JustWatch Report: Netflix Dominates Indonesia's Streaming Video Market Share Throughout 2023

Netflix is ​​the market leader video streaming in Indonesia in the 4th quarter of 2023 according to the latest report released by JustWatch. This OTT from the United States has stable market share control for three consecutive quarters (Q2-Q4) throughout 2023, with figures of 23%, 24%, 24%.

Following Netflix, it is occupied by Disney+ Hotsar which is growing steadily in second place, almost three times bigger than Prime Video. Its market share is only 2% different from Netflix, namely 22% in Q4 2023. JustWatch also recorded positive growth from Iflix and Viu. Respectively 16% and 12%.

The only local OTT, Vidio is in 5th place for market share throughout 2023. In Q4 alone, Vidio has a market share of 11%. This figure only rose 1% from the previous three quarters which was stable at 10%.

Paid users

Apart from JustWatch, previously other reports published by Media Partner Asia (MPA) Media Partners Asia (MPA) revealed, Vidio has 4 million paying subscribers, aka the most in Indonesia throughout 2023. Viu follows in the next position with more than 3,5 million subscribers.

The next position is filled by Disney+ Hotstar, the number of subscribers is slightly different from Viu. Lastly, Netflix has more than 2 million paid subscribers.

It is estimated that video content in Asia Pacific will reach revenues of $145 billion in 2023 and is expected to continue to grow to $165 billion in 2028. The industry continues to experience a significant shift from TV to online platforms in terms of consumption, engagement and monetization.

One business that is driven by this trend is SVOD (subscription video on-demand).

“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.