As recently shown in various market reports across the sector, pay-TV and satellite networks’ market shares have been shrinking gradually in the past few years in Vietnam, making way for the rapid growth of OTT streaming services.
The pay-TV market in Vietnam is highly competitive, with multiple local operators slashing their subscription prices to attract viewers at the expense of their competitors. ARPUs thus remain low, with platforms struggling to achieve sufficient margins.
On the flipside, Vietnam’s OTT market has been growing rapidly, with the COVID-19 pandemic prompting more consumers to adopt these services. This has sparked fierce competition between local and foreign players who are vying to raise their competitiveness to win the hearts of local consumers. The launch of VieON application in June 2020 is the latest ambitious effort to win the lion’s share of the market, with its focus on delivering authentic content and seamless experiences to local audiences. The fact that no one player has truly dominated the Vietnam OTT TV market proves that the market is still up for grabs and you could perhaps have your cake and eat it too!
Vietnam in View 2021 will explore the different business strategies that will be adopted by pay-TV operators to stay relevant to survive, as well as look at the winning formula to stay ahead in the domestic OTT video streaming market.