Southeast Asia SVOD Numbers Flat In 2023 First Half While TikTok Booms, Report Says
deadline.comSoutheast Asia only added 7,000 net new SVOD subscriptions in the first half of 2023, a big slowdown from 7 million new subscribers in the second half of last year, according to a report from Media Partners Asia (MPA).
The flat figures are also down on the first half of 2022 when the region added 3.7 million net subscribers. Offsetting the decline from contracting platforms, Netflix, Prime Video and Viu added an aggregate 1.2 million customers during the period, accounting for 63% of new subscriptions among growing platforms.
At the same time, TikTok was “increasingly a major driver of viewership growth on mobile and web platforms, responsible for over 70% of growth in streaming minutes over the past two years”, the report stated.
TikTok captured 42% of video streaming minutes in the first half of 2023, a huge 20 percentage point increase compared to the first half of 2021, and 7 percentage point increase over the first half of 2022.
Read more on deadline.com