IT may not be familiar to everyone, but in Indonesia the Vidio platform is outperforming Netflix in the country's streaming market.
With subscription fees that start at 29,000 Indonesian rupiah, or less than two dollars, the Vidio platform offers one-screen access to most of its original series. It also offers a premium subscription for 569,000 Indonesian rupiah, or about US$36 (RM170) that allows customers to watch the 2022 soccer World Cup matches. Netflix's monthly subscription rates in the country, meanwhile, start at US$3.50 and go up to US$12.
A local approach
In addition to its attractive prices, Vidio has won over subscribers with its catalog that highlights very local content as well as sports. Sutanto Hartono, Vidio's CEO, explained to Rest of World media that the company's success was down to the dozens of local original series launched each year as well as sports programs.
In this region of Asia, Korean dramas and domestic series are the most popular types of content – something that Vidio's CEO seized upon early.
Netflix has also set out to make Korean series to draw in these audience demographics. The American giant has even announced that it's working on some Indonesian series – proof of how important this highly populated region is in the Asian streaming market. As for Disney+, it has announced a collaboration with Telkomsel, the largest telecom operator in Indonesia.
"In terms of engagement, Vidio leads,” Vivek Couto, co-founder of consultancy Media Partners Asia, told Rest of World. "And in terms of revenue, it's Netflix [first] and then Vidio," he said.
The Vidio platform is the fastest-growing streaming service in a country of 270 million people, according to Media Partners Asia's August 2022 report. "Vidio had a record quarter to reach approximately 3.5 million subscribers, becoming the second largest SVOD operator in Indonesia in terms of subscribers after Disney+ Hotstar. Q2 growth was driven by Vidio’s strengthened local originals slate, key sports and the movement of more content to the paid tier," they explained.
The platform started its ascent in 2017 after securing the rights to broadcast the Southeast Asian Games and attracting about 15 million viewers, Rest of World notes. According to Vivek Couto, Vidio could turn a profit in two to three years. – ETX Daily Up, October 29, 2022
