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Glow Points
A good description of economic conditions.
The impact of each economic indicator was discussed too.
Your reflections are well articulated.

Areas for Improvements for Additional points to be included:

For each economic indicator, describe it first, and discuss its impact on the industry you have chosen. This will give a better flow of your thoughts.

The significance of the industry to our economy, and whether any government support and policies helped the industry during the pandemic outbreak could have been researched and discussed too.

What is Next?
You can proceed to prepare your PowerPoint slides once you have added the additional points mentioned above. Please note that there will be no more feedback after this.

Cheers!

Josh Nathan

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As a whole, we cooperated well, work are done smoothly and can be completed by our own targeted deadline. Calls were all efficient and my teammates were also really resourceful and helpful, in terms of helping each other on some research we individuals could not find, as we split parts. During calls where we combine our resource together we looked thoroughly at each others parts and provide our thoughts and feedback about it. We would also do research together as a group.

One thing that I think we can improve on is about finding good, resourceful and reliable sources for our project. That so the part where our group spent the most time on, we had to check whether or not it was reliable and that it was considered our industry.

One thing I found interesting is that understanding and knowing the economic impact on the industry is not just important but also smart in terms of exploiting them to earn more profits. For example, Disney channel offering discount to boost subscribers in times of covid where everyone prefer to stay home instead of visiting the cinema. Thus, providing that offer would greatly attract many subscribers.

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Our team is really cooperative and have great teamwork. Almost everyone finished their assigned task on time so that we could continue our calls efficiently.

An improvement our group has made is by planning out all the tasks and responsibilities each member has and made sure we had sufficient time for every task before the project submission deadline. Our group also got together to discuss on every members' finding to further improve and make sure everything flows well.

What I think the group can work on is being more proactive during the call. It is mostly always the same few people talking and discussing during the call, which is not really helpful, especially when all the proactive members have trouble with a certain part. Another thing would be to be more punctual during calls. Everyone made time and pushed back other stuff to be able to call and discuss, so it would be extremely unfair when there are members who are late due to circumstances which could be foreseen and avoided.

One thing I found interesting was how an industry is able to impact a whole countries' economy as I always thought the a country's economy is only defined by the government and it's citizens. After our research, I was able to better understand what shapes a country's economy.

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I love the knowledgeable discussions we had during the calls, each one of us always had so much to say and things to share. each person did well for their responsibilities and in the end it came together well.

One thing that I think we can improve on would be that , sometimes we get a little tense during calls because each of us have different and many ideas so then it will clash sometimes, however we do mange to solve it but i think we can do better at solving it. Another thing is punctuality. sometimes some people might not come ontime and not say why and and by how long they would be late by which i think is quite irresponsible on their part.

One thing I found interesting was that the data is not so easy to find as it takes a lot of time. sometimes we feel like we have searched the whole of google and still do not manage to find it.

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The team is really great! We manage to research the related information and put them together. We also had meaningful discussions online on whether we should include certain information in the padlet. The team delegated the responsibilities better this time so we did not spend a lot of time looking for information online during discussion. Overall, I feel that we utilised the time we had well.

One thing that I think we can work on would be speaking up and contributing more during group calls. Some of us tend to be a little quiet during the call and only speaks when are asked to. It would be better if everyone contributes actively.

One thing that I found interesting when I was doing macro-analysis was the sectors that remained competitive and contributed the most to the GDP growth for years continuously. For instance, sectors like manufacturing and finance and insurance made the most contribution to the growth.

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Our team is able to assign all our teammates on a topic to research and provides sufficient time in completing our individual work. Moreover, our team also took out time in combining the different perspectives of our research to come out with the best elaboration for our padlet.

One thing that we can improve on is referring to much more reliable sources. A minority of our resources came from unreliable websites and may not be reliable to prove the statistics that we found.

One thing that I found interesting is the statistics of the unemployment rate in our industry. With clear reasoning and statistics, I was convinced to say that the unemployment rate decreased in our researched industry, with an increase in the unemployment rate in Singapore.

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Walt Disney offering a month of Disney+ for US$1.99 for a limited period

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Disney offers streaming service discount for a month to boost subscribers

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Walt Disney said on Monday (Nov 8) it was offering a month of Disney+ for US$1.99 for a limited period, as the entertainment giant seeks to stem a slowdown in paid user growth at its streaming service.

The promotion will begin on Nov 8 and will be valid for a week through Nov 14 for new and eligible returning subscribers in the United States and some other countries, Disney said in a statement.

Disney, which charges US$7.99 per month for its streaming service in the United States, recently hinted at a slowdown in subscriber growth in Disney+, leading to a rare Wall Street downgrade.

Disney+, which has Star Wars and Avengers franchises in its portfolio, picked up more new subscribers during the COVID-19 pandemic as theater closures prompted more people to turn to digital streaming to quench their entertainment needs.

As part of the promotions marking the launch of Disney+ two years ago, the company said it would provide other offers including an early entry into its theme parks for eligible subscribers.

Disney will report its fourth-quarter results on Wednesday.

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Disney offers streaming service discount for a month to boost subscribers

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Walt Disney said on Monday (Nov 8) it was offering a month of Disney+ for US$1.99 for a limited period, as the entertainment giant seeks to stem a slowdown in paid user growth at its streaming service.

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[1]Economic Survey of Singapore 2019
https://www.mti.gov.sg/-/media/MTI/Resources/Economic-Survey-of-Singapore/2019/Economic-Survey-of-Singapore-2019/FullReport_AES2019.pdf

[2] Economic Survey of Singapore 2020
https://www.mti.gov.sg/-/media/MTI/Resources/Economic-Survey-of-Singapore/2020/Economic-Survey-of-Singapore-2020/FullReport_AES2020.pdf

[3]GDP per capita for years 2019, 2020 and 2021
https://tradingeconomics.com/singapore/gdp-per-capita#:~:text=GDP%20per%20capita%20in%20Singapore%20is%20expected%20to%20reach%2059500.00,according%20to%20our%20econometric%20models

[4] Economic Growth in 2019
https://www.straitstimes.com/business/economy/singapores-economy-grows-07-in-2019-flash-data

[5]  Economic Growth in 2020
https://www.straitstimes.com/business/economy/singapore-economy-shrinks-58-in-2020-after-contraction-eases-to-38-in-q4-flash-data

[6]  Economic Growth in 2021
https://www.straitstimes.com/business/economy/singapore-economy-shrank-58-in-q3-better-than-estimate-4-to-6-growth-forecast-for

[7] Unemployment rate for Industry
https://www.channelnewsasia.com/singapore/in-focus-covid-streaming-killing-the-cinema-singapore-1993711

[8]Unemployment rate for industry describing the Netflix job opportunities
https://advanced-television.com/2021/11/18/report-netflix-hiring-tilts-towards-apac-countries/

[9] Unemployment rate for Singapore
https://tradingeconomics.com/singapore/unemployment-rate

[10] Inflation - netflix raising price
https://mustsharenews.com/netflix-raises-fees/

[11] Inflation - revenue of streaming services
https://www.statista.com/forecasts/1258543/video-streaming-svod-revenue-singapore

[12] Inflation - Singapores inflation rate in 2021
https://www.worlddata.info/asia/singapore/inflation-rates.php

Summary

[13] Increase in video streaming revenue
https://www.linkedin.com/pulse/video-streaming-revenue-set-soar-high-spending-singapore-giachi

[14] MTI resources ( an economic survey)
https://www.mti.gov.sg/-/media/MTI/Resources/Economic-Survey-of-Singapore/2020/Economic-Survey-of-Singapore-First-Quarter-2020/FA_1Q20.pdf

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Increase in unemployment rate in Singapore

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SINGAPORE - Retrenchments more than doubled to 8,130 in the three months to end-June, compared with the first quarter of the year, as unemployment climbed further, according to Ministry of Manpower (MOM) data released on Monday (Sept 14).

Retrenchments were sharply higher than the preliminary estimate of 6,700 released in July, as well as the first quarter figure of 3,220. The second-quarter layoffs brought the total number of job losses to 11,350 in the first half of the year.

Retrenchments in the second quarter were above the peak during the 2003 severe acute respiratory syndrome (Sars) period, but below other recessionary highs such as during the 2009 global financial crisis. Wholesale trade, non-electronics manufacturing and financial services had the biggest spike in layoffs.

The latest figure does not include the large-scale layoffs announced by Resorts World Sentosa in July and Singapore Airlines last week which affected thousands of workers.

Locals, which refer to Singaporeans and permanent residents (PRs), were less likely to be retrenched than foreigners, noted MOM in its report, though locals made up more of the actual number of people laid off because they comprise the bulk of the workforce.

National Trades Union Congress assistant secretary-general Patrick Tay said on Monday that the retrenchment figures reported do not include older workers who were not re-employed, foreigners whose work passes are not renewed and workers who may have left their jobs as their employers are facing impending liquidation or insolvency.

"I expect both retrenchment and unemployment figures to continue to increase in Q3 and Q4 especially with continued restricted travel, Covid-19 safe management measures and restrictions, as well as an overall uncertain local and global outlook and stance across many industries," he said on Facebook.

It could have been worse - the ministry said in a statement that cost-saving measures adopted by firms and Government support initiatives "may have cushioned the overall impact on jobs".

The number of employees placed on shorter work weeks or temporary layoffs rose to an unprecedented high of 81,720 in the second quarter, as firms battled fallout from the Covid-19 pandemic.

The previous peak was during the global financial crisis in 2009, when 26,530 employees were on such arrangements.

In the first half of the year, locals formed the bulk of the 42,190 employees on short work weeks, while foreigners were the majority of the 43,720 on temporary layoffs, said the ministry in its labour market report.

Unemployment rose steadily over the last few months. The seasonally-adjusted unemployment rate for Singaporeans climbed to 4.3 per cent in July, up from 4 per cent in June and 3.5 per cent in March.

MOM said that it will start to release unemployment rates on a monthly basis, instead of quarterly. This way, it can detect shifts in the employment situation more quickly. It had started collecting unemployment data monthly since April.

The data will be available online and in the jobs situation reports.

In July, the seasonally-adjusted unemployment rate for locals rose to 4.1 per cent, up from 3.8 per cent in June and 3.3 per cent in March, while the overall rate - for locals and foreigners combined - rose to 3 per cent in July, up from 2.8 per cent in June and 2.4 per cent in March.

The latest figures were the highest since the global financial crisis in 2009.

They come amid ongoing uncertainties in the global economy, including the risk of a major resurgence in Covid-19 infections, said MOM. "Softness in the labour market is likely to persist with continued weakness in hiring and pressure on companies to retrench," it said.

A total of 78,800 citizens and 10,900 PRs were unemployedas of June. Most of them had joined the pool of unemployed recently, while the number of long-term unemployed locals dipped between March and June. This refers to the share of unemployed people who were out of work for at least 25 weeks.

Time-related underemployment rose among locals, as there were more part-timers who were willing and available to work additional hours.

Also, as a result of less overtime, the average weekly total paid hours worked per employee fell by 1 hour between March and June, the largest quarterly decline on record.

SOME SECTORS STILL HIRING
The economy shed a net 103,500 workers in the second quarter of this year, excluding foreign domestic workers. This was the largest quarterly contraction on record, though lower than the preliminary estimate of 121,800.

An MOM spokesman said the difference is because the final report takes into account late responses and revisions in firms' responses after verifications.

That is also why the final second quarter retrenchment figure was higher than initial estimates.

In all, total employment contracted by 3.7 per cent, or 129,100, in the first half of the year. This comprised 66,400 foreigners, excluding maids, and 62,700 locals.

The bulk of the decline in local employment came from the services sector, while the decline in foreign employment was widespread across sectors.

Bucking the trend, local employment held steady or edged up in sectors such as information and communications, financial and insurance services, health and social services, professional services and electronics manufacturing.

Overall, food and beverage services, construction and manufacturing excluding electronics were the three sectors hardest hit by falling employment. On the other hand, electronics manufacturing and insurance services employed more workers in the second quarter.

Sectors where people are more able to work remotely were least impacted, said MOM.

Hiring demand continued to fall. The seasonally-adjusted ratio of job vacancies to unemployed people in June dropped to 0.57 in June, down from 0.71 in March.

It was the worst showing in a decade, but not as low as in past recessions. For example, the ratio was 0.37 in March 2009 amid the global financial crisis.

Still, job vacancies grew in five sectors between March and June this year: public administration and education (6,200 vacancies as of June), administrative and support services (4,200), food and beverage services (3,200), financial services (4,000) and wholesale trade (3,800).

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Retrenchments in Singapore more than double to 8,130 in Q2: MOM

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SINGAPORE - Retrenchments more than doubled to 8,130 in the three months to end-June, compared with the first quarter of the year, as unemployment climbed further, according to Ministry of Manpower (MOM) data released on Monday (Sept 14). Retrenchments were sharply higher than the preliminary estimate of 6,700 released in July, as well as the first quarter figure of 3,220.

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-Since more Singaporeans are prone to stay at home due to the pandemic, many people have started to get in touch with the streaming industry. With a sudden surge in more people being interested in the streaming industry in Singapore, the majority of the streaming platforms have encountered huge traffic increases over the past couple of months. This will lead to more people who are willing to pay for their streaming services, suggesting an economic growth in general.

-Many online paid streaming services have increased in their sales due to the pandemic. Streaming is now a US$75 million dollar industry in Singapore, and it will continue to grow. In fact, the industry is expected to generate slightly less than $1 billion in revenue by 2024. These have also led to an increase in employment in the online paid streaming industry.

-As the demand for paid streaming services continues to increase, we are able to expect an increase in the employment in this industry as more manpower would be needed to meet the demand and expectations of the services.

-With the increase in demand and consumer spending towards paid streaming services, the GDP will increase, naturally pulling up the GDP per capita. This gives an indication of the living standards in Singapore, so with a higher GDP per capita, the living standards in Singapore would be better.

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-The real GDP rose by 0.7% in 2019, less than the 3.4% gain of the previous year 2018. Singapore's GDP increased by 1.0% year over year in the fourth quarter of 2019, above the previous quarter's 0.7% growth.
-The banking and insurance industry, as well as other service industries and business services, were the sectors that contributed the most to growth in the quarter.

-The real GDP shrank by 5.4% in 2020, reversing the 1.3% gain of the previous year.
-The Singapore economy contracted by 2.4% year over year in the fourth quarter of 2020, a decrease from 5.8% shrinkage in the previous quarter.

-Except for manufacturing, finance & insurance, information & communications, and wholesale commerce, all industries shrank during the quarter.

-Real GDP grew by 7.1% on a year-on-year basis in the third quarter of 2021.
-Manufacturing, banking and insurance, and construction were the industries that contributed the most to GDP growth.

-GDP per capita (current US$) is $61,173.90 in 2019

-GDP per capita (current US$) is $58,056.80 in 2020

-GDP per capita (current US$) is expected to reach $59,500.00 in 2021

-The streaming service industry continues to grow despite the Covid-19 outbreak. The majority of the streaming platforms have seen huge traffic increases ever since the pandemic. According to the study, streaming websites have an average increase of 35% from February to March 2020.

-The increase in demand is caused by the precautionary measures that are implemented during the pandemic such as Work From Home (WFH) and circuit breaker.

-Some examples include HBO Go Asia that has had the biggest growth since the COVID-19 outbreak, with a 94.4% rise in visits from February to March 2020. MeWatch came in second with a 49.64% increase, and Netflix came in third with a 40% increase.

Economic growth

-In 2019, Singapore's economy increased by 0.7% year on year. According to the Ministry of Trade and Industry's (MTI) flash estimates released on Thursday (2 Jan 2020). This was more than the 0.6% rise expected by Bloomberg experts.

-In 2020, the economy in Singapore shrank less than forecast. According to the MTI advanced projections released on Monday, GDP decreased by 5.8% for the entire year 2020 due to the disruption of economic operations induced by the coronavirus epidemic (Jan 4 2021).

-MTI's earlier expectation of a 6.5% to 6% decline in November was revised upwards, and the full-year growth is significantly lower than its previous estimate of a 7% to 5% reduction.

-In 2021, the economy is predicted to grow at a rate of 4.0 to 6.0%. According to the latest figures from the Economic Survey, the economy grew by 9.2% on a quarter-on-quarter basis in the third quarter of this year, a turnaround from the 13.2% decline in the second quarter.

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inflation rates of Singapore 2019-2020

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The inflation rate for consumer prices in Singapore moved over the past 41 years between -1.4% and 8.5%. For 2020, an inflation rate of -0.2% was calculated.

During the observation period from 1979 to 2020, the average inflation rate was 2.0% per year. Overall, the price increase was 124.48 %. An item that cost 100 Dollar in 1979 was so charged 224.48 Dollar in the beginning of 2021.

In only a few countries negative inflation rates are achieved. This means that the general price level is declining and consumer prices get cheaper. This case is called deflation.In comparison to other countries, the drastic price increases are no longer on average. Usually this is a sign of political and economic turmoil.
Back to overview: Singapore

Performance over the last 41 years compared to the US

Performance based on 100% in 1978.

Singapore USA

Inflation calculator for Singapore

Enter any amount, an initial year and an end year here. You will then be issued with the amount that arose from the original amount after inflation. Example: 1000 Dollar in 1979 corresponds to an amount of 2,244.79 Dollar at the beginning of 2021 due to inflation.

Development of inflation rates for consumer goods in Singapore

Singapore USA

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The inflation rate for consumer prices in Singapore moved over the past 41 years between -1.4% and 8.5%. For 2020, an inflation rate of -0.2% was calculated. During the observation period from 1979 to 2020, the average inflation rate was 2.0% per year. Overall, the price increase was 124.48 %.

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-Inflation rates in Singapore have always been fluctuating , in 2019 pre covid , our inflation rate was 0.57% , greater than the inflation rate of -0.18% in 2020 when the covid-19 pandemic hit unexpectedly.

- Singapore's annual inflation rate increased to 3.8 percent in November 2021 from 3.2 percent in October, beating market expectations of 3.35 percent and marking the highest level since February 2013.

- As the economy improves and recovers, there is more domestic demand for products and services, which means that prices have also gone up.

- With the on-going pandemic, the paid-streaming services has had an increase in the general price trends due to the demand-pull situation contributing to the increased inflation rate in singapore.

-The coronavirus crisis has benefited the paid streaming services industry. In Singapore with the safety measures like circuit breakers , home-based learning and work-from-home being implemented, Singaporeans have picked up the habit of binge-watch series, and companies like Netflix, Amazon, and Disney+ have seen a significant increase in video and audio consumption.

- As more Singaporeans are confined to their homes, companies/sellers  have used this opportunity to increase their prices, in other words : increase subscription fees that customers pay monthly or yearly , depending on their payment plan.

-One such example would be Netflix. Netflix Singapore increased their prices by $1-$2. Which means that the Basic plan will increase by $1 from $11.98 to $12.98. Standard plan will increase by $1.50 from $15.98 to $17.48 .Premium plan will have the largest increase by $2 from $19.98 to $21.98.

- With the increasing inflation rate, goods and services prices have and will continue to rise tremendously. During these times we must not forget about the low-income families who cannot afford these services. Hence, to keep prices from going out of control, the Monetary Authority of Singapore (MAS) has tightened monetary policy by steepening the slope of its policy band for the country's trade-weighted exchange rate, allowing the Singapore dollar to strengthen and making imports cheaper.This move is to mitigate imported inflation and temper domestic cost, to ensure price stability.

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Industry
- Economic recession during the pandemic period would cause a drop in demand for goods and services, resulting in a drop in labor demand, resulting in layoffs, also known as cyclical unemployment.
- As we know,the pandemic has led to many people preferring to stay at home to stay safe, so people will be less willing to visit the cinema. Their alternative option would be using paid streaming services to enjoy those movies in the comfort of their own home.
- Apps such as Netflix,Hulu provide access to thousands of movies and videos.
- Additionally , Disney+ also offers attractive discounts to attract more subscribers leading the demand of paid streaming services industry to increase.
- With the rise in subscribers of the streaming services, the apps have a higher demand and revenue allowing them to produce more original content for their viewers, which creates more job opportunities.
- An example would be Netflix, they are hiring people in Singapore for job roles to develop consumer product strategy, boost localisation efforts and many more.
- This eventually contributes to the employment rate in Singapore and lowers the unemployment rate of singapore. With a lower unemployment rate, Singapore will be able to minimize the loss of output.

Singapore
- In 2019, Singapore’s unemployment rate was 2.3% and in 2021, it went to 3.5% in the first half of the year.
- Under the statistics provided by the ministry of manpower, Singapore had the highest unemployment rate of 3.0% in 2020.
- Unemployment rate from 2019 to 2020 has increased by 1.2% due to the recent pandemic; COVID-19. As the pandemic continues, many companies were forced to retrench their employees to save costs because of low sales.
- Caused by most people staying at home. - Production costs have also been increasing, resulting in companies having a hard time paying wages to their employees. - Retrenchment had gone up to 8,130 in 3 months from March 2020 to June 2020.

- Government introduced the Job Support Scheme(JSS), a scheme which provides wage support for employers to retain their local employees.
- Government co-funds a proportion of the first $4,600 of gross monthly wages to every employee up to March 2021, allowing many companies to refrain from retrenchment
- As a result, the unemployment rate has improved to 2.6% in the third quarter (September) of 2021.

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Macroeconomics Prelim Analysis [Based on 5 key sources of information]

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Macroeconomics Prelim Analysis [Based on 5 key sources of information]

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Statistics proved in causing the change in the streaming industry due to the pandemic

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Are you staying in and streaming more than usual during the COVID-19 outbreak? You're not alone. Finder analysis of SEMrush data reveals that the majority of streaming websites analysed have seen huge traffic increases over the last couple of months. On average, streaming websites included in the study saw a 35% increase from February to March. So which one saw the biggest jump? And what are some of the biggest trends in the industry? Let's break down the stats.

How coronavirus changed our streaming habits

The prize for the most growth since the COVID-19 outbreak goes to HBO Go Asia, with an increase in visits of a whopping 94.4% from February to March 2020. MeWatch had the second-biggest jump at 49.64%, and Netflix was third at 40%. Singtel also saw a significant jump, with a 31% increase in page views, putting it in fifth place.

But which platform is more popular overall? Finder's analysis of Google Trends data for the first week of April 2020 reveals that Netflix has the highest comparative search volume interest in Singapore, followed by Singtel and Starhub. While both Amazon Prime Video and Viu saw an uptick in online traffic, they didn't see much of an increase in search volume according to the data.

Not only that, but a new report from the GlobalWebIndex tells us that 35% of Singaporeans say they're streaming TV to keep them occupied during the coronavirus outbreak. A further 19% of Singaporeans say they've significantly increased the amount of time spent streaming TV.

Singapore's biggest streamers by age, gender and income

Prior to the COVID-19 pandemic, Statista data from 2019 suggested that those aged 25-34 accounted for the biggest proportion of people using streaming services at 33.4%. This was followed by those aged 35-44 (24.6%) and those aged 18-24 (21.2%). Singaporeans in older age groups accounted for a smaller share, with 45-54-year-olds making up just 14.5% of those tuning in, while just 6.3% of TV streamers were aged 55-64.

If you thought streaming services were a luxury only for the rich, you'd be mistaken. Overall, low-income earners accounted for the lion's share of streaming users in 2019, with a whopping 47.7% of streaming users coming from this income bracket. Medium-income earners take up the smallest percentage, at about a quarter of all streaming users, while high-income earners accounted for just over a quarter at 27.2%.

It turns out that men accounted for the biggest proportion of streamers at 54.1%, while women accounted for just 45.9%. So next time you find yourself annoyed at your boyfriend's attention span while his eyes are glued to the TV, you can take heart in knowing that you're definitely not alone.

The devices Singaporeans are bingeing Netflix on

Statista data from 2019 reveals that smart TVs were the number one device that people used to stream TV, with nearly half of all Singaporeans streaming video content this way. Set-top boxes, Google Chromecast, and Apple TV were also popular ways of streaming.

How Singapore's streaming industry compares to other countries

Gone are the days of watching one show at a time and waiting a whole week until the next episode airs. Streaming in Singapore is now a US$75 million dollar industry, and it's showing no signs of slowing down. In fact, the industry is expected to hit just under US$1 billion in revenue by 2024.

So how does Singapore compare to other countries around the world? It comes as no surprise that the home of Hollywood itself, the US, takes the prize for the biggest market in terms of revenue, with a market volume of US$11,950 million in 2020. Next up is China (US$1,926 million), Japan (US$1,246 million), Germany (US$1,117 million) and the UK (US$ 1,018 million). Singapore actually ranks pretty far down the list at 41st place, with US$75 million.

Methodology

Sources: GlobalWebIndex, Statista and SEMrush.

Compare TV streaming services

More guides on Finder

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Singapore TV streaming statistics | Finder Singapore

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Are you staying in and streaming more than usual during the COVID-19 outbreak? You're not alone. Finder analysis of SEMrush data reveals that the majority of streaming websites analysed have seen huge traffic increases over the last couple of months. On average, streaming websites included in the study saw a 35% increase from February to March.

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Real Gross Domestic Product (GDP) increased in third quarter in 2021.

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MACROECONOMIC PRELIMINARY ANALYSIS

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Good points:
An insightful and interesting industry was chosen in such a time like this with all the restrictions of Covid-19 restrictions.
Good choices of articles and good summary facts related to the industry in Singapore.

Your reflection shows that you learned something interesting about the industry and that you have highlighted areas where you can work more productively as a group.  These are good learning points, indeed.

Areas for Improvements:
Points that could have been added include who the market leader is and how do they compete, what differentiates them from one another. Why some are popular than the rest, etc. The average subscription price could have been researched and incorporated.

Please note that there is no report writing required for this project.

Next Step?
Please research additional information for your microanalysis and incorporate them into your PowerPoint presentation. Do not edit the microanalysis that has already been posted here.

Overall, Good job! You can now work more on the next stage of macroanalysis as we cover macro topics along the weeks ahead.

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The team was really cooperative and helpful towards one another whenever we face doubts such as not being able to find sources, or not knowing how to phrase their ideas. During the project calls, everyone was attentive and voiced out their ideas and opinions, allowing us to avoid misunderstandings towards one another. Working with the team was enjoyable and fun.

One thing that we can improve on is getting a full understanding of what we were supposed to do before every call so as to avoid confusion during discussions. This also makes sure no members will feel left out of the discussion.

One interesting thing I found was how film-makers take advantage of the different paid streaming services and increase the cost of their licensing.

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We had an enjoyable teamwork together with an effective and consistent preparation period during the calls. In addition, we are able to think as one and combine our ideas together productively. In a short time of two to three hours, we are able to come up with many powerful ideas and suggestions. Before the end of the call, we are able to provide an objective on our focus on what we aim to complete before the next call.

One thing that I think we can work on would be understanding further our main roles so that our examples and elaboration would not contradict each other. By doing so. we would not waste unwanted time in changing our viewpoint to fit the other details.

One thing that I found interesting about the video streaming industry is the statistics of its market. The popularity of the streaming industry has grown up by a huge surge during the year 2020 due to the pandemic. The vast analysis of streaming services also made a huge impact on our lives as watching shows everywhere starts to become a trend instead.

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Overall, the group was okay, everyone was cooperative, and they also clarified my doubts and helped me in finding some of the sources that was harder to find for my part. The call was productive and everyone had a lot of ideas and we were able to reflect together on some of the doubts we have on certain parts of the project. Also, everyone was just providing many different ideas and researching on many useful resources helping one another.

One thing that I think we can work on is that we should have started with settling the resources first instead of doing it ourselves and resulting in quite many sources not being able to use.

One thing I found interesting was us finding resources to provide as evidence that can fit all our parts in. We needed to do research together and share our thoughts on whether we think it was suitable for our parts and that if everyone was okay with the source.

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The team really puts in a lot of effort to choose and find information that is reliable and relevant. The team is always open and listens to every members ideas before making a decisions to avoid conflict. I think the team was very productive during the calls whenever we knew what we were doing.

One thing that I think we can work on is getting our individual part done before the calls and not "halfway done" and also how maybe we could clear our doubts in texts itself instead of waiting till the call to clear them or the night before.

One thing I found interesting about the video streaming industry is that there aren't as many paid-streaming apps as i thought there were. During research I also managed to find out how there were so many different kind of substitutes.

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The team is really cooperative and productive during discussions. The team is filled with ideas and we were able to share our ideas with each other. Overall, we really had fun doing the padlet.

One thing that I think we can work on is being able to delegate our responsibilities in a better way so that we will not waste time finding for information during our group discussions.

One thing that I found interesting about the video streaming industry is the analytical tools they use to come up with recommendations for their consumers. They come up with personalised recommendations which helps in customers retention.

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3. Supply determinants applicable to industry

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3. Supply determinants applicable to industry

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1. Number of sellers

- There has been an increasing number of paid streaming services around the world entering the tv network entertainment industry.
- For example, there are a variety of apps such as Netflix, Prime Video, Hulu, and etc that provide different types of content, so users are able to switch around the paid streaming services
- The paid streaming services are able to provide more films and people will be more willing to subscribe to them.
- Therefore, the supply of paid streaming services will increase due to the influx in the number of sellers.

2. Factor / Resource price

- As the scale of the tv network entertainment industry expands, more film-makers will use this chance to charge higher prices when the paid streaming services attempts to obtain films from them.

- For example, producers know that there is a lot of paid streaming services in the industry competing for the latest films or shows, so they would charge them at a higher price. This will then incur more expenses for the paid streaming services as licensing would be at a higher cost.
- Then it will lead to a decrease in supply, as production cost increases.

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- Price elasticity of demand measures the responsiveness of buyers to a change in price. It shows us how much more or less of goods buyers will buy when the price of the goods change.

- The more the buyers react to a change in price of the streaming services, the more elastic streaming services will be, which naturally affects the demand for it.

- In a streaming service, there are 2 determinants; proportion of income and availability of substitutes.

Proportion of income:
- Demand is price elastic the higher the proportion of income spent on the service.
- For the rich, change in price of a streaming service will not affect them heavily as it does not take up much of their income.
- For the lower income, streaming services are price elastic to the lower income as the change in price might affect their decision in continuing their subscription to their service. Since the change in price of the service would take up a bigger portion of their income, the demand for streaming services would be price elastic.

Availability of Substitutes:
- The more substitutes available, the higher the price elasticity of demand
- When the price of one streaming platform increases, the demand for that platform will naturally decrease as consumers are able to look for other streaming platforms that can substitute it.
- Streaming services are price elastic as they can be substituted any time.

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2. Demand determinants applicable to industry

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2. Demand determinants applicable to industry

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1.Price of related groups

-There are many substitutes available for paid streaming services.
-There are free-streaming services, illegal streaming websites and even advertisement(ad)-supported streaming services.
-When there is an increase in the price of a subscription for paid streaming services, people will tend to look for substitutes as they cannot afford / do not want to pay a higher price.
-For example, if the subscription fee for Hulu increases, viewers can switch to other free ad supported streaming app called Peacock to view their movies, shows and even original content . Likewise, If Netflix’s subscription fee increases, people can find other platforms like Crackle to use and watch movies, tv shows (old and new) and even original content.
-From this I can infer that when the price of paid streaming services increases,  the demand for ad-supported streaming services will increase.

2. Money Income

-As viewers' income changes, the demand for the paid streaming services will also change.
-When viewers’ income increases, demand for paid streaming services also increases as more people can now afford to pay for apps and watch shows.
-When viewers' income increases, demand for paid streaming services decreases.
-This is because when people get paid less , they cannot afford leisure activities or cut down unnecessary costs. Watching shoes via a paid streaming app can be seen as unnecessary for some people and hence they might unsubscribe from the service.

3. Taste and Preference
-A change in viewer tastes or preferences will affect the demand for paid streaming services.
-With the recent Coronavirus Pandemic, people study and work from home.
-They cannot go out watch movies with their families hence they resort to watching them at home.
- Movies cannot be released as well so they publish them in paid apps like Amazon Prime Video
-Therefore more people are willing to pay for the paid streaming services which causes demand for it to increase as well.

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[1] Average number of subscription video on demand (SVOD) subscriptions in Singapore from 2018 to 2020 https://www.statista.com/statistics/1257651/singapore-average-number-of-svod-subscriptions/

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Netflix S’pore Raises Subscription Fees, To Increase By Up To $2

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Netflix has increased its subscription fees by up to $2. The change took effect on 7 October. Current subscribers will be notified via email.

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People preferences are constantly changing, some prefer video streaming compared to traditional television channels.

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There are free platforms for people to replace popular streaming services that need to be paid.

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Trying to save some cash? If you'd like to limit the number of services you pay monthly fees for, many of the most popular ones -- including Netflix, , Apple Music, Grubhub and DoorDash -- can be swapped for free alternatives. You might not end up with the exact same product, but you can often get pretty darn close.

Unlike their paid counterparts, many of these free services operate with ads and the streaming services won't let you download stuff to watch or listen to them offline. But some have deals and decent free trials that you can take advantage of now.

Get the CNET How To newsletter

Here's how to replace all of the services you pay for with the best free subscription services we've found.

Screenshot by Rick Broida/CNET

Replaces: Hulu Plus Live TV (or your whole cable subscription)

One big caveat here: Much of the programming on Pluto isn't the same live TV channels you'll find on pay cable or satellite, even if the channels have the same names. So, while news junkies will find live programming from CBSN, NBC News Now and Bloomberg TV, Pluto's versions of MTV, AMC and CNN are time-shifted or alternate programming from those providers.

Ultimately, none of that matters, because you're still getting a wealth of streaming video that's truly free (it's ad-supported, of course). And because there are literally dozens of in-progress streams to toggle through in real-time, Pluto offers the best analog to flipping through the myriad channels on a traditional cable system (or paid streaming alternative, like Hulu). You can also browse channels by categories like news, sports, comedy and movies, and find on-demand TV content, though it's mostly crime and reality shows.

Pluto works on desktop browsers, through a Windows client, or through apps for Android, iOS and different smart TVs and channels for Apple TV, Fire TV and Roku.

MasterClass

Replaces: Online classes

MasterClass offers thousands of online lessons taught by veritable masters in their fields -- we're talking Gordon Ramsey on cooking, Ken Burns on documentary making and Helen Mirren on acting. While an annual membership costs $180, you can find a series of free courses called MasterClass Live available now. These include a session on building suspenseful thrillers with Dan Brown, the importance of science with Neil deGrasse Tyson and poker tips from six-time World Series of Poker champion Daniel Negreanu.

Food Network

Replaces: Magazine subscriptions, cooking classes

If you spent the first part of your quarantine experimenting with cooking projects such as sourdough, banana bread or dalgona coffee, grow your cooking chops even more with the Food Network Kitchen app and subscription service. It brings live and on-demand cooking lessons from celebrity chefs like Bobby Flay, Giada De Laurentiis and Ree Drummond to iOS and Android devices, the Amazon Echo Show 8, Fire tablets, Fire TV and Alexa. The app's goal is to become your personal kitchen companion, helping you step by step while you cook.

While the service usually costs $5 per month or $40 per year, Food Network is offering a 7-day free trial right now.

More money-saving tips

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Budget hack: Replace Netflix, Hulu and more with free subscriptions

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Trying to save some cash? If you'd like to limit the number of services you pay monthly fees for, many of the most popular ones -- including Netflix, , Apple Music, Grubhub and DoorDash -- can be swapped for free alternatives. You might not end up with the exact same product, but you can often get pretty darn close.

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The increasing numbers of sellers makes the market competitive.

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The content-industrial complex is churning out more original shows and movies on a proliferating number of video streaming services. Consumers now have a glut of choices as to which apps get their monthly subscription dollars.

According to Nielsen's Q3 Total Audience Report, viewers have definite factors in mind when it comes deciding whether to subscribe to another new SVOD (subscription video on-demand) service.

Nieslen's MediaTech Trender consumer tracking study surveyed US respondents 13 years and older about the most important attributes of video streaming services (respondents could choose multiple answers). Nielsen found that the variety of content available and the app's ease of use topped the list of buying factors at 57 and 56 percent of respondents, respectively.

There are caveats to both of those attributes. First, the increasingly competitive market of SVOD services-which includes not only Netflix, Prime Video, Hulu, and CBS but a new influx of options from Apple, Disney, NBCUniversal, and WarnerMedia-makes it nearly impossible to find all the content you want in one place. Streaming platforms are bankrolling original content and pulling their licensed shows and movies into their own walled gardens, meaning the early days of Netflix and Hulu, where most networks licensed their catalog to one streaming service, are gone. The same caveats exist for the 52 percent of respondents prioritizing access to movies.

In terms of the technology powering these services, the major streaming apps all suffer from the same problem: The user interfaces suck. Fifty-one percent of respondents said "accessibility/search of desired content" is a key factor. Faced with more content to sift through than ever, viewers are stuck with the same scrolling library-style interfaces we've had for a decade, with imperfect machine-learning-driven "personalization" attempting to surface what you want to watch.

Nielsen also surveyed respondents who said they don't plan on subscribing to the new video-streaming services because of various barriers. For 36 percent, viewers simply don't see the need to cut the cord. In terms of some of the other attributes above-access to specific network programming, local programming, and sporting events-a cable package is still your best bet. Another 18 percent of respondents said broadcast TV has a more reliable signal; no buffering or bandwidth issues.

The crowded field of streaming options can also make it confusing to figure out exactly where to stream specific network programming, particularly since options like WarnerMedia's forthcoming streaming service plan to combine all the content from HBO, TNT, TBS, TruTV, CNN, the CW, Warner Bros. and DC Comics films, Cartoon Network, and more into a single app.

For many other respondents, streaming services just aren't worth it. Thirty-three percent said they didn't want to pay for the extra expense of one or more monthly streaming subscriptions, 26 percent said they're not interested in the content available on streaming apps, and 22 percent simply don't watch much TV or online video.

Nielsen's Q3 Total Audience Report has a lot more data on streaming video, usage of connected devices such as smart TVs, and overall digital media consumption, which remains about the same from a year ago. Download the full report for a deeper dive into all the data.

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The Most Important Buying Factors for Video-Streaming Services

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The content-industrial complex is churning out more original shows and movies on a proliferating number of video streaming services. Consumers now have a glut of choices as to which apps get their monthly subscription dollars. According to Nielsen's Q3 Total Audience Report, viewers have definite factors in mind when it comes deciding whether to subscribe to another new SVOD (subscription video on-demand) service.

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Challenges faced in the competitive video streaming industry and costs incurred in the business.

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CEO & Co-Founder of , a company providing cloud-based OTT video software solutions for leading media companies worldwide.
If video streaming has been rising in importance since its inception, 2020 may mark the year that it became mission-critical. Entire industries are now relying on this technology to remain in business amid a pandemic that has made in-person gatherings problematic. Obviously, this has greatly impacted the entertainment industry, but it has also impacted education, business communication and all other industries that now have shifted from in-person to mostly online communication.
Licencing content is a big challenge, but not necessarily the biggest.
Robust competition has always been the backbone of the free market. As such, it is vital to the video streaming industry that we maintain an environment that encourages new entrants and allows smaller companies to compete with established players. Video streaming, however, can be a tough field for such companies. How can new innovators enter the game and engage on a more level playing field? To answer these questions, we have to take a closer look at the typical challenges faced by streaming companies.

People in the media business are generally aware of the immense cost that streaming services incur to create or license content for their individual apps and platforms. From my time in the industry, I would say that most organizations would agree that such content is a necessary expense to gain and retain viewers. After all, Netflix would not have become a household name - and certainly wouldn't have coined the phrase "binge-watching" - unless they had great shows.

In late 2020, my company conducted research into the matter, posing this question to 800 individuals in the video streaming service ecosystem: What are the biggest challenges you are experiencing with video technology?

Their response? Controlling costs.
What are the top cost contributors in the video streaming industry?
To be clear, we were surprised to see "cost control" topping the chart of concerns. When we conducted the same study a year earlier, for instance, users more predictably cited the ability to deal with complex technology such as "live low latency." But this year, more than 51% of respondents said that cost control for things like bandwidth and storage is their biggest challenge.

There are countless costs associated with running a streaming service, but the greatest behind-the-scenes factors include:

* Cloud-Hosting: While cloud hosting does shield companies from the burden of having to maintain their own infrastructure, it's not necessarily cheap. Furthermore, in choosing their server configurations, companies might need to overestimate their demand in order to deal with unanticipated spikes in viewership for certain programs.

* Content Delivery: Similarly, streaming companies with viewers dispersed over large geographic regions need to invest heavily in content delivery network (CDN) solutions to minimize latency and maintain the quality of the experience.
Controlling costs can open doors to a competitive video streaming market.
* Content Protection: On top of the fees that the provider may have paid for the video content they've licensed, they also need to invest in a digital rights management (DRM) solution that prevents it from being stolen.

This year, countless new streaming services have launched worldwide, and media headlines speculate about which companies will win the streaming wars. In my opinion, those that best balance cost and quality with innovation become the long-term winners. Select good content, deliver an innovative customer experience and watch your operating costs. That's the recipe for success in this industry.

In the end, the fact that the biggest challenge is controlling the costs associated with maintaining a streaming service has a silver lining: This is something that companies have a significant degree of control over. Pay careful attention to back-end operations like bitrate expenditure through granular data analysis, expand device reach by supporting multiple and affordable codec implementations (such as HEVC and VP9) and operate scalable cloud-based workflows, which are often more efficient than aging hardware solutions.

The near future does have a bright side. With so many organizations coming to market, a standardized video infrastructure is right around the corner, and up-and-coming streaming services will have the capacity to not only launch successfully but to also scale at cost.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

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Council Post: Cost: The Biggest Challenge For Streaming Services ... And That Might Be A Good Thing

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CEO & Co-Founder of , a company providing cloud-based OTT video software solutions for leading media companies worldwide. If video streaming has been rising in importance since its inception, 2020 may mark the year that it became mission-critical. Entire industries are now relying on this technology to remain in business amid a pandemic that has made in-person gatherings problematic.

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1. Market structure of the streaming services industry: Oligopoly

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1. Market structure of the streaming services industry: Oligopoly

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Support from key sources:
- In the streaming market, there are only a handful of firms so they will be able to prevent others from having a huge influence.
Eg. the main competitors are Disney+, Netflix and Viu
- Many paid television networks are starting to move their channels to their own platforms to stay competitive.
Eg. HBO Go launched their own streaming platform to move away from cable TV subscriptions stay relevant to the customers
- More people have subscribed to video streaming services.
Eg. According to a survey conducted recently by NTU's think tank, about 45 percent of the respondents uses streaming platforms for entertainment pruposes.
- There are many barriers faced in the midst of entering the market as a start-up or small company. It requires a significant amount of capital to compete with the current companies.
Eg. As bigger streaming companies such as Netflix, Tencent are being more popular for their customers to view, smaller streaming companies would then find it more difficult to stay sustainable due to the economics of scale. For example, when the users are not interested in the shows shown on Netflix, they tend to move on to other platforms which are well-known instead of small scales streaming platforms.
- Most firms spend lots of money on advertising to bring their brands across different countries reaching out to international audiences.
Eg. Netflix has been advertising itself on social media platforms such as Instagram, and also offline platforms such as on buses, at bus stops and in trains. Netflix also makes use of Youtube to post some of the trailers of the movies or films to entice the audience to use their app. This allows more people to notice about the streaming platforms and to be attracted to download these applications

To find out more for report writing:
- The other streaming services that are currently in the market
- Evidence of how certain streaming services price their subscription fees
- Information on what different streaming services provide for consumers
- The number of people that uses online streaming to watch their shows compared to people who use the cable TV subscription

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Microeconomics Prelim Analysis [Based on 5 key sources of information]

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Microeconomics Prelim Analysis [Based on 5 key sources of information]

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Rising trend of switching from cable TV to OTT (over the top) streaming platforms in Singapore.

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Another reason is the health threat now facing the world. Media research firm The Trade Desk noted that in 2020, the pandemic accelerated adoption of OTT content across Southeast Asia, as more consumers stayed at home.

"Seventy-three per cent of respondents plan to maintain or increase OTT consumption after the pandemic ends," it reported.

It is not surprising then for Disney to slough off its TV channels to grow its streaming services.
CONSUMERS THE ULTIMATE WINNER
As media businesses respond to what consumers want, we are witnessing the tug of war between a more traditional model of media distribution based on linear programming, and a direct-to-consumer model of online video-on-demand services.

We are also entering into an age of consolidation, as Amazon is now considering buying MGM.

Meanwhile US telecommunication heavyweight AT&T looks likely to merge its WarnerMedia assets, which include HBO and CNN, with Discovery Inc. The deal, if approved, will make the new entity the largest content provider in the world to take on Netflix, Amazon, Apple and Disney.

Tim Hanlon, CEO of The VertereGroup, sees this consolidation as a "legitimate possibility for these two streaming services (WarnerMedia and Discovery) to rise up into the top must have tier".

But the winner of this competition is us - the consumer.

Such competition is good because it affords us options, from better pricing to global content, convenience and variety.

In fact, Bob Chapek, Chief Executive Officer of The Walt Disney Company said in March: "The enormous success of Disney+ - which has now surpassed 100 million subscribers - has inspired us to be even more ambitious, and to significantly increase our investment in the development of high-quality content."

Meanwhile with 71 films planned for release in 2021, Netflix is focused on "creating content from anywhere in the world and playing it all over the world", according to co-CEO Ted Sarandos.

With more than 80 Korean films and shows under their belt, they seem to be doing just that.

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Commentary: The rise of streaming and decline of cable TV will benefit consumers most

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Another reason is the health threat now facing the world. Media research firm The Trade Desk noted that in 2020, the pandemic accelerated adoption of OTT content across Southeast Asia, as more consumers stayed at home. "Seventy-three per cent of respondents plan to maintain or increase OTT consumption after the pandemic ends," it reported.

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MICROECONOMIC PRELIMINARY ANALYSIS