Asia to spend $15.1 billion on video in 2026 as streaming passes TV in India
Seven Asian markets will spend $15.1 billion on video content in 2026.
That is the projection in Media Partners Asia's 'Asia Video Content Dynamics 2026' report, published on 24 September 2026. The figure covers television, online video and film across India, Indonesia, Korea, Malaysia, the Philippines, Thailand and Vietnam, according to Variety.
Growth is slow. MPA put 2025 spending across the same seven markets at $14.8 billion. It sees only $15.4 billion by 2031.
Television still takes the largest share. It accounts for about 60% of total spending, against 30% for online video and 10% for film. TV budgets are shrinking in several markets in 2026, even as streaming and local cinema lift the total.
Two countries dominate the ledger. Korea invested $6.9 billion in content in 2025. India invested $5 billion. Together they made up roughly 80% of spending across the seven markets.
India has tipped. Online video took 46% of content investment there in 2025, edging past TV at 42% to lead for the first time. Indian viewers logged 420 billion hours of online video over the year.
JioHotstar sits at the centre of that shift. It holds a 58% share of premium VOD viewing in India, meaning paid streaming of films and series, and has more than 180 million paying subscribers. Its reach on connected TVs, meaning television sets that stream over the internet, rose 26% during the 2026 Indian Premier League.
In Korea, Netflix leads streaming and local player TVING ranks second. Exclusive coverage of KBO baseball grew TVING from 5.3 million to 6.5 million subscribers. The gains come with pressure. Drama production margins in Korea have been compressed to between 5% and 10%, leaving little room for producers and crews.
Indonesia has its own local leader. Vidio leads its home market with more than 6 million paying subscribers. It has been EBITDA-positive since the fourth quarter of 2025, meaning its core business earns more than it spends before interest, tax and other charges.
Live sport is pulling new viewers to paid streaming. The FIFA World Cup lifted premium VOD viewing in Vietnam by 22%. In Southeast Asia more broadly, the premium streaming market added more than 1.5 million new subscribers in the second quarter of 2025, according to Media Partners Asia.
Local films are doing heavy work too. Vietnam's box office grew 20% to $213 million in 2025, with homegrown titles taking 69% of receipts. Indonesia's box office rose 10.5% to $325 million, with 60% from local films. India set a box office record of $1.41 billion.
Not every line points up. Thai TV advertising dropped 18% to $422 million in 2025. MPA described the wider Asia Pacific market as entering a recalibration after strong growth in 2024, as companies balance growth and profitability, according to Media Partners Asia.
What makes this stand out is where the money lands. A commission keeps writers' rooms open and crews of up to 200 in work. A cut or a cancellation ends that work, and leaves a story unfinished.
For viewers, this means more local stories on streaming and in cinemas, and tighter budgets on traditional TV. MPA is tracking the shift on MPA Edge, its new intelligence platform for market sizing, user behaviour, revenues and investment flows.
