SVOD penetration in Malaysia is set to more than double in the coming years.
According to GlobalData, the household penetration of subscription video services in Malaysia is expected to increase from 12% in 2020 to about 27% in 2025.
The report notes that this will come as a result of rising OTT service platform adoption. SVOD subscriptions in the country are set to increase at a CAGR of 20% over the forecast period.
In addition to the acceleration of cord-cutting, competitive pricing strategies and investment in local content will also accelerate SVOD growth in the country.
A deciding factor is also the increasing availability of broadband services in Malaysia as a part of the government’s National Digital Network (JENDELA) initiative and Telekom Malaysia’s High-Speed Broadband (HSBB) project for fibre network expansion.
Kantipudi Pradeepthi, Telecom Analyst at GlobalData, said: “Netflix held the largest share of Malaysia’s total SVOD subscriptions as of 2020 and will continue to do so through the forecast period. Heavy investments in high quality regional content, and affordable mobile-only plans offered at US$4 per month will help the company maintain its leadership in the market.
“To appeal to the larger Malay demographic, it is necessary for foreign players to have local partners. For instance, in June 2021, Netflix inked a partnership with pay-TV operator Astro to be hosted on the latter’s platform, complementing its lack of vernacular content.”
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