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The future of video is mobile: Part 2 – The evolution of the payment ecosystem

Pay

This is the concluding part of a two-part series that looks at the rise of mobile as the preferred medium for video content consumption and the evolution of the video content and payment ecosystem on mobile.

Mobile has steadily evolved to become the preferred medium of consumption for content in emerging markets. The increase in demand for video on mobile(link back to the first article) is worth highlighting as mobile, with its ability to offer video anytime, anywhere at the consumer’s leisure, has become immensely popular for watching videos.

This has also translated into an evolution of the video content ecosystem which is today focused on bringing more video content to mobile. While most content is freely accessible, especially through streaming sites, mobile consumers are not shying away from buying video content on mobile.

Mobile video payment preferencesThe recent Global Video Insights 2014 that predominantly had respondents from India, Southeast Asia, Middle East and Africa, estimated th
at 67% of the respondents prefer to purchase video content by paying via their mobile carrier. Mobile consumers in the Middle East showed greater willingness to pay for video content via credit card or through store payment.

It is emerging markets, that exhibit such nuances where each market shows different patterns in the way content is consumed on mobile and the way it is paid for.

Another such notable trend was that for 71% of the respondents, videos not buffering while watching them, was an important factor especially in India. 53% respondents would even pay extra to download videos and prevent buffering.

As video consumption on mobile increases, it will help content providers unlock more value for the content they offer. Consumers are increasingly looking to access videos on mobile and even ready to pay a premium on connectivity for a smooth lag-free content experience. With 83% consumers saying they will increase the amount of time they spend watching videos on mobile in future, video content providers would need to come up with payment strategies that make this content access on mobile easier.

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