Media and Entertainment - Industry - Asia Pacific Market, Share and Trends 2023-2028

Summary of Media and Entertainment

The APAC media and entertainment industry was valued at over USD 250 billion in 2021, making it one of the fastest growing regional markets globally. China, India and Japan collectively account for over 60% of regional revenues. Emerging markets across Southeast Asia are also expanding rapidly.

Based upon our estimates, we project that the regional media and entertainment segment in Asia-Pacific is forecasted to grow from $ 792 billion in 2023 to $ 1492.3 billion in 2029 with a CAGR of 10.79 %.

Streaming video has seen explosive adoption in major APAC countries, led by global platforms and local services. Gaming, digital advertising and music are other fast growing segments. The region is transforming with consolidation of traditional media companies and entry of tech giants bringing new distribution models and monetization opportunities.

The APAC media industry is also transforming rapidly which is led by the growth of streaming video across major markets. In China— streaming platforms like iQiyi and Youku have hundreds of millions of subscribers and are investing heavily in original content. India too is witnessing explosive growth in platforms like Disney+ Hotstar, Amazon Prime Video and local services as data costs decline.

Mobile gaming is a huge driver of revenues, especially in China and India where titles like Honor of Kings, PUBG Mobile, Candy Crush see billions of players. Esports is also massively popular as a spectator sport.

Recent Trends and Insights

Streaming subscriptions have grown over 30% annually across major APAC markets like— China, India, Indonesia and South Korea. Mobile gaming drives significant revenues in the region while esports is also growing rapidly both as a spectator and participation sport.

This segment is growing the fastest and now accounts for over 30% of regional ad spend, led by major tech platforms. Paid music is rising rapidly through global and local platforms like Joox, Gaana as incomes rise across emerging Southeast Asian markets.

Short-form video through platforms like— TikTok, Kwai and YouTube are hugely popular for entertainment and digital commerce. Faster networks are enabling new immersive media experiences and content consumption patterns across the region.

Digital advertising is the fastest growing segment across APAC which is led by major tech platforms with localized offerings. This includes social media video platforms which are hugely popular not just for entertainment but digital commerce.

Music streaming is on the rise in Southeast Asian nations as incomes rise and consumers adopt new media habits. Local players like Joox cater better to regional tastes complementing global services.

5G rollouts will further fuel new media experiences through AR/VR and mobile-first content optimized for lower connectivity regions.

Product Insights

Streaming video in APAC is led by global leaders Netflix, Disney+ and Amazon Prime alongside strong domestic players like iQiyi and Youku in China and Hotstar in India. These services have seen huge subscriber growth.

Mobile gaming is a dominant driver of revenues, led by Tencent’s portfolio of titles and other major publishers actively targeting Asian audiences. The region accounts for over half of global gaming spend.

Music streaming is growing rapidly through both global platforms and local services better catering to diverse Asian music tastes, like Joox in Southeast Asia. K-pop and J-pop are hugely popular genres.

Digital advertising in APAC is dominated by tech giants with strong localized presences like Google, Facebook, Baidu and Tencent, capitalizing on the growth of online consumers across the region.

Online video platforms from YouTube to short-form apps like TikTok, Kuaishou and Likee have found immense popularity for entertainment and digital commerce in Asia.

Key Companies

Some major players within this vast domain of industry are

• Alibaba Pictures Group
• EROS International Media Ltd.
• FantaWIld Holding Inc.
• Sony Corporation
• Netflix
• Apple
• Zee Entertainment Enterprises Limited
• Sun TV Network Limited
• Shanghai Media & Entertainment Group (SMEG) 
• DB Corp LTD.

Regional Analysis

China serves as the largest APAC market; all segments see huge revenues led by streaming giants like iQiyi and Youku as well as Tencent’s gaming and social platforms. However— the industry is also transforming amid tightening regulations on platforms and content.

Streaming, digital advertising and music present major opportunities as data costs decline and online consumption rises across the vast population. Hotstar, JioSaavn and Gaana have seen rapid subscriber growth.

With its developed creative industries, Japan maintains strong demand for anime, movies, music and games both domestically and through cultural exports. Streaming platforms are also gaining popularity.

Countries like: Indonesia, Vietnam and the Philippines represent high-growth emerging markets where rising incomes are driving adoption of new media like online video and digital services.

As high-speed Internet has become easily affordable— viewers/audiences that prefer good quality content prefer smart TVs over other television systems. The growing admiration for OTT streaming in audiovisual content is positively impacting the overall media and entertainment market in Asia-Pacific.

Product development and advances implemented by market players have a significant influence on the Asia-Pacific media and entertainment market. By proposing a range of products – they are actively involved in the growth of the media and entertainment market – which is led by strategies like: mergers and acquisitions, partnerships and collaboration, technological progress and so forth.

Market Segmentation

By Type:

• Film & Music
• TV & Video
• Publishing
• Radio
• Video Games

By End User:

• Residential: SVOD, Pay TV, Online Streaming
• Commercial: Digital Signage, Cinema Advertising
• Institutional: Academic Media, Corporate Communications

By Enterprise Size:

• Large Industries
• Small & Medium Industries

By Country:

• China
• India
• Japan
• Indonesia
• South Korea
• Australia

Our Methodology

We have offered a well-founded review of the Asia-Pacific’s regional media and entertainment Industry market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.