Asia Video Market Forecast to Hit $165 Billion by 2028, Says Study
variety.comPatrick Frater Asia Bureau Chief Asia’s video industry is set to grow by an annual 2.6% over the next five years to reach $165 billion by 2028, says a new study from research and consultancy firm Media Partners Asia.
That follows 5.5% growth in 2023. The firm’s “Asia Pacific Video & Broadband Industry 2024” report spans a widely-defined cluster of free TV, pay-TV, SVOD, premium AVOD and user-generated content and social video in 14 Asia-Pacific countries and territories.
Its chief finding is the insight behind the ongoing move away from TV to online, which the authors call a “secular shift.” “Improved connectivity and rising connected TV penetration, combined with the growth of local creator economies, investment in premium local content as well as the wide availability of premium sports streaming, will continue to drive dollars and eyeballs online,” says MPA’s managing and executive director Vivek Couto.
China remains the region’s largest and most regulated video market, generating $64 billion in revenue in 2023. Excluding China, the largest markets in 2023 were Japan ($32 billion), India ($13 billion), Korea ($12 billion) and Australia ($9.5 billion), followed by Taiwan and Indonesia, both at around US$3 billion.
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