Southeast Asia solely added 7,000 web new SVOD subscriptions within the first half of 2023, an enormous slowdown from 7 million new subscribers within the second half of final yr, in response to a report from Media Companions Asia (MPA).
The flat figures are additionally down on the primary half of 2022 when the area added 3.7 million web subscribers. Offsetting the decline from contracting platforms, Netflix, Prime Video and Viu added an mixture 1.2 million clients in the course of the interval, accounting for 63% of latest subscriptions amongst rising platforms.
On the identical 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 acknowledged.
TikTok captured 42% of video streaming minutes within the first half of 2023, an enormous 20 share level improve in comparison with the primary half of 2021, and seven share level improve over the primary half of 2022. The quick video app’s rise diminished share for each YouTube, which was down 4% year-on-year, and premium VOD, down 2% year-on-year.
In complete, Southeast Asia had 47.6 million SVOD subscriptions on the finish of the primary half of 2023. Subscriber development in Thailand, Malaysia and the Philippines was offset by contraction in Indonesia, the place complete subscriptions fell by 1.2 million.
MPA attributed the slowdown throughout the area to 3 elements, together with:
- Subscriber churn in Indonesia following the tip of the FIFA World Cup soccer match in December 2022 and the tip of the 2022-23 Premier League season in Could 2023;
- The impression of considerably diminished native advertising and content material funding outdoors of Netflix, Prime Video and Viu, who all contributed to regional development in 2023 first half;
- and the results of value will increase carried out by key platforms.
The three rising platforms – Netflix, Prime Video and Viu – all faucet into the recognition of Korean dramas, the one largest content material class in Southeast Asia premium VOD, capturing 40% of premium VOD viewership throughout the area within the first half of the yr. Prime reveals in the course of the interval included Netflix’s The Glory and Viu’s Taxi Driver Season 2.
Nonetheless, all main streaming providers are additionally investing in Southeast Asian content material, which captured 13% of premium VOD viewership, whereas US content material accounted for 21%, Japanese anime 10% and Chinese language content material 9%.
Thai content material had the strongest regional impression, with Netflix’s thriller film Starvation changing into probably the most broadly travelled present.
“The region’s leading premium VOD platforms are in the midst of a shift towards quality customer growth, retention, and monetization,” stated MPA government director Vivek Couto. “Netflix has diminished costs and launched member sharing measures whereas Disney has raised costs in Indonesia and Thailand in an effort to construct low-churn, excessive ARPU buyer bases.
“We expect Vidio in Indonesia to pick up subscribers with the return of Liga 1 and the Premier League in 2H, along with impactful local slates from Netflix and Amazon, particularly in Thailand and Indonesia, attracting new subscribers, while Viu will continue to benefit from its Korean output.”
Premium VOD excludes figures for YouTube, TikTok and gaming streaming. MPA’s ‘Southeast Asia Online Video Consumer Insights & Analytics’ report tracked key metrics throughout the web video class with passive and institution panels in 5 SEA markets: Indonesia, Malaysia, the Philippines, Singapore and Thailand.
