Southeast Asia’s SVOD category slowed significantly in the first quarter of this year, dropping from 4.6 million net new customer additions in the last three months of 2022 to 0.3 million in the first three months of this year. Even adjusting for the subs-boosting FIFA World Cup, net new adds in Q1 this year maxed out at 1.3 million, according to new research released by Media Partners Asia (MPA).

The report said total Southeast Asia SVOD subscriptions reached 49 million in Q1 vs 48.7 million in Q4.

Viu, Netflix, Disney and Prime Video led new subscriber growth for the quarter, accounting for more than 80% of net new additions across the five Southeast Asia markets covered in the report. 

Indonesia accounted for 43% of the total base, following by Thailand at 30%. 

Thailand and the Philippines showed the most growth while Indonesia declined due to comparison with a FIFA WC-inflated Q4 2022.

In Thailand, AIS Play and True ID lead growth. 

Thailand contributed 40% to net new additions (when adjusted for FIFA WC impact) in SEA, driven by telco authenticated streaming platforms AIS Play and True ID. 

TrueID captured 30% (+9 points Q/Q) of Q1 premium VOD viewership share in Thailand, driven by the Premier League, the report said. 

Indonesia’s Vidio saw subscriber growth weaken after a stellar Q4 with FIFA WC, but growth picked up in April, driven by local dramas and sports, the report said.