Asia Pacific OTT revenues to climb by $20 billionThursday, March 24th, 2022
Asia Pacific OTT revenues to climb by $20 billion
OTT TV episodes and movies revenues for 22 Asia Pacific countries will reach $52 billion in 2027; up by 62% from the $32 billion recorded in 2021. From the $20 billion additional revenues, China will add $3 billion, India $3 billion, South Korea $3 billion and Japan $5 billion. Indian revenues will more than double.
Much of the growth will go ahead outside China. The Chinese government’s clampdown on fan-based culture hit reality productions hard, resulting in SVOD subscriber growth deceleration.
Market leader Tencent Video yesterday reported only a 1% increase in SVOD subscriptions for 2021. The situation was worse for second-placed iQiyi, which lost 6 million subscribers in 2021 to take its total to 96.4 million.
Simon Murray, Principal Analyst at Digital TV Research, said: “Can one country make that much difference? China was responsible for 37% of Asia Pacific’s OTT revenues in 2021. Luckily, there is plenty of growth elsewhere.”
Asia Pacific SVOD revenues will reach $28 billion by 2027, up from $18 billion in 2021. AVOD will grow by $8 billion to $19 billion by 2027.
Links: Digital TV Research