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Consumer spending on video grew 9% in APAC in 2020

It’s set to grow six per cent CAGR over 2020-25, says Media Partners Asia report.

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New Delhi: Consumer spending on video in the Asia Pacific (APAC) region grew nine per cent in 2020 to reach $58.3 billion in aggregate, according to a new analysis and research released by Media Partners Asia.

The report projects growth to rise a further six per cent CAGR to $79.3 billion, led by the fast-expanding online SVoD sector. MPA forecasts that the online SVoD consumer spending revenue is likely to grow at 15 per cent CAGR over 2020-25 to reach $31.6 billion by 2025. This will represent a 40 per cent market share while consumer spends on pay-TV will grow at two per cent CAGR to reach $47.8 billion, representing a 60 per cent market share.

The findings were released on the first day of MPA’s APOS Summit which was held virtually this year.

All the markets increased spending on SVoD services with strong activity in peak pandemic periods during the first half of 2020, and robust spending in the second half of 2020 due to new launches from major players.

China remains the largest market in APAC for consumer spending on video with $27.6 billion in revenue, led by SVoD and IPTV services. Japan comes in second with $9.2 billion with SVoD representing more than a third of consumer spend, while India is third with $6.5 billion with pay-TV contributing having greater than 90 per cent market share, it stated.

Korea with $5.7 billion in revenue in 2020 and Australia with $2.9 billion remain formidable markets; Malaysia led southeast Asia with $962 million in revenue with pay-TV contributing more than 90 per cent of market share.

“Consumer spending on entertainment and sports through video platforms was robust in 2020 due to growth of SVoD in a peak pandemic year along with new competition and consumer choice in many Asian markets,” said MPA executive director Vivek Couto. “

While SVoD growth will decelerate in 2021, MPA sees "a bright future for the SVoD sector and the stacking of various services across sports, entertainment and deeply integrated local services.”

According to Couto, China, Japan, India, and Korea will lead the way as the market for SVoD slowly deepens in the key markets across southeast Asia, led by Indonesia, the Philippines, and Thailand. Pay-TV will remain vital in Korea (led by IPTV), India, Malaysia, and the Philippines, he added.

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