SVOD OTT 선택 결정요인 및 오리지널 콘텐츠에 관한 논의

Abstract

The importance of original contents of OTT(Over-The-Top) services has increased as a way to strengthen their competitiveness. This paper estimates the consumer demand function for the SVOD(subscription VOD) OTT services considering that SVOD service is a differentiated goods and that consumer multi-homing behaviour exists. We find that consumers have different preferences for product attributes when selecting SVOD OTT services, and that there is heterogeneity of preferences depending on consumers’ demographic characteristics. This study also estimates the consumers’ WTP(willingness to pay) for the original contents of OTT services based on the estimated demand function and the change in the number of subscribers due to the increase in the number of original contents by domestic OTT firms. We find that consumers have a higher WTP for original contents than non-original contents and the increase rate of OTT selection in accordance with the increase in the number of original contents is also higher than that of non-original contents. The results provide that there is room for the SVOD OTT market to expand, if domestic SVOD OTT services increase the number of original contents, but the decline in the selection rate of Netflix, the leading service in the industry, is small.