YouKnowANot, April 2021

every+one

April 2021

YouKnowAnot

Government Satisfaction Index

82 APR

70 APR

78 APR

Community Satisfaction

Personal Finances

National Economy

85 APR 84 MAR

80 MAR

Health insurance/protection, motor vehicles prices/ COE, housing affordability and gap between the rich and poor all saw the largest drops of 3 points.

Singapore’s Top 5 News Stories of the Month

In terms of gains, civil rights/liberties/free speech went up by 3 points, followed by moral standards and management of the economy at 2 points each.

% Who Followed the News Government Satisfaction

Change since last month

% Who Paid Close Attention

Change over last 12 months

Defence/ national security Crime levels Racial relations/ integration Education system The environment Public transport Moral standards Care for the Elderly Management of the economy Health insurance/ protection Government accountability Taxes CPF/pensions Civil rights/ liberties/ free speech Population management Jobs and unemployment Level of salaries and wages Motor vehicle prices/ COE Housing affordability Gap between rich and poor Cost of living

97%

0%

0%

96% 94%

0% 0%

0% 1%

93% 93% 91% 91% 90% 91%

0% 1% 0% 1% -1% 2%

-1% 1% 0% 2% 0% 2%

87%

0%

-3%

84%

0%

-1%

85% 84% 83%

3% 0% 4%

-2% 0% 3%

78%

-1%

0%

81%

-1%

1%

78%

1%

-1%

73%

1%

-3%

74% 70%

1% -1%

-3% 0%

65%

1%

-3%

Overall GSI

85%

1%

0%

Copyright © 2021 Blackbox Research

77 MAR

68 MAR

1

COVID-19: Up to 75% of workforce can return to workplace, split teams not required from Apr 5 38%

2

3

Taiwan train crash kills more than 50 people 30%

89%

Indian composer accused of copying Singapore National Day song, Count On Me, Singapore 25%

5

90%

Container ship stuck for days in the Suez Canal disrupting international trade 32%

4

92%

84%

UN Security Council condemns ‘the use of violence against peaceful protesters and the deaths of hundreds of civilians, including women and children’ in Myanmar 20%

81%

Featured articles Streaming: Is YouTube showing its age?

Investment: Singaporeans venture into the digital marketplace Gaming: How VR/AR will turn Singapore into a gaming hub 1/5

Streaming: Is YouTube showing its age?

There is an air of real generational change online. Once the platform of choice for content creators, YouTube has been exasperating professional and casual users alike. The main culprit? Advertising, which is fast getting out of hand; consumers are growing tired of having to sit through ads to access digital content – no matter how much they may enjoy the content provided and no matter how relevant the ads may be.

This is also true in Singapore, where almost half (46%) say they are less likely to watch a video if an advert plays before it and 62% find adverts generally intrusive. In addition, 42% consider the adverts they see on YouTube irrelevant to them, 75% are put off when they have to wait for an advert to end before they can access content, and 77% are put off when there is no button to skip an advert.

And yet few seem willing to pay to avoid sitting through ads before watching online content. Just under a third (32%) of internet users in Singapore are willing to pay a subscription to avoid adverts. Instead, many are opting to use adblockers and other privacy-driven plugins to avoid being fed a constant stream of ads. Two in five (41%) use such services to use the internet in a more serene manner.

In terms of generational differences, Millennials are the least tolerant of ads getting in the way of their digital content while older consumers see online ads as mostly irrelevant to them, largely because advertisers are less likely to go after this generation online, at least in this part of the world.

Gen Zers are the most understanding towards the complicated dynamic of voluntarily being exposed to intrusive advertising in exchange for free digital services. This may be due to having grown up with such business tactics, as well as the fact that out of all age groups, they are also the most likely to use ad blockers and privacy plugins to shield themselves from omnipresent advertising. They are likely the first generation online to have various ad- inoculation tools at hand to address such inconveniences.

These findings suggest that advertising online is becoming more and more vulnerable to disruption and current formats may not stand the test of time. YouTube marketers, especially, will have to find a way to shift the way they target and reach consumers without ruining user experiences – and their brand’s reputation – along the way.

I am bothered by adverts playing before my video starts Don’t know

Agree

Disagree

72%

11%

16%

72%

74%

73%

72%

70%

73%

It puts me off when I have to wait for the advert to end before I see my content Agree

Disagree

75%

10%

75%

76%

70%

78%

74%

Don’t know

15% 76%

I am less likely to watch a video if an advert plays before it Agree

Disagree

46%

27%

48%

45%

47%

49%

Don’t know

27% 44%

46%

I do not mind seeing adverts in exchange for free content Agree

Don’t know

Disagree

47% 49%

22% 46%

59%

51%

31% 46%

35%

I use adblockers or other privacy-driven plugins when using the internet Male Millennials (25-39)

Female

Gen X (40-59)

Gen Z (15-24) Baby Boomers (60+)

*Totals may not add-up to 100 due to rounding

Copyright © 2021 Blackbox Research

Agree

Don’t know

Disagree

41% 45%

28% 37%

55%

49%

31% 37%

28%

2/5

Investment: Singaporeans venture into the digital marketplace The uncertainties of the COVID-19 pandemic have pushed Singaporeans to take more control over their finances through the stock market, while others are trying their luck with cryptocurrencies and other new Fintech-inspired products.

Our data shows that for many Singaporeans, investment trading is becoming easy and increasingly popular. Half of Singaporeans over the age of 15 say they have traded in stocks, foreign currencies, and/or commodities in the last 12 months. A third do it on a weekly basis, while 28% use online trading platforms such as eToro, Fidelity, or Robinhood.

A growing proportion of Singaporeans is also using online forums to exchange views and obtain advice – suggesting that much like other markets, a shift is taking place in the way financial expertise is defined and relied on. So-called ‘financial experts’ are being challenged by a new generation of ‘shoot from the hip’ commentators.

Nearly three in four (73%) Singaporeans say they use online forums or other digital resources to inform their investment decisions. Most of them (35%) rely on public forums where non-experts can contribute, while 23% consult private groups managed by investment professionals. In terms of publicly accessible online platforms, Facebook still leads (52%), followed

by WhatsApp (41%), and with Telegram catching up (31%).

With cryptocurrencies now seemingly always in the news, our data shows that 25% of Singaporeans now claim to dabble in cryptocurrency trading. Bitcoin (93%) and Ethereum (81%) stand out as the most widely known cryptocurrencies.

What kind of service or platform do you use to trade in stocks, foreign currencies, and/or commodities?*

36%

Investment and trading service offered by my bank

35%

1%

Others

Investment and trading service offered by my investment firm

Top 3 sources of investment advice* A public online forum where anyone can participate

35%

A private online forum offered by a professional service (e.g., my bank, or broker)

23%

A public online forum that requires an invitation or password

17%

Do you currently trade in digital, virtual, or cryptocurrencies?* Yes

No

25%

75% Top 5 cryptocurrencies in terms of popularity* 93%

Even the latest Fintech fads are attracting interest locally. Seven in ten (72%) Singaporeans say they would consider purchasing non-fungible tokens (NFTs) in the next 12 months. Typically used to verify the existence and the ownership of a digital collectible (e.g., art, audio, videos, items in video games, and other forms of creative work), NFTs are becoming popular in the wake of the mind-bending price paid for an art piece created by visual artist Beeple.

Overall, these new financial products and activities are slowly, but surely, impacting Singaporeans’ investment habits and tastes – a phenomenon that everyone, from financial advisors to ancient investment houses, will have to adapt to.

28%

Online trading platforms (e.g., eToro, Fidelity, Robinhood)

81%

Bitcoin Ethereum

79%

74%

71%

Bitcoin Cash

Binance Coin

Litecoin

How likely are you to purchase NFTs in the next 12 months?* Likely to buy

72%

Unlikely to buy

12%

16%

Never heard of NFTs *Data based on n=490, respondents who have traded in stocks, foreign currencies, and/or commodities in the last 12 months

Copyright © 2021 Blackbox Research

3/5

Gaming: How VR/AR will turn Singapore into a gaming hub In only a few decades, video games have gone from a niche and expensive hobby to a highly lucrative profession, with its own roster of high-profile events, sponsors, and superstars.

This is especially true in Asia, where the eSports sector is a rising economic force. Home to some of the world’s top-ranked eSport players, the region accounts for nearly half of the US$519 million in global eSports revenue for 2019. Mobile eSports games alone generated US$13.3 billion in 2019, 68% of global mobile esports games revenue.

As in many other sectors, Singapore is poised to drive the growth of eSports in Southeast Asia. With its strong internet infrastructure, high smartphone penetration, and established gaming facilities, Singapore is ideally positioned to become a major eSports hub for the region.

Our data shows that almost half of Singaporeans (49%) have played a video game in the last 12 months.

Of those, most (46%) game a few times a week and 29% at least once a day. On a given month, 60% of Singaporean gamers spend S$500 on gaming (gaming apps, gaming hardware / consoles, computer games).

A non-negligible proportion of Singaporean gamers (almost 20%) spends S$2,000 or more on gaming each month.

How often do you game?*

A few times a week

46%

19%

A few times a year

Everyday

29%

6%

Roughly how much do you think you have spent on gaming (gaming apps, gaming hardware / consoles, computer games) in the last month?*

S$501-S$1,000

S$500 or less

10%

60%

S$1,001-S$2,000

11%

At 75%, mobile phones are the most popular gaming platform in Singapore, followed by laptops/PCs (49%) and tablets (30%). A resolutely mobile-first region, the rise of Asia’s gaming sector will undoubtedly come from mobile games. Games like ROV, Free Fire, and Mobile Legends have grown rapidly in the region, and have lowered the barrier of entry into eSports.

The sector will grow even further as virtual reality (VR) and augmented reality (AR) become increasingly widespread. According to specialists, a major challenge for the region is the affordability and accessibility of VR/AR-enabled gadgets and peripherals. Projected to reach US$42.50 billion by 2025, the VR/AR gaming market will only grow once cheaper VR headsets and user-friendly AR platforms become widely available in Singapore and in emerging Asian markets.

A few times a month

S$2,000 or more

19%

Top 5 consoles / platforms for gaming*

75% 49% 30%

Mobile phone

Laptop / PC

Tablet

25%

19%

Playstation Nintendo 5 Switch

* Data based on n=490, respondents who have played video games in the last 12 months

Copyright © 2021 Blackbox Research

4/5

Who We Are You Know Anot

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Blackbox provides clients with decision science solutions, offering consumer, business, and community perspectives on contemporary problems and challenges. We monitor emerging trends both regionally and globally with the main aim of signalling potential changes of significance before they occur.

YouKnowAnot is our monthly community survey platform that has been running since 2013. We interview a representative sample of 1,000 Singaporeans every month. We now use a geographically stratified online sample. Our methodology also applies quota controls to ensure representative demographic coverage of the population. If you would like to purchase customised questions for your organisation or want to dig into our historical general community data/demographic information, please contact bizdesign@blackbox.com.sg for assistance.

In addition to YKA, Blackbox now runs a six-country bi-monthly omnibus study across ASEAN: every+one. Through 2021 Blackbox will be providing regular updates on key trends and on the ground sentiment across the increasingly important Southeast Asian region. If you would like to be included in our mailing list for every+one or purchase questions in the omnibus, please reach out. You can contact us at bizdesign@blackbox.com.sg

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5/5