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Subscription video on demand in the Asia-Pacific region - statistics & facts

Subscription video on demand (SVOD) has fast become a global phenomenon, with millions of the world’s populations opting to subscribe to services such as Netflix and Amazon Prime. These video streaming platforms provide online TV content efficiently and at lower prices than traditional TV channel services. Television series and films can be downloaded to internet-connected devices, such as phones, laptops, and tablets, and thus can be watched when and wherever the consumer wishes. Although the SVOD market has predominantly experienced success in America and Europe, the Asia-Pacific region has emerged as SVOD’s newest market. The region’s recent technological improvements and digitization have provided Asian citizens with increased connectivity and access to the internet. This, in turn, has made technology-craving consumers across the Asia-Pacific region - the most sought-after customers for video streaming platforms. Consequently, competition between the global renown and the local Asia-Pacific platforms has increased.

Increased accessibility

The attractiveness and freedom of being able to watch TV content outside of the home, along with increased streaming quality, have been factors that have driven consumers to opt for subscription-based online TV services over traditional broadcast TV. Consumers across the Asia-Pacific region have explicitly stated they are more likely to use SVOD services rather than watch traditional TV. SVOD platforms offer a wider variety of television series and films, making them the preferred choice compared to traditional TV services.

Competition between platforms

As the Asia-Pacific region adapts to new ways of enjoying TV content, the competition between regional and local video streaming platforms has increased. Netflix has enjoyed success in the Asia-Pacific region, overstepping the billion-dollar mark in revenue. However, although Netflix currently remains the leading SVOD service throughout the Asia-Pacific region. However, due to their lack of presence in the Chinese market, Chinese platforms exceed in terms of subscription numbers.

COVID-19 impacts and the future of SVOD

Despite the recent increase of SVOD consumption among consumers, there have been Asian platforms which have not been able to keep up with the leading performers of the SVOD industry. Singaporean-based HOOQ filed for liquidation due to regional competition; iflix was also bought by Chinese conglomerate Tencent. However, SVOD platforms such as Vidio, iWant, meWatch, and LineTV have experienced success in their own respective countries but not necessarily on a regional scale. Developing alongside the success of the SVOD industry in Asia, speculation has emerged of whether or not SVOD platforms will be able to keep the new customers which they acquired during the COVID-19 pandemic. Concerns have been expressed suggesting customers may cancel subscriptions post-COVID-19. However, the SVOD industry is still expected to accrue more subscribers in the Asia-Pacific region, while amassing a sizeable market share.

Interesting statistics

In the following 5 chapters, you will quickly find the 26 most important statistics relating to "Subscription video on demand (SVOD) in the Asia-Pacific region".

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