Positive momentum in the SEA premium VoD sector

The premium VoD landscape in Southeast Asia (SEA) is witnessing a robust resurgence, as evidenced by the latest Q1 2024 analysis conducted by ampd, the digital measurement platform owned and operated by Media Partners Asia (MPA).

In the first quarter of 2024, SEA’s premium VoD sector showed stability and growth, with a total viewership of 96.3 billion minutes, similar to the previous quarter. Notably, the region saw a significant increase in total paying subscriptions, to 48.5 million, representing a net addition of 652,000 quarter-over-quarter and 1.6 million year-over-year. Such growth translated into a 9 percent year-on-year and 5 percent quarter-on-quarter increase in total subscription revenue to $381 million, marking a milestone as the highest quarterly revenue in the region. Of the five markets analyzed, Indonesia and the Philippines emerged as growth leaders, with Thailand and Indonesia showing strong market sales, followed closely by the Philippines.

Vivek Couto, Managing Director of MPA, reflected on the Q1 2024 findings and noted: “After a challenging period in 2023, the Southeast Asian premium VOD sector has demonstrated resilience and notable improvements since Q4 2023 , a trend that has continued into the first quarter of 2024. We have seen better monthly churn rates, along with robust growth in subscribers and subscription revenue. Investments in local content and marketing have been strategic and for the most part sustainable, as leading platforms continue to invest in local entertainment and sports.”

Key trends include the continued popularity of Korean and American content, which is a key driver of customer engagement across the region. Local content remains a cornerstone, especially in Indonesia and Thailand, where successful platforms have expertly tailored their offerings to resonate with local audiences.

Netflix maintained its position as the top earner in the category, with 49 percent of revenue from SEA Premium VoD subscriptions in the first quarter and 10 million subscribers in the first quarter of 2024. Viu was in second place with 9.1 million paying customers and experienced double-digit growth in subscription prices, driven by market conditions. expansion and successful local hits. Disney grew revenue year-over-year, despite the addition of customers resulting from its strategy to increase prices in the direct and wholesale segments. Disney+ maintained its revenue share from SEA Premium VoD subscriptions at 11 percent.

In Indonesia, Vidio maintained its leading position in the country in terms of subscribers, with 4.1 million customers, fueled by premium sports content and local dramas. Meanwhile, in Thailand, TrueID saw growth driven by local originals, Premier League football and Japanese anime.

Korean dramas continued to dominate as the top content category, attracting nearly 30 percent of the total premium VoD viewership in the first quarter of 2024, closely followed by US content. Chinese content has also made significant progress, especially on freemium platforms across multiple markets, including WeTV, Viu and iQIYI. Demand for local SEA content remains robust, especially on freemium platforms, indicating strong affinity among viewers. High-impact originals such as Indonesian dramas on Vidio and Thai content on Viu resonated strongly with audiences, underscoring the importance of local stories. E-Coach Project