Even after experiencing a slowdown, Southeast Asia’s premium video-on-demand (VOD) market nonetheless noticed income progress of 11% within the first half of this 12 months. In keeping with a brand new report, paid SVOD subscribers grew by 1 million to 49 million.
The quarterly report launched by digital measurement platform AMPD and its mother or father firm Media Companions Asia covers Indonesia, Thailand, Malaysia, Philippines and Singapore.
APMD calculates that viewing time within the first half of 2024 exceeded 230 billion minutes, a 4% improve from the identical interval final 12 months, primarily pushed by progress within the Philippines and Indonesia.
Premium movie income, which incorporates subscription charges and promoting gross sales, grew 11% to $895 million. Indonesia continues to take care of its management place when it comes to income. The Philippines, Thailand and Malaysia lead buyer progress.
Within the first half of 2024, each Netflix and Viu’s income grew at a double-digit charge, with Netflix’s class viewing share reaching 50%. Netflix dominates Malaysia, the Philippines and Singapore, however faces stiff native competitors and extra advanced class dynamics in Indonesia and Thailand.
Netflix’s class income share, together with promoting, reached 40% throughout the interval. Viu has 10% viewership and class income share. The report states that Disney+’s income continues to develop regardless of declining subscribers because the service focuses on a better ARPU buyer pipeline. Within the first half, Chinese language-owned WeTV maintained a powerful class engagement share of 8% in Southeast Asia.
Amongst native gamers, Vidio leads the way in which in Indonesia, with a class income share of about 20% within the first half. Its 7% viewership share was pushed by native drama and sporting occasions within the heartland. Thailand’s True ID leads the nation with a 27% viewing share within the premium VOD class, however its income share remains to be second solely to Netflix.
“Whereas rising costs have slowed buyer progress, rising penetration exterior main city facilities in Indonesia, the Philippines and Thailand stays a major alternative as premium sports activities, native, Asian and US content material strikes on-line.” MPA Government Director Vivek Couto mentioned that within the first half of 2024, Korean, American, Chinese language and Japanese content material accounted for 80% of premium video on demand scores in Southeast Asia.
“Whereas Korean content material stays the principle driver, Chinese language dramas account for 40% of freemium viewership. US content material stays the principle acquisition channel for world companies. Native content material retains a powerful presence, [subscriber] acquisition impression.
