Netflix competitor Viu taps Southeast Asia for growth

Viu Original series River Where The Moon Rises / Photo credit: Viu

Viu, a Hong Kong-based video streaming operator, says it’s benefiting from a growth in subscribers across Southeast Asia.

The firm was cited as one of the top three video streaming platforms in Indonesia, Singapore, Thailand, Malaysia, and the Philippines, in aggregate, according to Media Asia Partners data. Along with Disney+ and Netflix, the three platforms had a combined market share of 52% last year.

Viu announced that its revenue for 2022 jumped 45% year on year to US$206 million. The company also said it saw EBITDA go into the green for the first time in 2022 and that it reached more than 12 million paid subscribers.

The growth was driven by its focus on Asian and local content, especially its own shows under the Viu Original initiative. Some of the popular Viu Original series in 2022 were Korean shows Reborn Rich, Again My Life, and Law Cafe.

Aside from the five Southeast Asian countries above, Viu is available in 11 other markets, including South Africa, Egypt, and the United Arab Emirates.

For 2023, the company plans to host a series of events with stars from its original series to connect with users beyond their screens, said Janice Lee, CEO of Viu and managing director of PCCW Media Group, the video streaming platform’s parent company.

PCCW Media Group reported losses of US$86.2 million for its 2022 financial year.

See also: How Disney+’s Indonesian rivals plan to fight back