According to reports, OTT revenue will grow at an 18% CAGR across the Asia Pacific between 2018 and 2023. The revenue includes net Ad spends and subscription fees.
In the APAC region, China accounts for more than 60% of online video revenue of APAC region and is also set to grow by more than 75% of direct-to-consumer SVoD subs by 2023. As per the forecast, after China, the largest markets by revenue in 2023 will be Japan, Australia, India, Korea, and Taiwan.
A source quoted, “Online video monetization is starting to scale, supported by rising investment in premium entertainment and sports as well as the growth of broadband and digital payments. Strong digital ecosystems are emerging, especially in China while telcos are also becoming important aggregators of video services in markets such as Australia, India and Southeast Asia.”