According to reports, online video content will rise rapidly in Asia for the next five years. The online video is expected to rise up to 20% of total video industry revenues by 2023, up from 9% in 2017, due to an increase in content spending by 5% per year in the Mainland China market.
The rise of ad-supported and subscription video services from Netflix, Amazon, Facebook, and Google will lead to a combined share of 63% for Asia Pacific online video revenues by the end of 2018.
Interestingly, Netflix and Amazon have also scaled quickly with SVOD offerings in India, Australia, and Japan, but have a long way to go as far as Korea and Southeast Asia is concerned.
Australia and Japan remain as the biggest markets for online video, contributing more than 55% to Asia Pacific revenues ex-China in 2023. The third-largest market, India, is expected to contribute with a 26% average growth over 2018-23.