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Media Partners Asia’s report revealed online video is set to be the primary driver, contributing a US$24.1 billion increase, while traditional TV revenue is expected to decline by US$8 billion.

The report indicates a +15% quarterly viewership increase in Q3 2023, with Disney+, Netflix, and TVING leading the growth. It also found that Korean SVOD platforms added 716,000 net new subscribers, reaching 19.0 million subscriptions for that quarter.

Taiwan posted strong premium VOD subscriber and engagement growth in the third quarter 2023 to reach 5.8 million paid subscriptions, according to a new report from Media Partners Asia (MPA).

The Southeast Asia region added only 7.000 new net SVOD subscriptions in the first half of 2023, a marked slowdown from more than 7.0 million net new additions in the second half of 2022, according to Media Partners Asia’s latest report.

Netflix’s Asia-Pacific content spend could hit US$1.9 billion in 2023, and revenues in the region are expected to grow 12% year-on-year to US$4 billion, Media Partners Asia (MPA) said in its latest report.