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At a recent event held by AVC, Tencent Digital News unveiled the "2017 OTT Operational Big Data Blue Book," which leverages extensive operational monitoring data from Aowei Cloud Network. This publication provides an overview of the latest trends in China's OTT industry during the first half of 2017 and forecasts future developments.
Li Wei, General Manager of Ovi Cloud Network Assistant and head of the Home Internet Big Data Division, presented the key insights from the blue book. According to Li Yu, during the first half of 2017, China's color TV sales saw a decline, with only 21.81 million units sold, representing a 7.3% drop compared to the previous year. Despite this, OTT users maintained strong engagement, with 81.12 million monthly active terminals, marking a 17.9% increase year-over-year.
Li Yu emphasized several significant aspects of the OTT landscape. First, OTT has undergone both quantitative and qualitative transformations, reaching a scale comparable to traditional television, which serves approximately 250 million households. Second, major players like BAT are investing heavily in OTT, with billions being poured into smart TV manufacturers. Third, user adoption is robust, with over 390 million OTT subscribers by the first half of 2017, featuring 47.39 million sets of terminals, and 58% of users engaging with their devices for more than 20 days. Fourth, the content available on OTT platforms is extensive, with over 58,000 resources in 2017, which is 27 times greater than traditional TV offerings. These resources cover 75% of all online content and 87% of high-quality content released in the first half of 2017. Additionally, advertisers have shown increased interest in OTT, with advertising revenue reaching 1 billion yuan in just six months, surpassing the annual revenue of 980 million yuan generated by OTT advertising in 2016.
On the smart TV platform, video media and live channels now hold similar influence, and on the broader TV platform, daily active users of video media are comparable to the scale of second and third-tier channels. Given that video media has only been around for seven years yet rivals the viewership of established channels, the rapid growth of user engagement in this space is remarkable.
The growth of video media is impressive, but its media value has not kept pace. For instance, the daily viewing audience of the top three video media outlets is roughly 10% of the top three live broadcast channels, and their advertising revenue is just 3% of the latter. Clearly, the value of OTT platforms is currently undervalued. As OTT continues to grow rapidly and awareness of its media potential increases, it will inevitably draw advertising budgets away from traditional TV and secure a larger share of ad spending.
In terms of the overall OTT industry, Li Xin noted that by the first half of 2017, the hardware market had stabilized, with little likelihood of significant disruptions in the near future. In terms of content, the OTT media ecosystem has matured, with BAT leveraging their strengths in premium content coverage to attract user traffic through targeted distribution strategies.
This comprehensive analysis underscores the transformative potential of OTT in reshaping the media landscape, offering both challenges and opportunities for traditional broadcasters and advertisers alike.