Asia Content Investment Slows to Single-Figure Growth, Says Report: ‘Many Traditional TV Drama Producers Are Struggling to Compete’
Patrick Frater Asia Bureau Chief Investment in content for the theatrical film, TV and streaming markets of India and East Asia amounted to $15.5 billion in 2023, a new report shows. But spending slowed to a growth rate of just 4%, a significant slowdown compared with the investment peak in 2021-22, driven by COVID. Media Partners Asia‘s (MPA) 2024 Asia Video Content Dynamics, report which covers India, Korea, Indonesia, Philippines, Singapore, Thailand and Vietnam, describes the slowdown as “a normalization of budgets and a rationalization of local content investment in streaming VOD.” India was the strongest-growing market, with a robust 12% growth, driven primarily by sports content, while Indonesia followed with a 5% increase.