Streaming subscription development within the Southeast Asia area slowed dramatically in 2023, however income from these subscriptions grew at a strong charge, a brand new research has discovered.
The report from knowledge analytics firm AMPD, that’s a part of consultancy and analysis agency Media Companions Asia, exhibits that the area – that features Indonesia, Malaysia, Philippines, Singapore and Thailand – added only one.3 million internet new SVOD subscribers in 2023, in contrast with 11 million in 2022. However subscription revenues grew at 12.5% to $1.4 billion.
Netflix, Viu, Disney, WeTV, iQiyi and Prime Video had greater than 75% of whole premium VOD class viewership and SVOD subscriptions revenues throughout the area, the Southeast Asia On-line Video Shopper Insights & Analytics report stated. Netflix stays the chief with greater than 45% viewership and subscription share in 2023.
Amongst native companies, Indonesia’s freemium sports activities and local-drama primarily based platform Vidio ended 2023 with the best quantity of subscribers in Indonesia and 15% SVOD income share available in the market, second solely to Netflix when it comes to monetization. Vidio’s paid base recovered effectively following a difficult first half of 2023 because of soccer within the second half together with the Liga 1 and FIFA U17 World Cup.
Korean dramas and selection leisure drove 36% of premium VOD viewership and 34% of SVOD consumption within the area in 2023, contributing eight of the highest 15 titles, the report stated. Netflix and Viu captured over 90% of Okay-content demand in 2023, with hits like Netflix’s “The Glory” and “King The Land,” Season 2 of Viu’s “Taxi Driver” among the many drivers. General, Korean, U.S. and Japanese content material (anime contributing 14% of SVOD demand) captured 70% of premium VOD viewership, the report stated.
U.S. content material drove 21% of premium VOD viewership general, and 30% of SVOD viewership, Netflix is the key contributor, adopted by Disney+ and Prime Video, the report discovered. Netflix’s “One Piece” topped U.S. content material demand in 2023, adopted by different originals from the service together with “Extraction 2,” “XO Kitty” and “Queen Charlotte.”
Southeast Asian content material accounted for 12% of premium VOD viewership in 2023, with originals from Vidio, Netflix and Viu in Indonesia, Viu in Malaysia and TrueID in Thailand being the drivers. Thai content material has the strongest regional influence exterior of its home market with horror titles well-liked. Chinese language dramas captured 10% of whole consumption, pushed by robust demand in Thailand.
AMPD lead analyst Dhivya T. stated: “Monetization stays strong and can additional enhance over 2024, reflecting a marked strategic shift by key VOD platforms searching for to speed up a path to profitability via changes in pricing, ARPU [average revenue per user] accretive packaging, and rationality in third get together partnerships, advertising and marketing and content material funding. The content material pillars that drive buyer acquisition, retention and engagement are actually effectively outlined with new Asian and native pillars rising.”
