast Asia will reach approximately US$3.42 billion. The value will rise to about $8.59 billion in 2030, an average growth of 14%.
With a total population of over 686 million or nearly 700 million people, it turns out that in 2022 there will be more than 200 million online viewers, with an average viewing service of about 48.6 hours per month per person. The total number of viewers who use the service to watch content is approximately 97 billion hours per month.
Among the major operators or players in this market, there are many. Of course, there must be WeTV or VTV in the foreground. VTV has a very strong market base in the Southeast Asia region with a number of subscribers. The second most subscribed video has nearly 200 million downloads. The main market is Thailand and Indonesia
Including the OTT market and also in Thailand, VTV is the market leader on behalf of Tencent (Thailand) Limited, which has been in the Thai market for about 5 years.
Ms. Kanokporn Prachayasit, Director of WeTV Thailand, Tencent (Thailand) Co., Ltd., said that the overall picture of Tencent’s operations follows the growth of WeTV in Southeast Asia and this results from the overall picture of video streaming or over-the-top (OTT) streaming in Southeast Asia where it has a Fierce competition from many branded companies in the market. But the market opportunity still has many good trends as well.
While emphasizing that, “The market is very competitive. Content production is always increasing. But the audience has limited time.
It reflects that this market is no less fierce. Different Marketing Strategies for Each Camp It is very important to compete for the audience’s time as much as possible. With content as the main focus
So WeTV Thailand is planning to attack next year (2024) to focus on connecting the ecosystem. There will be two main strategies: 1. Original content strategy or WeTV ORIGINAL.
And 2. A strategy for creating experiences for users to fully connect services from the online world to the offline world. And build a strong community
Each of these key strategies is driven by the idea that new content creation strategies for long-term growth for VTV are:
What more needs to be done is to produce original VTV content, produce Y series, produce creative work and collaborate with artist partners
Meanwhile, there is little to do. Buy content rights or licenses to create a syndicated series
“Content is the most important factor. We have to look for a more flexible and convenient model,” stressed the senior president of VTV Thailand.
The strategy guidelines are 1. ORIGINAL CONTENT STRATEGY OR WeTV ORIGINAL, led by the Y series content. The CHUANG ASIA idol survival program is the leading marketing program including original shows and various content directly transmitted by Tencent Video in 2023, WeTV will end the year by sending series. “Apprentice with a Clear Face.” “Apprentice in My Heart” is produced by Bravo Studios, a subsidiary of GMM Studios International. Simultaneous broadcast with China
Next year, WeTV is preparing to produce 6-8 WeTV ORIGINAL Y series with top producers such as Kongthup Production, Dee Hup House, Mandeework, etc.
Meanwhile, WeTV continues to create a major entertainment phenomenon. With the appointment of Zhao Lu Si, a rising Chinese star with outstanding performances. They have a global fan base as “Global Brand Ambassadors” who will help build WeTV brand awareness with a wide range of consumers. Moreover, Chinese content and Chinese artists are gaining popularity among Generation X, Y, and Z.
Today VTV is a leader in the Asian content market. Which includes series, anime, and various shows from China, Thailand, Korea, and Japan, and on the WeTV platform that provides services in Thailand, there is a total of more than 1,200 content, the largest of which is Chinese content, reaching 50%, and can be divided into two types: Chinese period series (60%) and modern drama. (40%).
On the other hand, Thai content is equally popular. In the past, he succeeded in building a good name and establishing a large market base.
“We will produce more Thai content next year. Since the audience for Thai content has increased by 2.5 times, next year it is expected to produce approximately 6-8 Y series with a wide variety of variety to spread the reach to the target group as much as possible. Includes Approach Working with production partners Mutually investing in artists and giving special incentives to partners who produce content that gets good reviews Producing the content ourselves makes us the copyright owner Can be marketed in many ways Can be developed abroad in many ways “There is no need to pay royalties as was the case in the past. “In the last four years, we have produced 56 original content,” Ms Cannockburn said.
Another important milestone for WeTV in 2024 is launching a huge project to pioneer the first Asian idol survival show from Thailand with CHUANG ASIA, a popular idol survival show from Tencent Video, looking for the first international girl group to emerge from Thailand. She revealed the surprise of working together for the first time with Jackson Wang as Lead Mentor and also from RYCE Entertainment. He came to take charge of the debut of the show’s first girl group
In addition, CHUANG ASIA has received good response from domestic and international investors including Have Fun Media, RYCE Entertainment, one31, GMMTV, and 411 Entertainment. Who participated in promoting the production of the program and developing the potential of debuting artists according to international standards. CHAUNG ASIA will begin broadcasting in February 2024. It can be watched worldwide on WeTV and broadcast on TV on Channel 1 31, and is also preparing to be broadcast on TV channels in South East Asia too.
2. A strategy for creating experiences such as launching a new “bubble” feature open to fans. You can chat and talk with your favorite artists and stars up close. Connecting experiences between brands and consumers in a new way and features for advertisers like the new VDO Splash screen that will help increase CTR by up to 100%, etc.
If we look at VTV’s performance in Thailand in 2023, we find that WeTV Thailand’s subscription revenue grew by 62%, with 45 million downloads and 13.5 million MAUs. As a result, it is the number one platform in advertising video on demand (AVOD) users and the second leader in subscription users. (Subscription Video on Demand – SVOD)
In addition, Thais increasingly prefer to watch WeTV content through home entertainment devices, with the proportion increasing by 30% compared to the previous year. According to the user group, the percentage of women is 70%, and 30% are men, and the main age group is 18-44 years, followed by 45-54 years, 11%, then 55-64 years, 6%, then 65 years and over, 4%.
User Access Services will be used through mobile applications at most 80%, followed by TV applications at 14%, the channel with the largest growth at 30% year-on-year. As for the last channel, the website, the lowest percentage was 6%, the VIP MAU user group. (monthly active user) increased by 100% and revenue from subscription services in Thailand grew by 62%.
The percentage of VIP users every day is about 25%, and they aim to raise the number to 50% through the strategy of preparing multiple packages in order to penetrate the needs of consumers and reach them as directly as possible. Whether the price is 129 baht per month, 339 baht per 3 months, or 1200 baht per year.
As for the content, if anime content contains 21% of the entire content, the group of men between the ages of 18 and 34 will be the most watched by 50%, as for Chinese content. With up to 55% of all content, women between the ages of 25 and 44 will be the most watched category with 80%, while Thai series with 24% of the total content. The group of women between the ages of 18 and 34 will be the most viewed, at 90%.
Meanwhile, in WeTV’s SEA market, the number of MAU (monthly active users) increased by more than 20% and revenue from subscription services increased by 40%.
From the strategic plan to both produce original content with leading production partners including searching for artists and actors to work on the WeTV project in collaboration with Headliner Thailand, an actor and artist development and management company.
A complete system that provides opportunities for artists to work in the entertainment industry in Thailand and abroad. All of this gives WeTV a strong ecosystem. Additionally, create an experience for the user group. We are confident that we will be able to increase the number of viewers of Thai content.
Increase 2.5 times by 2024
“At the same time, WeTV will continue to maintain its position as the best platform for streaming high-quality entertainment video in Asia. This includes continuing the mission of pushing Thai content to be a soft force on the global stage to create job opportunities for the Thai entertainment industry. As well as being a platform for It effectively increases 360-degree marketing opportunities for leading clients, marketers and media agencies.”
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