Reshaped by streaming, COVID and evolving demographics, the Asian media landscape has evolved to become distinctly different from those in North America and Europe.

“Asia has never been more exciting. However, it has also never been more distinct from the rest of the world, as billions of consumers embark on their own unique journeys,” remarked Vivek Couto , managing partner of consultancy firm Media Partners Asia and a key figure behind the APOS media convention currently underway in Indonesia.

Asia itself is very far from homogenous. Population trends, economic growth and per capita incomes are shaping the different monetization models and growth rates within the video industry across Asian markets. In traditionally high subscription markets, there’s a push to introduce ad-supported tiers for deeper penetration. Conversely, low per capita but rapidly growing economies, driven by young demographics, are expanding premium total addressable markets, increasingly monetizing through subscriptions and premium advertising on emerging mediums like CTV and retail media.

“Some U.S. executives struggle to grasp that the region has become distinct and unique. India, with a population three times larger than the U.S., is rapidly evolving under its own rules. China, despite its vast size, is at a different stage of development, presenting a unique landscape. The days when Southeast Asian pay-TV operated under similar rules to those in the west are long gone,” Couto shared with Variety .

”And then, there’s the influence of U.S. content. Across the region, Korean, Japanese, and increasingly, Chinese content is highly popular. While U.S. shows still hold prestige, local content, including sports, is growing in importance throughout Asia.”

“Asia is a unique market. We don’t design our programming for global distribution,” Monika Shergill, Netflix’s head of content for India, told Variety at a recent conference. India, with its streaming audience exceeding the entire U.S. population, is a market in its own right.

While many international media conglomerates have established a presence in Asia and achieved success, they have often had to adapt their business models to local conditions.

YouTube dominates UGC and social video and leads video monetization in the region, securing top and second spots in most key markets at a 12-19% share. Meta has strong presence in the region, with 8-12% share in Australia, India, and Indonesia, MPA says.

Netflix stands among the leading players in Australia, Korea, and Indonesia. However, achieving success in these markets necessitates substantial investment in local content, particularly in India, Japan, and Korea. Moreover, in emerging economies, notably those with limited credit card usage, local telecommunication companies provide flexible payment options, enabling access to even the lowest socioeconomic segments.

“Korean dramas, spanning different genres, as well as certain unscripted and variety programs, are distributed throughout Southeast Asia through platforms such as Netflix and Viu, capturing over 70% of local viewership. In 2024, dramas like ‘Lovely Runner’ and ‘Queen of Tears’ topped the region’s viewership charts. Japanese content is another prominent Asian category with high international appeal, driven by anime,” stated MPA.

And Asia is a test case for retail media — potentially capturing 30% to 70% of incremental digital advertising spending in key Asian markets – with the segment led by China’s e-commerce leaders Alibaba, JD, and Pinduoduo, Indonesia, where the movement is led by Shopee, Tokopedia, Bukalapak and Lazada, and Korea, spearheaded by local player Coupang. YouTube and Meta are expected to enter this category by 2025, Media Partners Asia adds.

Despite significant advancements across various sectors, Asia continues to be one of the few continents where traditional linear television is projected to remain a profitable business in key mass markets for a considerable time to come.