Southeast Asian media markets show digital growth amid streaming wars
A comprehensive trend analysis of Southeast Asian media markets reveals significant growth in digital advertising and expansion of streaming platforms, with Indonesia, Thailand and Vietnam emerging as key areas for content development and format adaptation.
According to K7 Media UK’s analysis, presented by the company’s associate director of operations Michelle Lin at the Taiwan Creative Content Fest (TCCF), Indonesia stands out as the most promising market in the region, with an annual growth rate of 8.5 % in entertainment and media revenues. Thailand and Malaysia follow with 4.4%, while Taiwan and the Philippines follow with 4.1%.
Digital ad spend in Southeast Asia reflects global trends, with Singapore, Thailand and Malaysia allocating the largest share of ad budgets to digital platforms, followed by Indonesia and Vietnam. The research shows that connected TV revenues are expected to double between 2023 and 2028.
In Indonesia, where Disney+ and Netflix each have more than 20% of the SVOD market, local platform Vidio is the leader in subscribers with 4 million users. The market is dominated by four major media groups, with MNC Group’s RCTI retaining its position as the country’s top channel.
The Thai media landscape shows that Netflix is the most popular streaming service, with over a third of consumers surveyed. TrueID follows at 21%, with Disney+ Hotstar at 13%. The market has seen significant movement in terms of content deals, with Paramount Global recently announcing a partnership with Mono to launch a Paramount+ brand extension.
Vietnam’s television sector remains mainly under government influence, with VTV operating seven channels nationwide. The streaming market includes multiple local platforms, with FPT Play and Netflix being the leading paid services. The region has become the largest consumer of non-scripted formats in Asia, with Chinese formats from providers such as Hunan TV and Shanghai Media Group being particularly favored.
Resizing trends vary by area. While Indonesia acquired nine unscripted formats versus one scripted format in 2023, Thailand secured 10 unscripted and about 15 scripted formats, mainly from Korea. Vietnam has a strong interest in unscripted content, especially talent shows and game shows.
The survey highlights Taiwan’s growing prominence in Asian media, with industry observers ranking the country second only to Korea in market effectiveness. The area has gained recognition for its contemporary film production and institutional support for the development of regional media. The analysis also shows that SVOD is expected to retain over 70% of total VOD revenues worldwide through 2027, although its share could decline from 76% as AVOD gains momentum, growing three times faster than SVOD.
