Viu continues robust growth in subscriptions and digital advertisingMonday, February 27th, 2023
Viu continues to tap robust growth in both subscription and digital advertising, named as a key driver of Southeast Asia OTT subscription growth in Q4 2022, according to MPA report
- Revenue surpasses US$200 million for year 2022, with 45% year-on-year growth
HONG KONG/SINGAPORE — In the financial results announced by its parent company, PCCW Limited (SEHK:0008), for the year ending 31 December 2022, Viu, PCCW’s leading pan-regional OTT video streaming service operating in 16 markets, continued to deliver strong revenue growth and attained positive EBITDA for the first year. Monthly active users (MAU) of the service grew by 13% year on year to 66.4 million and paid subscribers grew more than 45% for the same period to 12.2 million. Viu has remained at the top spot in terms of MAU for the 12th consecutive quarter and ranked second in paid subscribers and streaming minutes across the Southeast Asia region.
Viu’s revenue also grew by 45% year on year to US$206 million in 2022. Launched in 2015, Viu is one of the region’s earliest adopters of the premium subscription and digital advertising dual revenue model. With consistent efforts in driving D2C service and expanding distribution through partnerships with telecom operators, digital partners, brands and ad agencies at both the local and regional level, Viu saw solid growth in both their SVOD and AVOD revenue on the platform.
The recently released MPA report “SEA Online Video Consumer Insights & Analytics, Q4 2022” described Viu’s performance for the year as follows:
“Southeast Asia Online Video added 4.6 million net new paying customers in Q4 2022, the highest category growth since Q2 2021. Viu was one of the top two OTT services that drove approximately 51% of net subscriber additions aggregated across five SEA markets. Viu has built a robust subscriber acquisition funnel through a freemium model, with growing focus on paid content and subscribers. In addition, Viu is among the three leading platforms in SEA, accounting for an aggregate 52% of subscriptions in the region. Viu’s three to five exclusive Korean dramas per quarter in Q2 to Q4 drove subscriber growth while subtitled, day-and-date variety and reality content continues to provide meaningful competitive differentiation against peers. Local original content efforts and acquired free- to-air (FTA) titles have been impactful in retaining subscribers.”
Janice Lee, CEO of Viu and Managing Director of PCCW Media Group, commented, “An expanded slate of Viu Original content and enhanced distribution partnerships at both local and regional level drove Viu’s new user growth, increased engagement and delivered strong growth in both SVOD and AVOD revenues in 2022. Looking ahead in 2023, while we continue to focus on bringing a great lineup of content offerings to our audience, with most markets returning to its pre-pandemic self, we set out to further connect and engage with our users beyond their screens by bringing the stars closer to their fans across various markets via a series of live events and experiences.”
In 2022, Viu was home to some of the most anticipated titles such as Lee Joon-gi’s Again My Life, Lee Seung Gi’s Law Café and the global phenomenon, Viu Original Reborn Rich. The Song Joong-ki-starred Viu Original was also globally distributed to over 150 countries across Asia, the Middle East, Japan and the Americas. Viu hosted the star in Singapore to engage with the local media and fans from the region. Other events included a Viu road show with the cast of the Indonesian Viu Original Pretty Little Liars (S2) and a Viu watch party for the premiere of yet another Viu Original Again My Life in Singapore. These were part of a series of events Viu hosted in the year in keeping with consumer demand for live events and experiences.
On content consumption trends, the MPA report highlighted how Southeast Asian content share of premium video viewership gained in Q4, driven by increased freemium consumption of local titles across platforms including Viu in Thailand. Indonesian Viu Original Bad Boys Crazy Girls was also named one of the impactful Southeast Asian originals in Q4 in the same report.
The local Viu Original series have not only contributed to viewership but also won several regional awards. Still (Philippines), Ganjil (Malaysia) and Wannabe (Thailand) were all winners at the Asian Academy Creative Awards last year.
Entering into 2023, with continual growth in both MAU as well as paid subscribers, Viu’s strategy is to bring great content and more in-person experiences to fans whilst tapping into the robust growth in premium subscription and digital advertising markets across the region as the industry expands.