REVENUES UP 11 % IN 1H 2024 FOR SOUTHEAST ASIA’S PREMIUM VOD SECTOR AS KOREAN, CHINESE, US & JAPANESE ANIME DRIVE ENGAGEMENT
August 13, 2024 12:54 pmThe premium video-on-demand (VOD) landscape in Southeast Asia continues to grow revenues at double digit pace with viewership relatively robust, as revealed by the latest analysis conducted by ampd, the digital measurement platform owned and operated by Media Partners Asia (MPA).
Southeast Asia’s premium VOD category generated more than 230 billion minutes in viewership over 1H 2024, up 4% Y/Y, driven by growth in the Philippines and Indonesia. Category revenues, including subscription fees and advertising sales, grew 11% Y/Y to US$895 million with gains across the region’s five main markets, Indonesia, Thailand, Malaysia, Philippines and Singapore. Indonesia continues to retain #1 position in terms of revenues. The region added ~1 million net new SVOD subscriptions over 1H 2024 to reach 48.8 million, representing Y/Y growth of 5%. Philippines,Thailand and Malaysia led customer growth.
MPA executive director Vivek Couto said: “While price increases have moderated customer growth, growing penetration beyond the major urban centers in Indonesia, Philippines and Thailand remains a major opportunity as premium sports, local, Asian and US content moves online. Korean, US, Chinese & Japanese content captured 80% of premium VOD viewership in Southeast Asia in 1H 2024. While Korean content remains the major driver, Chinese dramas are increasing freemium viewership. US content remains the leading acquisition funnel across global services. Local content maintains strong reach, with acquisition impact.”
Netflix and Viu both grew revenues at a significant double digit pace in 1H 2024.Netflix’s share of category viewership reached 50% in 1H 2024 overall, dominating viewership in Malaysia, Philippines and Singapore but facing strong local competition and more complex category dynamics in Indonesia and Thailand. Netflix’s category revenue share, including ads, reached 40% in 1H 2024. Viu had 10% viewership and category revenue share in 1H 2024. In spite of shedding subs, Disney+ revenues continue to grow as the service focuses on a higher ARPU customer funnel. WeTV retained a robust category engagement share in SEA at 8% in 1H 2024. Amongst local players, Vidio leads in Indonesia with ~20% category revenue share in 1H 2024 and 17% viewership share, driven by heartland local dramas and sports. Thailand’s True ID led Thailand with 27% premium VOD category viewership share though it remains second to Netflix in revenue share.
Premium VOD Viewership in Southeast Asia (1H 2024)
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Source: ampd |
About this report
The ampd platform uses a permission-based panel of consumers who consent to the collection of their session- based activity. For this report, the platform passively measured real consumption on all web-based platforms and Android mobile devices in Southeast Asia in 2024 with a sample size of 15,000 passive users, and an establishment survey with a sample size of 17,000. ampd Vision was used by MPA to provide a granular view of streaming content consumption across key VOD services. All data is based on ampd’s proprietary weighting & projection techniques to be nationally representative of mobile consumption for individuals aged 15 to 69. The data reported is anonymized and conforms to data privacy legislation in markets where the service operates including European Union’s General Data Protection Regulation (GDPR) and the Republic of Singapore’s Personal Data Protection Act (PDPA) which delivers parallel compliance in Asia-Pacific Economic Cooperation (APEC) member states.
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About ampd
Across 10 markets ampd leverages 60,000 passively measured panel members with two SaaS based products – ampd Vision and ampd Pulse – while providing customized research to our clients across a variety of sectors including Streaming VOD, Content, Advertising, Telecoms and more. Our clients include leading global internet and technology brands, streaming VOD platforms, Hollywood and Asian content studios, advertising agencies, telcos and pay-TV operators. ampd won the Best International Video Media Research Award at the 2023 UK Mediatel Media Research Awards, which recognizes organizations driving innovation in research.
ampd
ampdanalytics.com/
Media Partners Asia
media-partners-asia.com/
Contact
Lavina Bhojwani, Vice President
(lavina@media-partners-asia.com)
Categorised in: Industry News, Member News
This post was written by Media Partners Asia