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Online Video revenues in Asia Pacific to double by hitting $52 billion in 2024: Media Partners Asia

by Editorial
April 23, 2019
in Exclusive, Featured, Market Analysis
2 min read
Asia Pacific Online Video market to generate $50 Bn Revenue by 2024: MPA report
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According to Media Partners Asia (MPA) revenues from online video subscriptions and advertising across the Asia Pacific will double to hit $52 billion in 2024 from the $26 billion forecast for this year.The findings were released on the eve of MPA’s tenth annual APOS Summit, kicking off in Bali, Indonesia on 23rd April 2019.

Online video revenues are expected to account for 33 percent of all video revenues in AsiaPac in 2024, up from 18 percent this year. China accounts for a large chunk of the region’s online video revenues; excluding this market, revenues will grow from $10 billion this year to $21 billion in 2024, a 25-percent share of overall video revenues.

AsiaPac video industry revenues will reach $154 billion in 2024, a 4.5 percent compound annual growth rate (CAGR) from this year. Excluding China, the total will be $84 billion at a 3.7 percent CAGR.

Advertising’s contribution to overall revenues will slip from 55 percent to 53 percent, while subscription revenues will account for 47 percent, up from 45 percent, driven by market changes in China. Excluding China, the ad to subscription breakdown will remain at about 56 percent to 44 percent.

The research, which will be presented in full at APOS on April 24, covers 16 markets, tallying consumer and advertiser spend, content costs and market share across key clusters.

Vivek Couto

Vivek Couto

Vivek Couto, MPA’s executive director, commented, “China remains at the forefront in online video scalability and innovation, although monetization models are starting to scale in other major markets. The growth of broadband connectivity and digital video platforms is driving new economic value for content creators, aggregators and sports-rights owners at a global and local level, helping seed digital ecosystems. That said, piracy and unpredictable regulation present key impediments to progress. Meanwhile, a still lucrative legacy-TV industry continues on a low-growth trajectory in many markets, although under increasing pressure. In certain markets, the value erosion across legacy TV is unlikely to be replaced over the medium term but digital video monetization will grow and margins will recover as costs recalibrate.”

China’s video business is expected to generate $70 billion in revenues in 2024, with online’s share rising from 29 percent to 44 percent.

In Japan, the online video sector is increasing 10 percent a year, with its share of the overall $28 billion revenue base rising to 22 percent in 2024.

The fastest growth in video revenues will be seen in India, as the video market is set for an 8% CAGR from 2019, the fastest growth in the region, propelling advertising and subscription revenues to almost US$20 billion by 2024. The TV will still enjoy a robust 6% CAGR over that time although online video will rocket forward with an explosive 22% CAGR. Online video will account for 16% of video revenue in India by 2024, up from 9% in 2019

Southeast Asia will see video revenues reach $11 billion, about 65 percent of which will come from Indonesia, Thailand and Vietnam. The video market in Australia and New Zealand will also be worth $11 billion in 2024, more than half of which will come from online video.

MPA also forecasts a 3 percent CAGR in content investments to reach $73 billion in 2024, up from $64 billion this year. Online video content investments will grow at a 10 percent CAGR to reach $33 billion; $27 billion of that number will come from China alone, followed by $1.7 billion from Japan and $1.4 billion from India.

Tags: Media Partners AsiaOnline Video revenues in Asia PacificVivek Couto

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