Emtek’s Vidio claims to have Indonesia’s streaming crown, but sees heavy losses

What’s the top video-on-demand (VOD) platform in Indonesia? Well, it depends on who you ask and which metrics you use.

In its 2024 outlook report, Grab-backed Vidio, which is owned by local conglomerate Emtek Group and is nearly a unicorn, claims that it’s the cream of the crop.

The report says the firm beat regional and global players – such as Netflix, Viu, Disney+, Amazon Prime Video, and WeTV – and emerged as the number one player across different categories.

According to Vidio, the report used some data from consulting and research firm Media Partners Asia (MPA). This included information on Vidio’s paid subscribers, which reached 4.1 million in 2023, outperforming other players in Indonesia.

However, a recent study by MPA says that Vidio is second to Netflix in terms of premium viewership (the amount of time customers spend on premium offerings) and monetization. MPA data also shows that Vidio captured 21% of Indonesia’s total VOD viewership in 2023.

The study reveals that apart from Indonesia, local firms also hold their own against international players in India and Japan.

According to MPA, Indonesia’s premium VOD segment – which includes subscription services – is valued at US$500 million. This accounts for 38% of the total online video sector’s US$1.3 billion value.

Between 2018 and 2023, the country saw the highest revenue growth for subscription-based VOD platforms, reaching a compound annual growth rate of 72%, although the absolute amount still trails other countries.

This comes amid increased subscriptions to high-speed mobile broadband services, MPA notes.

Moreover, 74% of Indonesians are willing to pay for streaming platforms, whether through personal accounts or shared subscriptions, according to research by data and insights firm Populix.

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Around 65% of locals that are 13 to 24 years of age prefer streaming services over cable offerings due to several factors, including a more diverse range of shows.

In its study, MPA says that 25% of online users in Indonesia had used premium VOD services in the first half of 2023.

All this presents a lucrative opportunity for VOD platforms like Vidio.

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