Max, Warner Bros. Discovery’s streaming platform, made a strong entry into Southeast Asia, gaining 1.4 million subscribers in Q4 2024, according to research from Singapore-based consultancy Media Partners Asia (MPA). Launched in November 2024, Max expanded into five key markets Thailand, Malaysia, Indonesia, Singapore, and the Philippines and captured 26% of the region’s net streaming subscriber additions for the quarter.
The platform’s success was driven primarily by its strong performance in Thailand and a content lineup featuring popular titles like House of the Dragon, The Big Bang Theory, and Friends. MPA predicts continued growth for Max in 2025, especially with upcoming originals, including the Thailand-based third season of HBO’s The White Lotus. Additionally, as more Warner Bros. Discovery pay-TV customers activate the Max app across the region, engagement is expected to rise.
Despite this solid start, Max still trails Netflix, the dominant streaming platform in Southeast Asia. Netflix secured 48% of Q4 2024’s net customer additions, maintaining its lead with a content library packed with Korean dramas, U.S. series, and an expanding slate of local original productions. MPA reports that Netflix ended 2024 with nearly 12 million subscribers across the five SEA markets.
Netflix also holds a 52% share of total viewership and 42% of revenue in the region. Furthermore, the company plans to strengthen its presence with 14 new original productions for Indonesia and Thailand set for release in 2025.
Additionally, local and regional streamers continue to expand their reach. Indonesia-based Vidio led its domestic market with 4.7 million subscribers by the end of 2024, while Viu closed the year with 9.5 million subscribers across SEA. Disney+ maintained a steady 10% share of the region’s streaming revenue, supported by service rebranding and pricing adjustments.
Vivek Couto, executive director of MPA, said, “Southeast Asia’s streaming landscape is evolving rapidly.” And Added, “While Netflix has solidified its leadership position, the category is growing with the entry of Max and the scaling of local and regional platforms like Vidio, Viu, and TrueID. The next phase of growth will be fuelled by the expansion of connected TV and home broadband penetration. Continued investment in local/Asian content and premium sports, led by Netflix and key local and regional platforms in Indonesia, Thailand, and Malaysia, will further stimulate growth. The industry is also exploring new strategies focused on short-form content and bundling partnerships to attract and retain subscribers.”
Overall, the Southeast Asian streaming market grew significantly in Q4 2024, adding 3.2 million new SVOD subscriptions and bringing the regional total to 53.6 million—a 12% year-on-year increase. Indonesia, the Philippines, and Malaysia were key drivers of this growth. SVOD revenues also saw a 14% jump, reaching $1.8 billion for the quarter, with Indonesia contributing $552 million and Thailand following with $473 million.
As Southeast Asia’s streaming market continues to expand, competition among global giants and regional players is expected to intensify, shaping the future of digital entertainment in the region.