India and Australia leaders in video growth in APAC region

India and Australia are now in the top three of the region's video producing countries, and are well poised for growth.

Creative collaborations and exchanges between the two countries can contribute to this future growth, according to the Australia India Chamber of Commerce.

According to a report by Media Partners Asia (MPA), India's video industry revenues surged to US$ 13 billion, surpassing Korea and Australia but trailing behind China and Japan in the Asia-Pacific region. The forecast suggests a growth of US$ 17 billion by 2028.

In 2023, the APAC video sector witnessed a 5.5% growth, reaching US$ 145 billion. Online video sales experienced a notable 13% increase, amounting to US$ 57 billion. In comparison,

TV revenues showed modest growth at less than 1%, totalling US$ 98 billion, according to MPA – a prominent provider of advisory, consulting, and research services in the media and telecoms sector across Asia Pacific.

Specifically, subscription video-on-demand (SVoD) saw a 15% growth, reaching US$ 28 billion in 2023, or US $ 12 billion, excluding China.

Advertising video-on-demand (AVoD) expanded by 11%, totaling US$ 29 billion, or US$ 17 billion excluding China, with user-generated content and social video dominating the AVoD category at an 80% share. In comparison, premium AVoD accounted for a 20% share in 2023, as highlighted in the report.

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