Korea, India and Southeast Asia climbed 21% in 2021 to reach $10.4 billion. They are forecast to grow a further 15% to $12 billion in 2022, according to the 2022 edition of the Asia Video Content Dynamics report.The report, published by consultancy and research firm Media Partners Asia (MPA), attributed the 2021 surge to key operators replenishing content pipelines after the initial waves of COVID-19 depleted programming inventories in 2020.
All content verticals except theatrical generated strong gains. Key film costs contracted 2% as pandemic restrictions delayed releases in many markets, the report found.
However, film is projected to be the fastest growing sector, at 140%, as cinemas screen fresh movies. Some film markets, such as India and Indonesia, are expected to fully recover but in other markets, a return to pre-COVID heights may take until 2023, the report predicts.
Korea and India were the largest content investment markets with a combined $7.4 billion, while other markets reached $400-900 million each.
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