A comprehensive trends analysis of Southeast Asian media markets reveals significant digital advertising growth and streaming platform expansion, with Indonesia, Thailand and Vietnam emerging as key territories for content development and format adaptation.
According to K7 Media U.K. analysis presented by the firm’s associate director, operations, Michelle Lin at the Taiwan Creative Content Fest (TCCF), Indonesia stands out as the region’s most promising market, with an 8.5% annual growth rate in entertainment and media revenue. Thailand and Malaysia follow at 4.4%, with Taiwan and the Philippines at 4.1%.
Digital advertising spending in Southeast Asia mirrors global trends, with Singapore, Thailand and Malaysia allocating the largest share of ad budgets to digital platforms, followed by Indonesia and Vietnam. The research indicates that connected TV revenue is expected to double from 2023 to 2028.
In Indonesia, where Disney+ and Netflix each command over 20% of the SVOD market, local platform Vidio leads in subscribers with 4 million users. The market is dominated by four major media groups, with MNC Group’s RCTI maintaining position as the country’s top channel.
Thailand’s media landscape shows Netflix as the most popular streaming service, capturing over one-third of surveyed consumers. TrueID follows at 21%, with Disney+ Hotstar at 13%. The market has seen significant movement in content deals, with Paramount Global recently announcing a partnership with Mono to launch a Paramount+ brand extension.
Vietnam’s television sector remains primarily government-influenced, with VTV operating seven nationwide channels. The streaming market includes multiple local platforms, with FPT Play and Netflix leading paid services. The territory has emerged as Asia’s largest buyer of unscripted formats, particularly favoring Chinese formats from providers like Hunan TV and Shanghai Media Group.
Format adaptation trends vary by territory. While Indonesia acquired nine unscripted formats versus one scripted format in 2023, Thailand secured 10 unscripted and approximately 15 scripted formats, primarily from Korea. Vietnam maintains strong interest in unscripted content, particularly talent shows and game shows.
The research highlights Taiwan’s growing prominence in Asian media, with industry observers positioning it second to Korea in market effectiveness. The territory has garnered recognition for its contemporary film output and institutional support for regional media development. The analysis also reveals SVOD is expected to maintain over 70% of total VOD revenue globally through 2027, though its share may decrease from 76% as AVOD gains momentum, growing at triple the rate of SVOD during the forecast period.
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