According to K7 Media U.K. analysis presented by Michelle Lin at the TCCF, Indonesia leads Southeast Asia with an 8.5% annual growth rate in entertainment and media revenue, positioning it as the most promising market. Following are Thailand and Malaysia with 4.4%, and Taiwan and the Philippines at 4.1%. This indicates a significant shift in content development and sales where local markets are adapting global formats to cater to regional audiences.
The analysis clearly indicates that digital advertising spending in Southeast Asia reflects global patterns, notably with Singapore, Thailand, and Malaysia dedicating the largest share of ad budgets to digital platforms. Indonesia and Vietnam are also making strides in this area, while connected TV revenue is projected to double between 2023 and 2028, signaling a burgeoning opportunity for advertisers seeking engagement in the digital realm.
In Indonesia, Disney+ and Netflix dominate the SVOD market, each capturing over 20% of market share. However, local platform Vidio leads with 4 million subscribers, showcasing a strong local presence against global players. The media landscape is majorly steered by four major media groups, with MNC Group's RCTI being the top channel, indicating that despite global competition, local content still has significant traction.
Thailand's streaming market is particularly competitive, with Netflix leading at over a third of consumer preference, followed by TrueID and Disney+ Hotstar, indicating a diverse consumer base. Recent partnerships, like the one between Paramount Global and Mono, suggest a proactive approach in expanding content offerings to attract diverse audiences, further indicating the trend of regional content adaptation sharpening viewers’ preferences.
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