In Q4 2024, Max, Warner Bros. Discovery’s standalone launch in Southeast Asia, saw a significant surge in popularity, amassing approximately 1.4 million subscribers in the region, as per recent studies.
In the Q4 2024 “Online Video Consumer Insights & Analytics Report” published by Media Partners Asia (MPA), based in Singapore, it was revealed that streaming service Max expanded into five Southeast Asian countries – Thailand, Malaysia, Indonesia, Singapore, and the Philippines – in November 2024. In this quarter, Max accounted for 26% of new customer additions in the Southeast Asian (SEA) streaming market. The service’s launch was marked by popular titles like “House of the Dragon”, “The Big Bang Theory”, and “Friends”. The report suggests that Max’s success was particularly strong in Thailand. MPA anticipates that Max will witness further engagement and subscriber growth in 2025, as it releases new originals, with the highly-anticipated third season of HBO’s “The White Lotus”, set in Thailand, being a significant addition. Additionally, as more and more Warner Bros. Discovery (WBD) pay-TV customers activate the Max app in key Southeast Asian markets, MPA expects this to contribute to Max’s subscriber growth in 2025.
Even though I’ve had a great kickoff, I’ve got a long road ahead if I want to compete with Netflix in Southeast Asia. According to MPA, Netflix dominated Q4 of 2024 in SEA, accounting for almost half of new subscribers. Their edge? A powerful content lineup – Korean and American movies and shows, plus an ever-growing library of local original productions. Just like they did with bigger Asian markets, Netflix plans to boost its production presence in SEA markets, announcing 14 original productions for Indonesia and Thailand in 2025 alone. The report reveals that by the end of 2024, Netflix had almost 12 million customers collectively across SEA’s five markets. So, I’ve got my work cut out for me!
The data in the report indicates that Netflix dominates the Southeast Asian (SEA) streaming market with a substantial 52% viewership share and 42% revenue share. Yet, it’s important to note that the competition is intensifying, especially in Indonesia and Thailand, where homegrown services like Vidio (with approximately 4.7 million subscribers in 2024) and regional platforms such as Viu (boasting 9.5 million SEA customers at the end of 2024) are gaining ground. Disney+ still holds a strong position with a 10% revenue share in the region, thanks to its recent price adjustments and service restructuring.
In the fourth quarter of 2024, it was noted that there was a substantial growth spurt for streaming services overall, resulting in approximately 3.2 million new Subscription Video on Demand (SVOD) subscriptions. This expansion pushed the total number of SVOD users in Southeast Asia to 53.6 million, marking a 12% increase compared to the same period the previous year. The growth was predominantly driven by Indonesia, the Philippines, and Malaysia.
The report further indicated that combined SVOD revenues, which encompass both subscriptions and advertising, jumped by 14% in Q4 2024 to reach an impressive $1.8 billion. Indonesia led the pack with revenues amounting to $552 million, closely followed by Thailand’s $473 million.
Vivek Couto, MPA’s executive director, stated that the streaming market in Southeast Asia is rapidly changing. Although Netflix has established a strong leadership, the sector is expanding with the arrival of Max and the growth of local and regional platforms like Vidio, Viu, and TrueID. The next stage of development will be driven by increased connected TV and home broadband availability. Further growth will be spurred by continued investment in local/Asian content and premium sports, primarily by Netflix and key regional players in Indonesia, Thailand, and Malaysia. Additionally, the industry is looking into new approaches involving short-form content and partnerships for bundling offers to attract and retain subscribers.
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2025-02-20 06:25