The use of the internet to consume entertainment is growing throughout Southeast Asia – especially in countries like Vietnam where almost everyone seems to have a smartphone in their pocket. “Video-on-Demand” (VOD) services provide consumers with on-demand access to curated films and TV series on demand and across a variety of devices.
In recent years, a host of video streaming services have emerged in Asia, including local players like Thailand-based Doonee, India-based Hotstar, Malaysia-based iflix and Singapore-based HOOQ, as well as global ones like Netflix and Amazon Prime Video. VOD services are expected to have over 400 million paying subscribers across Asia by 2022. In its October 2018 white paper entitled “Asia-On-Demand: The Growth of VOD Investment in Local Entertainment Industries,” research firm AlphaBeta Advisors estimates that, driven by strong demand for high-quality local content, VOD services will invest up to US$10.1 billion in Asia by 2022, growing 3.7x from the amount spent in 2017.
The benefits of VOD services to consumers are clear. These include being able to watch a large variety of curated content whenever and wherever they want, and being able to use safety features such as PIN codes that prevent children from watching inappropriate content. Content is also key as consumers choose – and are loyal to services – which provide them with high-quality original content. Drawing on survey data from five Asian markets, this new research indicates a strong preference for both local and foreign content. In response to consumer preferences, investments in original content in Asia growing rapidly. This growth is having a significant impact on each part of the content production value chain, which touches each economy in Southeast Asia, including Vietnam.
In addition to exploring the economic impact of this growth in VOD content investments, the “Asia-On-Demand” research shares observations about the societal benefits of VOD including a reduction of incentives for online piracy, a greater emphasis on cultural diversity (with lots of great local, regional, and foreign content), and more options for consumers and their families.
AmCham invites you to Lunch n’ Learn with us on March 15 as Dr. Konstantin Matthies of AlphaBeta Advisors in Singapore, shares the latest research on the development of the VOD industry in Asia and why a thoughtful policy approach is essential to ensuring that countries benefit from the opportunities presented by the growth of VOD services in Asia.
About the guest speaker:
Dr. Konstantin Matthies is a Microeconomics Expert and Engagement Manager with AlphaBeta’s Singapore office, working on disruptive technologies, digital economies, digital financial inclusion and smart and sustainable urbanization. Konstantin also heads AlphaBeta’s Data IP on sub-regional economic activity and forecasting in ASEAN. Konstantin previously worked with the International Institute for Strategic Studies on economic development of energy markets and energy policy in Asia. He holds a PhD and MPhil from the University of Cambridge as well as a BSc from UCL. AlphaBeta is a strategy advisory business serving clients across Asia from offices in Singapore and Sydney.
EVENT: The Future of Video on Demand Services in Vietnam
DATE: Friday, March 15
TIME: 11:30am – 1:30pm
PLACE: InterContinental Hanoi Westlake, 5 Tu Hoa, Tay Ho
COST: VND 650,000 (members); VND 900,000 (non-members)
Don’t miss this opportunity to hear about the potential value of the VOD industry for Vietnam and best practices around capturing that potential value while you enjoy a great lunch and meet some new contacts. Please register your participation in this event by clicking on the button below or by calling the AmCham office (84) 24.3934.2790.