IAB Ireland has published details of a new survey on video on demand (VOD) which shows that two thirds of adults have viewed VOD within the last six months.
“The Power of VOD 2” was launched this week at the annual IAB Video Connect conference at the Guinness Storehouse Dublin. The research, which conducted by Nielsen, focused on the reach and profile of VOD users, the trends emerging in VOD consumption, time spent viewing and reactions to advertising.
In terms of the two-thirds of Irish adults have viewed VOD in the last six months, the figures skew higher for Adults 16-34 (87%) and also for Housekeepers with kids (84%). Interestingly, 47% of Adults 45+ have also watched VOD in the past six months, illustrating that VOD consumption is becoming more and more mainstream.
The research also noted that daily VOD consumption has increased by 5% in the last six months. Again looking at specific demographics, the highest increases in terms of daily consumption are among Adults 16-24 (+12%) and Adults 45+ (+7%)
According to the research VOD delivers hard to reach audiences for advertisers with 71% of 16-34 VOD viewers are more likely to be light/medium TV viewers. More than half (56%) of 16-24s claim to watch more VOD than TV.
Not surprisingly, free services are the most popular platforms and deliver the highest reach and 86% of VOD viewers accessed VOD via free platforms eg. broadcast players, TV3, RTE, All4 as well as YouTube and other social channels.
The research also noted that advertising in and around VOD content leads to further brand engagement and some 28% of VOD viewers searched for a brand as a result of seeing the video ad.
“IAB’s Power of VOD 2 research, demonstrates that Irish consumers strong engagement with VOD continues to accelerate in 2015. It is not surprising that brands are increasingly harnessing the power of VOD in their advertising campaigns’ says Maeve O’Meara, marketing manager, IAB Ireland.