Content and consumer focus key for growth, sustainability in Asia | Major Businesses | Business | News | Rapid TV News
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The Asia Video Summit has observed that amid a time of immense innovation and disruption, in a market described as being huge but diverse and difficult, a return to profitability and a focus on revenue is much needed for sustained growth.
AVIA 9Nov2022
The annual marquee event of the Asian video industry, the summit opened with clear views from industry stalwarts, Henry Tan, Group CEO, Astro, Clement Schwebig, chairman, Asia Video Industry Association (AVIA), and Vivek Couto, executive director, Media Partners Asia. The latter also noted that despite having to address such diversity and difficulties in the huge market, there was no doubt certain markets will continue to grow. However, Tan warned that disruption was going to continue for the next few years, added, and all players had to be prepared for a “rollercoaster ride.”

Noting the massive changes that the industry had gone through over the last decade, James Gibbons, president & managing director, Western Pacific, Warner Bros. Discovery said that while there used to be a real emphasis on subscriber growth, and the belief that the market for subscription video-on-demand was infinite, a business without an advertising component was no longer meaningful. A wholesale reassessment of how to assess the growth and value of a company was now needed, he added. Content, it was stressed, was no longer an individual line of business, but represented an entire franchise opportunity that enabled businesses to build a special relationship with their consumers across all touchpoints.

For Donovan Chan, founding partner, Beach House Pictures, sticking to premium programming that was efficiently produced at a high quality to deliver on what audiences wanted and needed was a key part of his strategy to move more content from East to West. Kirana Cheewachuen, deputy director, planning & business development, strategic content group, True Corporation, also added that with Korea leading in script development, there was also a need to attract and develop the right talent in order to discover the secret sauce behind the success of Korean content, and hopefully replicate it in other parts of Asia.

Yet while there was consensus that content was king, it was not an 'either or' situation, it needed to be across content, activation, distribution, and pricing, cautioned Manish Kalra, chief business officer, ZEE5 India.
Ricky Ow, partner, Quest Ventures, argues that as for bundling it was not 'one size fits all' and that there was a need to meet personal consumer demand and at a price point that made sense. There was also the need to solve this problem as a benefit to consumers as well as content providers, for less churn and more sustainability.

The summit also stressed that there was “enormous” opportunity for growth in the OTT advertising space, which was currently under-indexed in Asia. While OTT was the natural evolution of TV, Elaine Tan, head of sales, Southeast Asia, International Business Department - Advertising, iQIYI International, felt that OTT was not quite mainstream as yet and there was still a lot of room to grow in the premium space especially with premium Asian content. "If we bring the content that users want, the growth will follow," Tan said, with the advertising dollars following suit as well after.