MPA Report: Vidio Has More Than 4 Million Paid Subscribers, Becoming the Best Selling in Indonesia

Media Partner Asia (MPA)'s latest report is entitled "Asia Pacific Video & Broadband Industry 2024" highlighted that the video content industry in Asia Pacific has reached $145 billion in revenue this year and is expected to continue growing to $165 billion by 2028. The video industry continues to experience a significant shift from TV to platforms online in terms of consumption, engagement and monetization.

One business that is driven by this trend is SVOD (Subscription Video On-Demand). From the same report, as of the end of 2023, a number of SVOD providers operating in Indonesia have received millions of paying customers. According to MPA, currently Vidio has the largest number of premium subscribers in Indonesia, exceeding 4 million users, followed by Viu, Disney+ Hotstar, and Netflix.

“After weakening in Q2 2023, the Indonesian SVOD market has recovered with more sustainable demand thanks to sports, local and Korean content. "Sports and local content remains the main engine for Vidio which has led category growth in Q4 2023 and is expected to grow rapidly in 2024 with the overall category expected to add 1,3 - 1,4 million new subscribers in 2024," said Media Partners Asia CEO Vivek Couto.

Previously, the MPA also released a report in the middle of this year, indicating that there was drastic decline in SVOD subscribers caused by short video platforms like TikTok. Southeast Asia only added 7.000 new SVOD subscribers in the first half of 2023. This figure is down compared to the same period in the previous year of 3,7 million subscribers, while compared to the second half of 2022, the decline is much sharper at 7 million new subscribers.

Vidio value proposition

This Vidio achievement sets a good precedent, because it is the only platform developed by local business actors (EMTEK group) that is able to compete in the ranks of ranking top with regional and global players. MPA data also validates that Vidio is the only local OTT platform that breaks the dominance of global players by numbers subscriber largest in all Asian countries (outside China).

"Vidio's success in being able to defeat global and regional OTT dominance as OTT with subscriber "The largest number in Indonesia, is proof that the Indonesian nation is able to compete with world-class players, with technology built domestically and the ability to present a variety of content that suits the tastes of the Indonesian people," said Vidio CEO Sutanto Hartono.

According to a statement submitted to DailySocial.id, Currently, Vidio's customer demographics are quite balanced. The power of sports content is dominated by male users, while drama series content is dominated by female audiences. Throughout 2023, Vidio will produce 21 titles originalseries, being the largest among all OTT players in Indonesia.

The combined audience of the film series Open BO, Betting The Series Season 2, and Knitting Revenge  has been watched in total more than 43 million times.

"Vidio is committed to becoming an OTT platform that allocates the largest investment in developing local content as the backbone of Vidio's future growth, and this local content is an incentive for customers to continue coming to the Vidio platform. We hope this commitment can help support the growth of the Indonesian content industry so that there is a when it will be able to penetrate the international market," added Sutanto.

Previously, at the beginning of this year, Vidio's position was lagging behind several of its rivals. Quote JustWatch reports, in Q1 2023 marketshare The local SVOD market is led by Netflix and Disney+ Hotstar with 22% each. Meanwhile Vidio only has 10%, below iflix+WeTV (16%), and Viu (12%). In general, the JustWatch report shows the service landscape streaming, examining the market presence, content, and user engagement of various SVOD providers.

Strategy to maintain market share

The OTT industry still has great potential for development. According to MPA, total paid OTT subscribers as of Q3 2023 in Indonesia reached 21 million people, while in Southeast Asia there were 48 people. With paid OTT penetration still below 10% of the population, the local market is still very promising to continue to explore. Vidio has also planned a number of strategies to maintain growth in 2024.

It was stated that there are two main strategies that Vidio will continue to promote in order to produce a strong value proposition in the industry, namely as follows:

• Maintain positioning "home of local originals" as OTT in Indonesia which released originalseries most local.
• Maintain positioning “home of sports" by continuing to present the best sporting matches; both local and international.

In 2023, various leading sporting events live also broadcast by Vidio. Start local matches such as: BRI Liga 1, Proliga, and Livoli; to international events such as the Premier League, NBA, UEFA Champions League, Serie A, La Liga, Olympics, FIFA World Cup Qatar 2022, and FIFA U-17 World Cup.

The company also continues to explore strategic collaborations with its  partners, incl Grab and Sinarmas, which recently joined the round funding worth IDR 633 billion. One of the ongoing collaborations is in the form of a package bundling Videos available on the service Grab + OVO and Sinarmas group network (Smartfren, MyRepublic, and Dana).