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TV & Video - Asia

Asia

In Asia, revenue in the TV & Video market market is projected to reach €183.40bn in 2024.
Revenue in this region is expected to show an annual growth rate (CAGR 2024-2029) of 4.50%, resulting in a projected market volume of €228.60bn by 2029.
The largest market within this market is OTT Video, which is anticipated to have a market volume of €97.18bn in 2024.
In global comparison, the most revenue will be generated the United States, which is expected to reach €259.90bn in 2024.
In Asia's TV & Video market market, the number of users is expected to amount to 4.0bn users by 2029.
User penetration in the TV & Video market market in Asia is expected to be at 81.5% in 2024.
The average revenue per user (ARPU) in this region is projected to amount to €49.54 in 2024.
In Asia, particularly in Japan, the TV & Video market is increasingly dominated by streaming platforms as traditional broadcasting faces significant challenges.

Key regions: China, South Korea, Asia, France, United Kingdom

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Analyst Opinion

The TV & Video market in Asia is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the TV & Video market in Asia are shifting towards on-demand streaming services and digital platforms. With the increasing availability of high-speed internet and the proliferation of smartphones and smart TVs, consumers are seeking convenience and flexibility in their viewing habits. They prefer to watch their favorite shows and movies on their own schedule, rather than adhering to traditional broadcast schedules. This shift in customer preferences has led to the rise of streaming platforms such as Netflix, Amazon Prime Video, and local players like Hotstar and iQiyi, which offer a wide range of content options and personalized recommendations. Trends in the market indicate a growing demand for local and regional content in Asia. While international TV shows and movies continue to be popular, there is a strong desire among Asian consumers to see stories and characters that reflect their own culture and experiences. This has resulted in the production and distribution of more local content, including dramas, reality shows, and documentaries. Streaming platforms are investing in original Asian content to cater to this demand and attract a larger audience. Local special circumstances also play a significant role in the development of the TV & Video market in Asia. For example, in countries like India and China, where traditional cable and satellite TV penetration is low, streaming platforms have emerged as the primary mode of entertainment. These platforms offer affordable subscription plans and a vast library of content, making them accessible to a wide range of consumers. Additionally, the diverse linguistic and cultural landscape of Asia presents unique challenges and opportunities for content creators and distributors. Localization and customization of content are crucial to cater to different markets and ensure a personalized viewing experience. Underlying macroeconomic factors contribute to the growth of the TV & Video market in Asia. Rising disposable incomes, urbanization, and increasing internet penetration are driving the adoption of digital entertainment services. As more households gain access to affordable internet connections and smart devices, the potential customer base for streaming platforms expands. Furthermore, the proliferation of 4G and upcoming 5G networks provides faster and more reliable internet connectivity, enabling seamless streaming and high-quality video playback. In conclusion, the TV & Video market in Asia is evolving rapidly, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Streaming services and digital platforms are gaining popularity, local content is on the rise, and the accessibility of affordable internet and smart devices is expanding the market. As the market continues to develop, it is crucial for industry players to understand and adapt to these trends and circumstances to stay competitive and meet the evolving needs of Asian consumers.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.

Modeling approach / Segment size:

The segment size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant segment. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.