China remains the strongest driver for SVOD subscriptions in Asia-Pacific region, despite the looming recession as a result of the coronavirus pandemic.
According to Digital TV Research – an agency specialising in providing cutting-edge business intelligence for the television industry, Asia-Pacific SVOD subscriptions will increase to 417 million by 2025, and China will capture 64.5% of the region’s total growth.
iQiyi, Tencent and Youku Tudou are the top three companies leading the SVOD growth in China, while Netflix and Amazon will come in fourth and fifth positions respectively.
Simon Murray, principal analyst at Digital TV Research, noted: “China will also dominate the SVOD revenue rankings.
“The top five platforms – Tencent Video, Iqiyi, Netflix, Disney+ and Youku Tudou – will account for two-thirds of the region’s SVOD revenues by 2025.”
Murray continued: “Asia-Pacific SVOD revenues will reach $18.25 billion in 2025; up by $8 billion in 2019.”