Southeast Asia’s Streaming Surge: Netflix Leads But Competition Heats Up
Table of Contents
- 1. Southeast Asia’s Streaming Surge: Netflix Leads But Competition Heats Up
- 2. Netflix Remains Dominant, But Challenger Emerges
- 3. Indonesia Leads Revenue, Local Players Gain Ground
- 4. Content Diversification Drives Viewership
- 5. The Path Forward: Connected TV, Local Content, and Bundling Strategies
- 6. What strategies do you see platforms adopting to attract and retain subscribers in the face of intensifying competition?
- 7. Southeast Asia’s Streaming Surge: An Interview with Industry Expert, Aisha Patel
- 8. Netflix Reign, Max’s Entrance
- 9. indonesia’s Financial Dominance and Local Players
- 10. Content Trends
- 11. The Path Ahead
Southeast Asia’s premium video-on-demand (VOD) market experienced remarkable growth in 2024, wiht total industry revenues leaping 14% to reach $1.8 billion. Viewership soared to an notable 440 billion minutes, according to data from Media Partners Asia (MPA).
Netflix Remains Dominant, But Challenger Emerges
Netflix continued to reign supreme, commanding a commanding 52% share of viewership adn 42% of revenue. The streaming giant captivated nearly half of all new subscriptions in the fourth quarter of 2024 and concluded the year with over 12 million subscribers across Southeast Asia’s five key markets.
Though, a significant advancement shook the market in the fourth quarter: Warner Bros. Discovery’s max made a high-profile debut in November 2024. The arrival of Max, boasting a library of popular titles, quickly snagged 26% of new subscribers in the final quarter of the year, generating notable traction in Thailand. With over 1.4 million subscribers by year’s end,Max is poised to accelerate its growth in 2025,fueled by the release of highly anticipated originals like “White Lotus” Season 3.
Indonesia Leads Revenue, Local Players Gain Ground
Indonesia emerged as the region’s financial powerhouse, generating $552 million in revenue, followed closely by Thailand with $473 million. The vibrant growth story was primarily driven by robust performance in Indonesia, the Philippines, and Malaysia, which helped mitigate a slight slowdown in Thailand.
While Netflix holds a commanding led, local competitors are making their mark. Indonesia’s Vidio, as a notable example, secured 4.7 million subscribers in 2024, showcasing the strength of local players.Regional competitor Viu concluded the year with 9.5 million subscribers, further highlighting the intensifying competition in the market.
Content Diversification Drives Viewership
Korean content continues to captivate audiences, with shows like “Queen of Tears,” “My Demon,” and “Gyeongseong Creature” garnering strong viewership on Netflix. U.S.content holds a 20% share of premium VOD viewership, but southeast Asian and Chinese content are steadily gaining traction, particularly in the freemium segment. japanese anime remains a popular choice, notably on SVOD platforms in Thailand.
The Path Forward: Connected TV, Local Content, and Bundling Strategies
“Southeast Asia’s streaming landscape is evolving rapidly,” said Vivek Couto, executive director of MPA. “While Netflix has solidified its leadership position,the category is growing with the entry of Max and the scaling of local and regional platforms like Vidio,Viu and TrueID. The next phase of growth will be fueled by the expansion of connected TV and home broadband penetration.” couto added:
“Continued investment in local/Asian content and premium sports, led by Netflix and key local and regional platforms in Indonesia, Thailand, and Malaysia, will further stimulate growth. The industry is also exploring new strategies focused on short-form content and bundling partnerships to attract and retain subscribers.”
southeast Asia’s VOD market is poised for continued expansion, driven by increasing demand for streaming content, the proliferation of connected devices, and innovative strategies employed by both established players and emerging local competitors.
What strategies do you see platforms adopting to attract and retain subscribers in the face of intensifying competition?
Southeast Asia’s Streaming Surge: An Interview with Industry Expert, Aisha Patel
southeast Asia’s premium video-on-demand (VOD) market has seen remarkable growth in 2024, with total industry revenues reaching $1.8 billion and viewership soaring to 440 billion minutes, according to Media Partners Asia (MPA). We sat down with Aisha Patel,a leading industry analyst at MPA,to discuss the latest trends and insights into this dynamic market.
Netflix Reign, Max’s Entrance
Archyde (A): Netflix continues to dominate the market with a 52% share of viewership and 42% of revenue. What’s driving their success, and how are competitors responding?
Aisha Patel (AP): Netflix’s success can be attributed to their strong library of content, aggressive marketing, and constant innovation. Though, the entrance of Warner Bros. Finding’s Max in November 2024 has certainly shaken things up. Max secured 26% of new subscribers in the fourth quarter, thanks to its rich content library, including popular titles and highly anticipated originals like “White Lotus” Season 3.
indonesia’s Financial Dominance and Local Players
A: Indonesia leads in revenue generation. Can you discuss its significance and the role of local players in the market?
AP: indonesia’s revenue growth is primarily driven by robust performances in Indonesia, the Philippines, and Malaysia. While Netflix leads,local players like Indonesia’s Vidio and regional competitor Viu are making significant strides. vidio secured 4.7 million subscribers in 2024, demonstrating the strength of local players and the intensifying competition.
Content Trends
A: How are content trends evolving in the region, particularly in the freemium segment?
AP: Korean and U.S. content still top the charts, but Southeast Asian and chinese content are gaining traction, especially in the freemium segment. Local content diversification will certainly drive viewership in the coming years.
The Path Ahead
A: What are some key factors driving the market forward, and what strategies do you see platforms adopting?
AP: The expansion of connected TV and home broadband penetration will certainly drive growth. Continued investment in local and Asian content, premium sports, and new strategies focused on short-form content and bundling partnerships will also be crucial for platforms to attract and retain subscribers.
With constant innovation and a diverse range of content, Southeast Asia’s VOD market is poised for continued expansion. We thank Aisha Patel for sharing her insights and look forward to seeing how the market unfolds. What do you think will be the next big trend in Southeast Asia’s streaming scene? Share your thoughts in the comments below.
