❮
❯
TRENDING
Feb. 27, 2024
Bright OTT Outlook for Asia-Pacific
Asia Pacific OTT TV episodes and movie revenues are forecast to reach $49 billion in 2029.By K Dass.
According to the Asia Pacific OTT TV and Video
Forecasts report by Digital TV Research, Asia Pacific’s OTT TV episodes and
movie revenues are projected to reach $49 billion in 2029. This significant
growth is expected despite China, the world’s second-largest market, maturing
rapidly, and India experiencing a shake-up in SVoD (Subscription Video on
Demand) services.
Here are some key points to note:
Ø In
2023, the recorded revenue was $34 billion.
Ø China
will continue to be a major player, accounting for 39% of the region’s total
revenues by 2029 (down from 47% in 2023), even as other countries grow faster.
Ø India
faced disruptions in its SVoD sector due to the Indian Premier League cricket
converting to AVoD (Advertising Video on Demand) in 2023.
Ø Asia
Pacific’s SVoD revenues surpassed AVoD revenues in 2019.
Ø While
AVoD is expected to recover, its revenues will remain lower than SVoD.
Ø Between
2023 and 2029, SVoD revenues are projected to climb by $4 billion, and AVoD
revenues by $9 billion.
Ø Interestingly,
the big six US-based platforms (such as Disney, Warner Bros Discovery, and
Paramount) will account for only 18% of the region’s OTT revenues by 2029,
which is the lowest proportion for any region.
It’s fascinating to see how the landscape of
streaming services is evolving in the Asia Pacific region, with various factors
influencing revenue growth and market dynamics.
