As a veteran movie buff with a penchant for exploring global film landscapes, this insight into Southeast Asian media markets is nothing short of exhilarating! The digital advertising growth and streaming platform expansion in Indonesia, Thailand, Vietnam, and other territories promise an exciting future for content development and format adaptation.
An examination of the media industries across Southeast Asia indicates a substantial increase in digital advertising and the broadening of streaming platforms. Notably, Indonesia, Thailand, and Vietnam are identified as crucial regions for producing new content and adjusting formats.
As per analysis by K7 Media U.K., shared by their associate director of operations, Michelle Lin, during the Taiwan Creative Content Fest (TCCF), Indonesia emerges as the most promising market in the region, showing a steady annual growth rate of 8.5% in entertainment and media earnings. Thailand and Malaysia are next in line with a growth rate of 4.4%, while Taiwan and the Philippines trail slightly behind at 4.1%.
In Southeast Asia, the pattern of digital advertising expenditure aligns with global tendencies. Countries like Singapore, Thailand, and Malaysia are devoting a significant portion of their ad spending to digital channels, with Indonesia and Vietnam not far behind. The study predicts that revenue from connected TVs will nearly double between 2023 and 2028.
In Indonesia, both Disney+ and Netflix account for more than 20% of the Subscription Video On Demand (SVOD) market share. However, it’s local platform Vidio that boasts the most subscribers, with approximately 4 million users. The SVOD market is largely controlled by four prominent media groups, with RCTI, owned by MNC Group, holding the title as the nation’s leading television channel.
In Thailand, Netflix dominates the streaming scene as the preferred choice among a majority of survey respondents, accounting for approximately one-third of consumers. TrueID trails close behind with around 21%, while Disney+ Hotstar holds about 13% of the market share. The streaming industry in Thailand has witnessed substantial changes in content agreements, with Paramount Global striking a partnership with Mono to introduce Paramount+’s brand into the Thai market.
In Vietnam, the television industry is predominantly affected by government influence, with VTV managing seven national channels. The streaming market features a variety of local platforms, with FPT Play and Netflix being the top paid services. Notably, Vietnam has become the largest buyer of unscripted TV formats in Asia, particularly showing interest in Chinese formats from companies such as Hunan TV and Shanghai Media Group.
Format adaptation trends vary by territory. While Indonesia acquired nine unscripted formats versus one scripted format in 2023, Thailand secured 10 unscripted and approximately 15 scripted formats, primarily from Korea. Vietnam maintains strong interest in unscripted content, particularly talent shows and game shows.
The study underscores Taiwan’s increasing influence in the Asian media landscape, placing it just behind South Korea in terms of market impact. Taiwan’s modern cinema and commitment to regional media growth have earned it respect within the industry. Moreover, the report predicts that Subscription Video on Demand (SVOD) will continue to dominate around 70% of the total Video on Demand (VOD) revenue worldwide until 2027. However, SVOD’s share might decrease from its current 76%, as Advertising Video on Demand (AVOD) gains traction, expanding at a rate three times faster than SVOD during the forecast period.
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2024-11-05 09:16