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JustWatch Reports Indonesia’s Streaming and SVOD Market Share in Q4 2023

Netflix tops as the most-watched streaming service in Indonesia, but Vidio prevails in the number of paid subscribers.

Global streaming guide JustWatch has recently released a report on the market shares of streaming services and subscription video-on-demand (SVOD) in the fourth and final quarter of the year 2023. The report, first published in February 2024, summarised that Netflix dominated the SVOD market shares in Indonesia for not only the fourth and final quarter of the year 2023 but also the whole year.

JustWatch detailed that Netflix enjoyed stable growth in market share from the second quarter to the fourth quarter of the year, the share figures being 23 percent, 24 percent, and 24 percent in each quarter. Disney+ Hotstar followed suit, its difference from Netflix in market share by the end of 2023 being only as narrow as 2 percent. The streaming service iFlix occupied the third place with 16 percent of the market share by the end of the year.

Vidio was recorded as the only local streaming service that cracked the top five of the most domineering streaming services and SVOD in Indonesia with a market share of 11 percent. However, Vidio only enjoyed one percent of the growth in market share compared to its number back in the third quarter of 2023. Amazon Prime Video, despite its reputable status overseas and high-profile Indonesian projects such as the gritty drama Berbalas Kejam, lagged behind Vidio with a market share below 10 percent.

Regardless of Netflix’s domination in the Indonesian SVOD market, the same result was nowhere to be seen when it comes to growth in paid subscribers. According to a report by Singapore-based consulting service Media Partners Asia that was published in March 2024, Vidio triumphed as the streaming service with the most paid subscribers, the number being as high as 4 million subscribers. Viu, a Hong Kong-based over-the-top (OTT) video streaming provider, came in second with 3.5 million subscribers.

Netflix, meanwhile, only managed to collect half of Vidio’s paid subscribers by the end of 2023 with 2 million subscribers.

Both reports by JustWatch and Media Partners Asia further predicted that the streaming services and SVOD industry will continue to experience a significant shift in the year 2024 all the way until the year 2028 — from TV to online platforms and also, in terms of consumption, engagement, and monetisation. The reports also concluded that content relating to sports and Korean productions (i.e. K-drama) remains the most attractive appeal for potential subscribers.

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