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American Focus > Blog > Entertainment > Southeast Asian Media Markets Show Digital Growth Amid Streaming Wars
Entertainment

Southeast Asian Media Markets Show Digital Growth Amid Streaming Wars

Last updated: November 4, 2024 11:33 pm
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Southeast Asian Media Markets Show Digital Growth Amid Streaming Wars
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The Southeast Asian media market is experiencing significant growth in digital advertising and streaming platform expansion, particularly in countries like Indonesia, Thailand, and Vietnam. According to K7 Media U.K. analysis presented at the Taiwan Creative Content Fest, Indonesia is leading the pack with an 8.5% annual growth rate in entertainment and media revenue. Thailand and Malaysia follow closely behind at 4.4%, with Taiwan and the Philippines at 4.1%.

In terms of digital advertising spending, Singapore, Thailand, and Malaysia are allocating the largest share of their ad budgets to digital platforms, with Indonesia and Vietnam not far behind. The research also predicts that connected TV revenue is expected to double from 2023 to 2028.

In Indonesia, both Disney+ and Netflix are dominating the SVOD market, each commanding over 20% of market share. Local platform Vidio leads in subscribers with 4 million users, while the market is primarily controlled by four major media groups, with MNC Group’s RCTI maintaining its position as the top channel.

Thailand’s media landscape is seeing Netflix as the most popular streaming service, capturing over one-third of surveyed consumers. TrueID and Disney+ Hotstar follow closely behind. Recent content deals have been made in the market, with Paramount Global partnering with Mono to launch a Paramount+ brand extension.

Vietnam’s television sector is heavily influenced by the government, with VTV operating seven nationwide channels. FPT Play and Netflix lead the paid streaming services market, with the country emerging as the largest buyer of unscripted formats in Asia, particularly favoring Chinese formats.

Format adaptation trends vary across the region, with Indonesia focusing more on unscripted formats, Thailand securing a mix of unscripted and scripted formats primarily from Korea, and Vietnam showing a strong interest in talent shows and game shows.

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Taiwan is gaining prominence in the Asian media market, positioning itself as second only to Korea in market effectiveness. The territory is known for its contemporary film output and institutional support for regional media development. The analysis also predicts that SVOD will continue to dominate total VOD revenue globally, although AVOD is gaining momentum and growing at a faster rate than SVOD.

Overall, the Southeast Asian media market is evolving rapidly, with key trends in digital advertising, streaming platforms, and content adaptation shaping the industry landscape.

TAGGED:AsianDigitalGrowthMarketsMediaShowSoutheastStreamingWars
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