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MPA report: Content investment in seven APAC markets grew four per cent in 2023
Mumbai: Media Partners Asia’s (MPA) 2024 Asia Video Content Dynamics report offers a comprehensive analysis of content investment, engagement, and viewership across TV, VOD, and theatrical sectors in seven key APAC markets: India, Korea, Indonesia, Philippines, Singapore, Thailand, and Vietnam.
The report reveals that content investment in these markets reached $15.5 billion in 2023, marking a four per cent year-on-year increase. This growth, while positive, represents a significant slowdown from the 2021-22 period, reflecting a post-COVID normalization of budgets and a rationalisation of local content investment in streaming VOD. India led the charge with a robust 12 per cent growth, driven primarily by sports content, while Indonesia followed with a solid five per cent increase. Korea, the Philippines, and Thailand managed modest gains, whereas Malaysia and Vietnam experienced contractions due to challenging advertising markets.
Korea and India continue to dominate the landscape, collectively accounting for 80 per cent of total content investment in 2023. Korea, a mature market, is expected to see flat overall growth, with expansion in streaming and film offset by TV’s secular decline. In contrast, India, with its relatively low 52 per cent TV household penetration, presents significant growth potential across all verticals through 2028. MPA projects that India will surpass Korea in total content investment by 2026.
Looking ahead, MPA forecasts a 2.7 per cent CAGR in total content investment across the seven markets, reaching $17.2 billion by 2028. This growth will be predominantly driven by India, with Indonesia and the Philippines also expected to show decent growth rates. Korea and Thailand are anticipated to experience limited growth, while Vietnam faces the most challenges due to weak TV advertising and rampant piracy.
The investment landscape is evolving, with TV (free-to-air and pay) still commanding the lion’s share at 64 per cent in 2023, followed by streaming at 26 per cent and film at 10 per cent. By 2028, TV is projected to retain over 50 per cent of industry investment, while streaming is expected to increase its share to 33 per cent, with film marginally growing to 11 per cent.
MPA vice president Stephen Laslocky offered insights on the shifting content dynamics:
“Korean content continues to lead the pack with world-class production values and compelling storytelling, though we’re seeing online original content costs inflate to as much as US$7 million per episode. Its extraordinary appeal is evident, accounting for over 30 per cent of content demand in Southeast Asia and Taiwan. The rise of streaming has significantly elevated storytelling and production quality, particularly in Thailand and Indonesia, where competition is intensifying. We’re seeing content from these countries, especially Thai titles, gaining traction across Asia.
It’s become clear that many traditional TV drama producers are struggling to compete with higher-end streamed video content. In contrast, quality film producers have embraced the flexibility of streaming and adapted with greater ease. Over the past year, as some ad revenues have permanently shifted to digital and streaming behaviour has become entrenched, we’ve observed TV production margins contracting across most markets. For online originals, streamers have become much more disciplined in their approach to budgeting and content strategy.”
The report also highlights significant trends in online video consumption. YouTube leads with over a billion monthly active users across the surveyed markets, with 732 million in India alone. TikTok has emerged as a formidable competitor in Southeast Asia, boasting 211 million total monthly active users across Indonesia, Malaysia, Philippines, and Thailand.
In the premium VOD space, Netflix maintains a strong lead in most markets, capturing between 40-70 per cent of viewership in Korea, Indonesia, Malaysia, and the Philippines. However, it faces stiff competition in Thailand from TrueID and in India from Disney+ Hotstar and Jio Cinema. Local players like Indonesia’s Vidio are also making their mark, while regional platforms such as Viu are leveraging Korean content and strategic partnerships to strengthen their positions.
The theatrical sector is still in recovery mode, with superhero franchise fatigue and Hollywood strikes delaying a return to pre-pandemic levels in most markets. India has already bounced back, with 2023 box office revenues exceeding 2019 figures. Other markets, excluding Korea, are expected to recover over the 2025-28 period. An emerging trend in film distribution sees a shift towards revenue-share models for internationally appealing titles, presenting new opportunities for Korean and Thai producers in particular.
As the APAC content landscape continues to evolve, the interplay between traditional and emerging platforms, coupled with changing consumer behaviours, will shape the industry’s future. The MPA report underscores the dynamic nature of the market and the critical importance of adaptability and strategic investment in driving growth across the region.
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ITC Sunfeast, Zepto host mango-themed experiential ‘Paglu Party’
Event blends Alphonso desserts, DIY sessions and interactive formats
MUMBAI: When mango season peaks, some savour it others go full ‘paglu’. ITC Sunfeast Baked Creations, in collaboration with Zepto, turned summer indulgence into an immersive brand experience with its ‘Mango Paglu Party’, a high-energy, mango-themed event designed to blur the line between dessert and discovery. Built around the brand’s ‘Mad Over Mangoes’ universe, the space leaned into a sensory overload bright, playful and unapologetically mango-drenched. From curated installations to social-first corners, every element was designed to be as shareable as it was experiential.
At the centre of the celebration was the fruit itself, elevated into a menu crafted using fresh, carbide-free Alphonso mangoes sourced by Zepto. The spread ranged from a flaky Mango Pista Kouign Aman to Mango Coconut Serradura Pudding and a Mango Mascarpone Cake, balancing indulgence with seasonal freshness.
But this was not a passive tasting affair. Guests were drawn into the experience through interactive formats, including a DIY dessert session led by the brand’s chef, where attendees created classics like Mango Tres Leches. Zepto chief business officer Chandan Mehndiratta also joined the session, adding a touch of brand personality to the proceedings.
A quirky highlight came in the form of the ‘Aam Paglu Prescription’, a playful, doctor-themed concept that positioned mango indulgence as the only “treatment” worth taking, turning a simple insight into a memorable activation.
The event built up to a theatrical finale, with the crowning of the ‘Aam Paglu of the Day’ followed by the cutting of an oversized mango-shaped Mango Mascarpone Cake, closing the experience on a high note.
More than just a seasonal showcase, the Mango Paglu Party reflects a broader shift in brand storytelling, where products are no longer just consumed, but experienced. For ITC Sunfeast Baked Creations and Zepto, mango season was not just about flavour, it was about creating a moment that audiences could step into, engage with and, quite literally, devour.
