Taiwan saw significant premium VOD subscriber and engagement growth in the third quarter of 2023, adding 315,000 net new SVOD subs to reach a total of 5.8 million subscriptions, according to a report by Media Partners Asia.
The report found that premium VOD engagement and subscriptions in Taiwan were up 6% quarter-on-quarter in Q3 2023, with the premium VOD category capturing 20% of total time spent on online video.
In the SVOD space, Netflix with a 21% market share and Disney+ with a 17% market share, were clear leaders in an otherwise fragmented landscape where over a dozen other local platforms compete with under 10% subscriber market share.
Local players include MyVideo and FriDay each with 9% market share, Hami Video with 7% and iQiyi Taiwan, the local arm of the mainland Chinese streamer, with 6%.
However, YouTube maintains leadership of the online video market overall with 67% of total online video viewership, though share was down 3 points as TikTok (12% of viewership) gained traction in the market.
MPA executive director Vivek Couto said: “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 measures to reduce account sharing.
“The two platforms are key contributors to Taiwan’s steady annual subscriber growth of one million, returning strong revenue growth of 25% year-on-year in the first nine months of 2023. Overall, Asian content categories, particularly Chinese and Korean dramas, dominate demand, capturing 85% of premium VOD viewership in Q3 2023.”