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Subscription-TV: India Has Highest Growth Market In Asia Pacific, Revenues To Reach Rs 11,000 Crore By 2023, Says Report
Analysts at the Media Partners Asia (MPA), say India and China are expected to grow at 8 per cent CARG. (Image @MPAupdates via Twitter)
According to a report published by analysts at the Media Partners Asia (MPA), India and China are expected to drive the pay-TV revenue growth in the Asia Pacific region reports the Television Post. The MPA’s Asia Pacific Pay-TV Distribution report covers 17 markets across the region.
Pay television or subscription television are subscription-based television services, usually provided by both analog and digital cable and satellite television, but also increasingly via digital terrestrial and internet television
The pay-TV revenue in the Indian market will have an 8 per cent Compound Annual Growth Rate (CAGR), and it will reach $16 billion by the year 2023. The report also states India as the highest growth and most scalable pay-TV market in the Asia Pacific.
The APAC pay-TV revenue comprises of subscription fees and local and regional advertising sales. Between 2018 and 2023, the CAGR is expected to expand at a 3 per cent At this rate the revenue will exceed $66 billion by 2023. In the current year, 2018, it is projected to grow 5 per cent in 2018 which will help it reach $56 billion.
According to MPA forecasts, the Chinese market will be the other benefactor alongside India. The pay-TV revenues in China are projected to reach $25 billion, with the growth of 3% CAGR by 2023. During the same time, another regional pay-TV powerhouse, Korea will also grow at 3 per cent CAGR to reach $7.4 billion in revenue by 2023.
Pay-TV revenues in Japan will touch $7.1 billion over the same time-frame, climbing at a 1 per cent CAGR. The report also adds moderate growth in Indonesia and the Philippines. However, nations like Australia, Hong Kong, New Zealand, Malaysia, Singapore, and Thailand will show declines in revenue ranging between -1 per cent to -6 per cent CAGR over 2018-23.
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