Investment grew 9% year-on-year, largely in South Korea and India. South Korea rose by 7.1%, while India surged 19% to $6.2 billion.
Meanwhile, Southeast Asian markets saw mixed performance: Indonesia fell 7% to $855 million, Malaysia and the Philippines dipped 3 to 4%, and Thailand and Vietnam also recorded declines. Despite this, total content investment in the region is forecast to reach $16.7 billion by 2029, with India expected to nearly match South Korea in market value.
Streaming is cementing its dominance. With TV budgets shrinking, content investment across platforms is projected to dip 2% to $15.8 billion, but streaming alone is expected to account for $5 billion, overtaking free-to-air and pay TV.
Consumption reflects this shift: in Q2, India’s premium HOD viewing hit 21.5 billion hours, while South Korea and Indonesia logged 1.2 billion hours each. Philippines, Thailand, and Malaysia recorded 900 million, 500 million, and 400 million hours, respectively.
Market share is concentrated among a few players. In India, JioHotstar controls 56%, with Amazon Prime Video and MX Player taking another 25%. Sports, particularly cricket, remain key engagement drivers. In Korea, Indonesia, Malaysia, and the Philippines, Netflix dominates with 50-80% of the market.
The film sector tells a similar story. India leads with $1.4 billion in box office revenue, powered by South Indian films. South Korea fell 17% to $808 million, while Southeast Asia saw modest growth—Indonesia reached $294 million.Key trends
- Broadcasters shift toward aggregation and content licensing in response to declining ad spend.
- Streaming platforms deprioritise original content and focus on profitability over growth as local producers scale across film, TV, and streaming.
- AI adoption is accelerating, so production workflows and localised marketing and dynamic ad monetisation is streamlining.
- Sports rights and premium local content continue to drive engagement, particularly in India and Korea.
- TV spend share projected to decline from around ~59% in 2025 to 51% in 2029; streaming to rise from ~31% to 38%; theatrical share to grow slightly from 10% to 11%.
- Traditional TV remains strong in Thailand and Vietnam, while South Korea and the
- Philippines see younger viewers shift to streaming. Indonesia’s TV sector remains stable with strong ratings (e.g., RCTI, SCTV).
- Streaming platforms such as TrueID (Thailand), Vidio (Indonesia), and Viu (South Korea/Southeast Asia) retain traction with East Asian and localised content.
- Variety shows and reality formats are gaining traction in South Korea and India; Korean dramas and Hollywood films dominate premium VOD, representing over half of viewership.
“Content investment across Asia Pacific remains resilient, even as platforms and broadcasters confront rising costs and softer advertising. Sports rights in India and Korea are powering much of the near-term growth, while selective bets on premium drama and local storytelling continue to drive engagement in India, Korea, Indonesia and Thailand,” said Stephen Laslocky, vice president at MPA.
“At the same time, viewership dynamics are shifting. The challenge for the industry is to balance growth and profitability: to invest smartly in the stories that resonate, adapt to the ad-supported future, and embrace innovations like AI to make content creation and distribution more efficient.”
