VOD revenues in Southeast Asia in 2024 increased by 14 % to $ 1.8 billion, with Max appeared for the first time, according to another report issued by Media Partners ASIA (MPA).
MAX launched in the area that it captures 26 % of the Q4 net customer additions across the region, although Netflix continued to control, with 48 % of the Q4 net additions.
Indonesia led the market with $ 552 million in revenues, followed by Thailand with $ 473 million, taking into account MPA data for both subscription and advertising revenues across five markets in Southeast Asia. The growth of revenue was fueled by Indonesia, the Philippines and Malaysia, which led to a slight slowdown in Thailand.
The MPA report also found that the Q4 2024 was a period of large expansion, with the addition of 3.2 million new SVod subscriptions, which reaches the total regional to 53.6 million in the sea, an increase of 12 % on an annual basis. The total number of viewers increased by 7 % on an annual basis to 440 billion minutes in 2024.
“The Southeast Asian flow scene is developing quickly,” said Vivic Coto, MPA CEO. “Although Netflix strengthened its leadership position, the category grows with the entry of Max and expanding the scope of local and regional platforms such as Vidio, VIU and Trueid.
“The next stage of growth will be fed by expanding escalating TV (CTV) and the penetration of the wide broad range. Continuous investment in the local / Asian and sports content, led by Netflix and the main local and regional platforms in Indonesia, Thailand and Malaysia, will stimulate growth. Industry also explores new strategies focusing On the content of short shape and renewable partnerships To attract and keep the subscribers.
Netflix, who recently unveiled a group of products for Indonesia and Thailand, finished the 2024 overall year with 12 million combined customers throughout the main markets in Southeast Asia.
MAX from Warner Bros Discovery (WBD) entered Southeast Asia in November 2024 and seized 26 % of Q4 client additions, driven by strong performance in Thailand. The participation and growth of subscribers is expected to increase this year, with the emergence of a new Orkhals, including White Lotus Season 3 launch, and more WBD Pay-TV customers activate the application in the main markets. Max ended the fourth quarter with more than 1.4 million subscribers throughout the region.
Korean content is still common, in particular on offers on Netflix and VIU, while American content represents 20 % of excellent VOD viewers, driven by Netflix, Disney+ and Prime Video.
The content is increasing in Southeast Asia and Chinese, where it gets an increasing share of Freeemium scenes and a SVod joint acquisition on platforms like Vidio and VIU. The Japanese anime also works well, especially on Svod platforms in Thailand.
