Southeast Asian Streaming Subscriber Growth Stalls, But Revenues Soar to $1.4 Billion, Driven by Local and U.S. Content, Report Reveals
variety.comNaman Ramachandran Streaming subscription growth in the Southeast Asia region slowed dramatically in 2023, but revenue from those subscriptions grew at a robust rate, a new study has found.
The report from data analytics company AMPD, that is part of consultancy and research firm Media Partners Asia, shows that the region – that includes Indonesia, Malaysia, Philippines, Singapore and Thailand – added only 1.3 million net new SVOD subscribers in 2023, compared with 11 million in 2022.
But subscription revenues grew at 12.5% to $1.4 billion. Netflix, Viu, Disney, WeTV, iQiyi and Prime Video had more than 75% of total premium VOD category viewership and SVOD subscriptions revenues across the region, the Southeast Asia Online Video Consumer Insights & Analytics report said.
Netflix remains the leader with more than 45% viewership and subscription share in 2023. Among local services, Indonesia’s freemium sports and local-drama based platform Vidio ended 2023 with the highest amount of subscribers in Indonesia and 15% SVOD revenue share in the market, second only to Netflix in terms of monetization.
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