The Asia-Pacific region is now the largest contributor to growth of the global online video industry, a major new study published Monday finds. With the U.S. and Europe fast maturing and China inac…
“YouTube and Meta are being challenged by ByteDance. TikTok’s consumption continues to soar in Southeast Asia in particular, and monetization is building. YouTube still dominates in Japan and Korea,” the report notes.
The report describes Australia as “a high revenue generating market [where] SVOD has reached maturity, with household penetration at 85% in 2022, higher than even the U.S.” In the SVOD category in Asia-Pacific, Netflix, Disney and Amazon are the market leaders.Outside of China, Netflix this year is forecast to have 33% of the SVOD revenue pie ; Amazon Prime Video, 12%; and Disney+ at 11%.
Successful locally-owned platforms are emerging in Australia, Indonesia, Japan, and Korea. “Indonesia’s Vidio is leveraging content production synergies and a library of popular local entertainment content and sports rights, to drive a potentially large scale SVOD business,” the report says. “Australia’s Stan is on a similar SVOD trajectory but faces greater competition from global giants and is more reliant on licensed and acquired content.
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