Shifting Content Investment Dynamics in Asia-Pacific: Streaming Platforms Surpassing Traditional Pay-TV by 2025
The Asia-Pacific region is set to witness a significant shift in content investment dynamics, with streaming platforms projected to surpass traditional pay-TV as the primary source of content investment by 2025. According to the Asia Video Content Dynamics 2025 report by Media Partners Asia, total content spend is expected to decline by 2% this year to $15.8 billion, with streaming emerging as the leading vertical with an estimated $5 billion in investment, overtaking pay-TV for the first time.
In 2024, video content investment in markets such as India, Indonesia, Korea, Malaysia, the Philippines, Thailand, and Vietnam grew by 9% to $16.1 billion, driven by sports rights and local programming. Korea remained the largest market at $7 billion, followed by India at $6.2 billion. Indonesia saw a 7% decline to $855 million, while Malaysia and the Philippines experienced a 3-4% decrease. Thailand and Vietnam also recorded declines in content investment.
Looking ahead, the report forecasts that content investment will increase to $16.7 billion by 2029, with India closing the gap with Korea. The share of content spend for TV is expected to decrease from 59% in 2025 to 51% in 2029, while streaming is projected to rise from 31% to 38%, and theatrical content is anticipated to edge up from 10% to 11%.
Key industry trends highlighted in the report include declining ad revenues for broadcasters, streaming platforms adjusting their original content strategies, and the increasing use of artificial intelligence to streamline production workflows and enhance ad monetization. The report also emphasizes the importance of local producers leveraging their skills across TV, film, and streaming platforms to drive engagement.
The report points out the varying dynamics across platforms and markets, with traditional TV remaining strong in Thailand and Vietnam, while India continues to have a significant impact through regional-language programming. Korea and the Philippines are facing challenges as audiences shift to streaming, while Indonesia's TV sector remains stable. Streaming consumption has surged in 2025, with India leading in premium VOD viewing hours, followed by Korea, Indonesia, the Philippines, Thailand, and Malaysia.
In terms of theatrical content, India's box office revenue increased to $1.4 billion in 2024, driven by South Indian films. Korea experienced a decline in box office revenue, while Indonesia, the Philippines, and Vietnam saw growth in their respective markets. Local titles played a significant role in capturing box office revenue in these markets.
Stephen Laslocky, VP at MPA, highlighted the resilience of content investment in Asia Pacific, driven by sports rights in India and Korea, as well as investments in premium drama and local storytelling. He emphasized the importance of balancing growth and profitability, adapting to the ad-supported future, and leveraging innovations like AI to enhance content creation and distribution efficiency. The industry's challenge lies in scaling while staying consumer-centric to succeed in the evolving landscape.