Patrick Frater Asia Bureau ChiefThe Asia-Pacific region is now the largest contributor to growth of the global online video industry, a major new study published Monday finds.With the U.S.
and Europe fast maturing and China inaccessible, APAC’s large markets – India, Indonesia, Japan, Korea and Thailand – will be increasingly important to global platforms, said consultancy and research firm Media Partners Asia in its report “Asia Pacific Online Video & Broadband Distribution 2022.”The report, which covers the AVOD and SVOD sectors and spans China, India, Australasia, Southeast Asia as well as South Korea and Japan, shows the overall industry on course to grow by 16% in the current year to $49.2 billion.
SVOD will contribute 50%; user-generated content-driven ad-supported VOD 37%; and premium AVOD, 13%. The industry is to grow at an 8% compound average growth rate to reach $72.7 billion in 2027, with the mix of SVOD and AVOD little changed.China’s Bytedance, operator of Douyin and Tiktok, has the largest video revenue in the region with a 2022 figure close to $7 billion.
Indeed, China has three companies in the top five by revenue. MPA ranks the five largest as: Bytedance, YouTube, Tencent Video, Netflix and iQiyi.“YouTube and Meta are being challenged by ByteDance.
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