Asia Pacific’s OTT TV and film revenues is forecasted to reach $49 billion in 2029, according to Digital TV Research’s latest report.
The media research reported despite China, the world’s second largest market, maturing rapidly and India experiencing SVOD shake-up, OTT TV and film revenues will grow by $15 billion from the $34 billion recorded in 2023.
The media research firm’s findings revealed China will account for 39% of the region’s total revenues by 2029, down from 47% in 2023 as other countries grow faster. Digital TV Research said China is reaching SVOD maturity, with a poor AVOD sector at present, while India’s SVOD was disrupted by Indian Premier League cricket converting to AVOD in 2023.
Asia Pacific’s SVOD revenues overtook AVOD revenues in 2019, though it is expected to recover revenues will remain lower than SVOD. SVOD and AVOD revenues will rise by $4 billion and $9 billion respectively between 2023 and 2029.
The big six US-based platforms will account for only 18% of the region’s OTT revenues by 2029, which marks the lowest proportion for any region.
Simon Murray, principal analyst at Digital TV Research, said: “Disney now appears less keen on expanding Hotstar to the region’s developing markets as it is classified as “non-core”. Warner Bros Discovery is yet to announce international plans for Max. Paramount’s Asian rollout will be very limited.” Digital TV Europe