Netflix and Disney+ Lead as Taiwan Adds SVOD Subscribers in Third Quarter – Study
Subscription video subscriptions in Taiwan increased by 315,000 in the July to September quarter, to reach 5.8 million, according toa new research report. Netflix and Disney+ were responsible for the bulk of the growth.
The “Online Video in Taiwan” report from consultancy Media Partners Asia and its AMPD Research sister company showed premium VOD engagement and subscriptions were up 6% quarter on quarter. Premium VOD accounted for 20% of total time spent by Taiwanese consumers on online video.
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YouTube maintains leadership with 67% of total online video viewership, though its share was down three percentage points as TikTok (12% of viewership) gained traction in the market. In terms of engagement (or time spent) LineTV leads the premium VOD category in Taiwan with an 18% share, ahead of Netflix (15%) and Disney+ (9%). And each grew by 2-4 percentage points quarter on quarter.
Netflix has 21% of paid subscriptions and Disney 17%, for a combined 38% of total subscriptions. The pair accounted for 80% of new subscriptions in the quarter, the report showed. It called them “clear leaders in an otherwise fragmented SVOD landscape where over a dozen other platforms compete with under 10% subscriber market share.”
MyVideo had a 9% share of SVOD subscriptions, FriDay had a 9% share, Hami Video 7% and iQiyi Taiwan 6%. The report also covered companies including KKTV, LiTV, Catchplay+, Gt TV, WeTV and Yahoo TV.
“Taiwan’s strong quarter was led by Disney+’s impactful marketing efforts and hit Korean superhero drama ‘Moving,’ as well as organic subscriber growth from Netflix’s international offering and its measures to reduce account sharing. The two platforms are key contributors to Taiwan’s steady annual subscriber growth of approximately one million, returning strong revenue growth of 25% year-on-year in September 2023. Overall, Asian content categories, particularly Chinese and Korean dramas, dominate demand, capturing 85% of premium VOD viewership in Q3 2023.”
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