The Asia-Pacific region has reached a pivotal moment in its entertainment landscape, with total content spending soaring to $16 billion in 2025, as streaming platforms officially surpass traditional pay-TV for the first time.
This historic shift, driven by evolving consumer preferences and technological advancements, marks a turning point for the region’s video industry, according to recent industry analyses. While the growth reflects robust demand, it also underscores a complex interplay of market dynamics, with some nations thriving and others facing declines.
Market Breakdown: Leaders and Laggards
South Korea remains the region’s dominant player, commanding $7 billion in content investment with a solid 7.1% growth rate. India follows closely at $6.2 billion, boasting an impressive 19% surge, fueled by its massive population and rising digital adoption. In contrast, Indonesia lags with $855 million, experiencing a 7% drop in spending, signaling challenges in sustaining growth amid economic pressures. Looking ahead, projections suggest content investment will climb to $16.7 billion by 2029, with India narrowing the gap with South Korea, potentially challenging its top spot.
The composition of spending is shifting dramatically. Television’s share is expected to decline from 59% in 2025 to 51% by 2029, reflecting a waning reliance on traditional broadcast models.
Meanwhile, streaming’s portion is set to rise from 31% to 38%, cementing its role as the region’s primary content driver. Theatrical releases are also gaining ground, edging up from 10% to 11%, as cinemas adapt to hybrid viewing trends.
Streaming Giants and Content Trends
Netflix leads the streaming charge, dominating viewership in South Korea, Indonesia, Malaysia, and the Philippines with a commanding 50-80% market share. Its closest rivals include TrueID in Thailand and Vidio in Indonesia, which cater to local tastes and compete fiercely for subscribers.
Content preferences remain consistent, with Korean dramas, Hollywood blockbusters, and sports reigning supreme. In India, cricket continues to hold unparalleled sway, driving both streaming and pay-TV investments, while regional narratives keep audiences engaged across borders.
These trends align with global patterns, where streaming platforms are recalibrating their strategies. After years of lavish spending on original content, companies are adopting a more cautious approach, prioritizing cost efficiency. Advertising is gaining traction as a revenue stream, while artificial intelligence is being leveraged to optimize production and distribution costs, ensuring profitability in a crowded market.
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A Critical Look at the Shift
While the rise of streaming is celebrated as a milestone, it’s worth questioning the narrative of inevitable progress. The 2% dip in overall content spending to $15.8 billion this year, despite the streaming boom, hints at underlying economic fragility — advertising softness and currency fluctuations may be hitting broadcasters harder than reported.
The focus on AI and ad-driven models could also risk alienating viewers who value ad-free experiences, potentially capping long-term growth. Moreover, the heavy reliance on a few markets like Korea and India raises concerns about regional disparities, with smaller nations like Indonesia struggling to keep pace.
This transition isn’t just a technological win — it’s a reflection of cultural and economic realignment. As streaming overtakes pay-TV, the Asia-Pacific region is redefining entertainment, but the sustainability of this shift hinges on balancing innovation with inclusivity. By 2029, the landscape could look very different, depending on how well these giants adapt to the challenges ahead.
