Premium VOD revenues in Southeast Asia in 2024 surged by 14% to reach $1.8BN, with Max having an encouraging debut, according to the latest report by Media Partners Asia (MPA).
Max’s launch in the region saw it capture 26% of Q4 net customer additions across the region, although Netflix continued to dominate, capturing 48% of Q4 net additions.
Indonesia led the market with $552M in revenue, followed by Thailand at $473M, with MPA data taking account of both subscription and advertising revenues across five markets in Southeast Asia. Revenue growth was fuelled by Indonesia, the Philippines and Malaysia, offsetting a slight slowdown in Thailand.
The MPA report also found that Q4 2024 was a period of significant expansion, with 3.2 million net new SVOD subscriptions added, bringing the regional total to 53.6 million in SEA, an increase of 12% year-on-year. Total viewership increased by 7% year-on-year to reach 440 billion minutes in 2024.
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“Southeast Asia’s streaming landscape is evolving rapidly,” said Vivek Couto, Executive Director of MPA. “While Netflix has solidified its leadership position, the category is growing with the entry of Max and the scaling of local and regional platforms like Vidio, Viu and TrueID.
“The next phase of growth will be fuelled by the expansion of connected TV (CTV) and home broadband penetration. Continued investment in local / Asian content and premium sports, led by Netflix and key local & regional platforms in Indonesia, Thailand, and Malaysia, will further stimulate growth. The industry is also exploring new strategies focused on short-form content and bundling partnerships to attract and retain subscribers.”
Netflix, which recently unveiled a batch of productions for Indonesia and Thailand, ended calendar year 2024 with 12 million customers combined across Southeast Asia’s five major markets.
Warner Bros Discovery (WBD)’s Max entered Southeast Asia in November 2024 and captured 26% of Q4 net customer additions, driven by strong performance in Thailand. Increased engagement and subscriber growth are expected this year, as new originals debut including White Lotus Season 3 launch, and more WBD pay-TV customers activate the app in key markets. Max ended Q4 with more than 1.4 million subscribers across the region.
Korean content remains popular, in particular shows on Netflix and Viu, while US content accounts for 20% of overall premium VOD viewership, driven by Netflix, Disney+ and Prime Video.
Southeast Asian and Chinese content is on the rise, capturing a growing share of freemium viewership and SVOD subscriber acquisition on platforms such as Vidio and Viu. Japanese anime is also performing well, particularly on SVOD platforms in Thailand.
The post Max Has Successful Launch In Southeast Asia As VOD Revenues Increase 14% To $1.8B — MPA appeared first on Deadline.
