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, according to Digital TV Research’s “Asia Pacific OTT TV and Video Forecasts” report.
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. According to the study, much of the growth will go ahead outside China, as the Chinese government’s clampdown on fan-based culture hit reality productions hard, resulting in SVOD subscriber growth deceleration.
Regarding platforms, market leader Tencent Video recently 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.
Overall, Asia Pacific SVOD revenues will reach US$28 billion by 2027, up from $18 billion in 2021. AVOD meanwhile will grow by $8 billion to $19 billion by 2027.
“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,” commented Simon Murray, Principal Analyst at Digital TV Research.