The value of Thailand’s content production sector will continue to drop, reaching US$584 million in 2030 from US$916 million in 2019, MPA says. But there are other things to be optimistic about... 

Thailand ranked as Southeast Asia’s third-largest screen-based entertainment market in 2024, generating just under US$1.4 billion in total revenue (including theatrical), according to data from Media Partners Asia (MPA).

The figures position Thailand well behind Indonesia, the region’s largest market with over US$2 billion in revenue, and marginally below Vietnam, which reached approximately US$1.42 billion.

Thailand remained slightly ahead of Malaysia at US$1.34 billion, and comfortably ahead of the Philippines, which closed the year at US$1.25 billion.

Singapore, despite its significantly smaller population base, delivered US$671 million in 2024, underscoring its continued status as a high-value, high-ARPU presence in the region.

MPA executive director, Vivek Couto, highlighted a material shift in revenue composition between 2020 and 2024, but said too that consumer spend on video recovered to pre-Covid levels in 2024.  

TV revenues — comprising free-to-air advertising, pay-TV subscription fees and advertising — contracted sharply, with their share of the total market falling from 83% in 2020 to 60% in 2024.

In those five years, premium VOD more than doubled its share, rising from 14% in 2020 to 35% by end-2024 as consumer spend and advertiser attention migrated from legacy television platforms to premium streaming services. 

Theatrical revenues also expanded, with the category’s share almost doubling from 3% in 2020 to 5% in 2024, and tracking toward 7% of total sector revenues by 2030, according to MPA.

Couto projects a structural realignment of the market over the next six years, with premium VOD overtaking television as the dominant revenue stream by 2030. 

Premium VOD is forecast to reach 58% of a US$1.5 billion market, while television’s share is expected to decline further to 35%, underscoring the continued shift away from legacy TV platforms toward digital, paid streaming ecosystems.

SVOD household penetration is forecast to rise across all five major Southeast Asian markets — Thailand, Malaysia, Vietnam, Indonesia and the Philippines. Thailand is set to remain the region’s most penetrated SVOD market, reaching 36% in 2025 and climbing to 47% by 2030.  Malaysia follows with 35% in 2025, rising moderately to 39% in 2030. Vietnam is projected to grow from 25% this year to 28% by 2030, while the Philippines will continue to trail, with penetration increasing only marginally from 13% to 15% over the same period.

Despite Thailand’s strong premium SVOD trajectory, the outlook for the country’s content production sector is way less rosy. 

MPA projects a contraction from US$659 million in 2024 to US$584 million in 2030, with television remaining the dominant revenue source and animation gaining share. This reflects a dramatic erosion of value from US$916 million in 2019. Other than a slight bump to US$726 million in 2022, sector valuation has dropped every year since 2019. 

Total OTT content investment in Thailand — spanning local originals and licensed acquisitions — is projected to reach US$195 million in 2025, according to MPA. This represents four consecutive years of streaming investment growth.  

Netflix’s Thai content spend is expected to rise to US$50 million, up from US$46 million in 2024, reinforcing its position as the leading premium SVOD investor in the market.

Netflix and domestic platform TrueID dominate premium OTT consumption, with a combined 48% share of the total 1.3 billion hours streamed in 2024. Netflix took 39% of Thailand’s total US$124 million premium VOD revenue in the third quarter of 2025, leaving TrueID trailing at 15% followed by Viu at 12% and Monomax and AIS Play tied at 7% each. Disney+ was behind those at 6%.

MPA’s Thailand data was part of the presentation for TCCF 2025 in Taipei in November.    

▶ Published in ContentAsia's December 2025 Magazine