The pandemic has significantly impacted the way people live, work, and entertain themselves, and the Vietnamese population is no exception. One emerging trend that has gained tremendous popularity in recent years is live streaming. From sports events and concerts to video games, politics, and news, live streaming has permeated various industries. The surge in smartphone users and the decline of cable television and similar services have further fueled the growth of streaming activities. To help marketers and businesses develop successful marketing strategies, we present an overview of the streaming industry in Vietnam, based on the Streaming in Vietnam report by Statista. You can download the full report for free or read our analytical article below.
I. Overview
According to data from Statista, the majority of Vietnamese internet users prefer reading newspapers rather than watching streaming movies or music. A survey conducted in 2020 with 1,079 internet users in Vietnam revealed that 63% of respondents use the internet to read newspapers, while 43% prefer streaming movies or music, 43% search for information and shop online, and only 19% play games online. However, streaming movies emerged as the primary activity after text content, indicating the potential for a streaming boom in the coming years.
The survey conducted in Q3 2020 also found that on average, Vietnamese people spend 6 hours and 28 minutes per day accessing the internet, 2 hours and 24 minutes watching TV, 2 hours and 12 minutes accessing social networks, 1 hour and 8 minutes on a game console, and over 1 hour listening to streaming music, among other activities.
II. User Demographics
When it comes to music streaming services, the majority of users in Vietnam are adults. Approximately 30% of music streaming service users fall in the age group of 25-34, 26% are between 35-44 years old, and 22.6% are aged 45-54.
OTT TV has gradually become familiar to many Vietnamese families, particularly during social distancing periods caused by COVID-19. A survey conducted in October 2020 with 1,005 respondents revealed that 41% of households using OTT media services in Vietnam have two members, 26% have 3-4 members, 12% have 5-7 members, and 9% have more than 9 members. In terms of income, 41% of surveyed households using OTT have an income of 10 to 24.9 million VND, while 26% have an income of 25 to 49.9 million VND.
III. Video Streaming
The revenue in Vietnam’s video streaming industry (SVoD) has experienced significant growth, increasing 3.24 times between 2017 and 2021. In 2017, the revenue reached 50 million USD, which surged to 162 million USD in 2021. It is projected to continue its rapid growth, with revenue expected to exceed 300 million USD by 2025.
The number of video streaming users in Vietnam has also witnessed steady growth. In 2017, there were 3.4 million users, which jumped to 5.1 million in 2020. This number is expected to reach 7.5 million by 2025.
Based on statistics, the most popular platforms for watching video content in Vietnam include video sharing platforms (86%), TV (64%), and OTT platforms (48%). YouTube is the leading platform for streaming movies among internet users in Vietnam, followed by local platforms (16%) and Google search (12%). The most subscribed paid streaming services in Vietnam include FPT Play (25%), Netflix (21%), VTV Go (13%), My TV (8%), K+ (6%), and Vettel TV (5%).
IV. Music Streaming
In recent years, online music services have gained popularity in Vietnam, gradually changing the music consumption habits of Vietnamese people. Users can listen directly to music on the internet without owning them.
Prominent companies in the music streaming industry include Spotify, ZingMP3, Nhaccuatui, and Soundcloud. While these services mostly offer free access, users can upgrade to a paid version to download music for offline listening or remove ads.
According to Statista, the revenue from the music streaming market in Vietnam reached 7 million USD in 2017 and doubled to 15 million USD in 2020. With over 68 million internet users (more than 70% of the population) by 2021, the number of music streaming users is equivalent to 2.3 million people, projected to reach 3.2 million by 2025.
The leading apps for streaming music among GenZ in Vietnam as of the second quarter of 2021 are YouTube (46%), Zing (18%), Spotify (12%), Nhaccuatui (7%), and Soundcloud (6%).
V. Streaming Content
A survey conducted among 500 Vietnamese individuals aged 18+ in January 2021 revealed that 31% of respondents spend 1 to 3 hours watching other people play games online. Additionally, 24.8% spend less than 1 hour, 15.4% spend 3 to 7 hours, 12.8% spend 7 to 15 hours, 11% never watch game streaming, and 5% spend more than 15 hours. The number of internet users who watched or listened to podcasts in Vietnam increased by 4.9% from Q3 2019 to Q3 2020.
Vietnamese gamers spend an average of 3.1 hours per week watching other people play video games online, 3.1 hours watching esports tournaments, 3 hours watching traditional sports on television, and 3.4 hours watching traditional sports online.
In terms of popular sport and fitness content online, the survey conducted in May 2021 showed that it includes daily workout lessons (57%), coaching for specific body parts (44%), healthy diet tips (44%), and workout tips (38%).
VI. User Behavior
Data from Statista indicates that the daily time spent by Vietnamese people watching TV and streaming content has increased over the years from Q2 2018 to Q3 2020. In contrast, the time spent using music streaming services has decreased during the same period.
Regarding devices used for streaming, 66% of respondents reported using Smart TVs, followed by smartphones (61%), laptops (53%), normal TVs (30%), tablets (23%), desktop computers (16%), and others (1%).
When given the choice, 60% of Vietnamese respondents prefer free streaming services that show ads, while only 15% are willing to pay a reduced fee for fewer ads. This indicates a relatively low acceptance of paid entertainment applications among Vietnamese users, with many opting for ad-supported streaming experiences.
Another interesting finding from the report is that 53% of Vietnamese respondents made purchases after watching ads on OTT platforms, while 40% searched for the products online.
In conclusion, the younger demographic has enthusiastically embraced livestreaming, which is anticipated to bring about a shift in internet user behavior. Furthermore, streaming is predicted to rapidly emerge as a crucial marketing avenue that businesses cannot afford to overlook.
Key Takeaways
- Live streaming is expected to experience significant growth in Vietnam, driven by the surge in smartphone users and the decline of cable television services.
- Vietnamese internet users prefer reading newspapers over watching streaming movies or music, but streaming is gaining popularity.
- The revenue in Vietnam’s video streaming industry is projected to exceed 300 million USD by 2025.
- YouTube is the leading platform for streaming movies in Vietnam, followed by local platforms and Google search.
- Music streaming services have dominated the music download habits of Vietnamese people, with revenues expected to grow in the coming years.
- Vietnamese users primarily stream music through YouTube, Zing, Spotify, Nhaccuatui, and Soundcloud.
- Watching game streaming and esports tournaments is popular among Vietnamese internet users.
- Sport and fitness content, such as daily workout lessons and coaching, has gained significant traction in online streaming.
- Vietnamese users predominantly stream content on Smart TVs and smartphones.
- Free streaming services with ads are more popular among Vietnamese users than paid services.
- Many Vietnamese users make purchases after watching ads on OTT platforms.
For more insights and support in navigating the streaming industry in Vietnam, contact our Vietnam team. They are ready to assist you in developing successful marketing strategies and seizing opportunities in this dynamic market.
