State of Indonesian & Philippines OTT video: Subscription September 2020 State of Indonesian OTT video: Subscription

Subscription over-the-top services in paid subscribers as coming from stand- Indonesia continue to invest heavily alone OTT aggregators as well as virtual in locally relevant content, either by multichannel services. They include producing local originals or collaborating subscribers from direct-to-consumer with local content producers. As subscriptions and those participating broadband infrastructure remains limited, through business-to-business wholesale making the most of telco partnerships licensing agreements. Subscription within the country is still crucial to durations less than a month are expand market reach and to provide more considered transactional and are not payment platforms. included in these counts. In addition, third- party promotional packages that last less Kagan estimates paid OTT video than a year are not included. subscriptions reached 48% of broadband households in 2019 and are likely to For our revenues projection, we anticipate grow at an approximately 13% CAGR in it to grow at an 18% CAGR, reaching $428.8 the next five years. We define OTT video million by 2024.

Indonesia subscription OTT video market projections, 2019-2024

Online video paid subscriptions (aggregate) (M) Total online video subscription revenues ($M)

(M) ($M) 10 500 9 450 8 400 7 350 6 300 5 250 4 200 3 150 2 100 1 50 0 0 2019 2020 2021 2022 2023 2024

Data as of February 2020. Paid subscribers are defined as those from standalone OTT aggregators and virtual multichannel services and include subscribers from direct-to-consumer subscriptions and those participating business-to-business wholesale licensing agreements. Sources: Industry data; Kagan estimates Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. © 2020 S&P Global Market Intelligence. All rights reserved.

2 S&P Global Market Intelligence State of Indonesian OTT video: Subscription

Iflix Sdn Bhd continues to provide diverse Inc. has been establishing its yet relatable content for its Indonesian presence in the country by continuing to audiences. During the last quarter of roll out localized initiatives. In December 2019, the OTT player premiered “Kisah 2019, the OTT service announced the Tanah Jawa: Merapi,” its first original launch of its mobile-only plan in Indonesia horror series from the country. Its recent that costs 49,000 rupiah per month. iflix original co-produced with Infinitus Productions also proved to be a hit in It also achieved another milestone recently Indonesia, which paved the way for as the country’s state-owned telco PT greater partnerships between iflix and Telekomunikasi Indonesia finally unblocked local creatives. Netflix after undergoing negotiation for four years. This was said to be due to In July 2019, the OTT service initiated the the OTT service’s change in approach rollout of sachet pricing to several areas in Indonesia, which includes offering of operation, including Indonesia. Its parental controls as well as agreeing to partnership with mobile tech company look into complaints received over content Fortumo allows subscribers to settle from the local government or regulators payment for iflixVIP through their within 24 hours. mobile operators. Meanwhile, Amazon.com Inc. Prime PCCW Media Ltd.’s Viu remains relevant by Video has had minimal progress with complementing its Asian content offering gaining momentum in Indonesia. There with localized original content in its has been little focus on localization different areas of operation. In Indonesia, initiatives compared to the other selected the OTT service has initiated a short film subscription OTT services. During the festival called Viu Shorts! since 2018 latter part of 2019, however, it collaborated that invites students from high schools with GoPay to provide an alternative and universities located in 17 Indonesian payment option to consumers, which could cities wherein these students enroll in help increase Amazon’s brand awareness workshops that focus on film production. in the country. The independent filmmakers showcased in the program are able to share their Market Landscape local cultures with Viu’s audiences in 16 different countries. With Indonesia’s broadband penetration still below the Asia-Pacific regional Viu Shorts! is in its second season, and coverage, telco partnerships continue to be since its launch, the program has enlisted instrumental for subscription OTT services. about 33 directors and 900 content In 2019, the country’s mobile penetration creators from 33 regions within the rate was still well over 100%. country. For its new season, the films were produced between August 2019 and March Multichannel penetration still remained 2020. These focused on local myths as well low, not even reaching half the region’s as cultural practices across Indonesia. estimated average of 72.5% for 2019. To sustain paying subscribers, subscription OTT players could take advantage of the country’s high mobile take-up rate and consistently provide locally relevant content at reasonable prices.

S&P Global Market Intelligence 3 State of Indonesian OTT video: Subscription

Indonesia penetration rates, 2019-2024 (%)

Broadband subscribers as a % of total households Multichannel penetration of TV households Mobile penetration of population

25 160

140 20 120

15 100 80

10 60

40 5 20

0 0 2019 2020 2021 2022 2023 2024

Data compiled July 2020. Sources: Industry data; Kagan estimates Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. © 2020 S&P Global Market Intelligence. All rights reserved.

Paid subscriber penetration of occupied households, 2019-2024 (%)

12

11

10

9

8

7

6 2019 2020 2021 2022 2023 2024

As of February 2020. Paid subscribers are defined as those from stand-alone OTT aggregators and virtual multichannel services and include subscribers from direct-to-consumer subscriptions and those participating business-to-business wholesale licensing agreements. Sources: Industry data; Kagan estimates Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. © 2020 S&P Global Market Intelligence. All rights reserved.

4 S&P Global Market Intelligence State of Indonesian OTT video: Subscription

Indonesia has made significant progress Indonesia OTT select monthly subscription affordability in terms of combating piracy since our last Price as a % of update. A recent study from the Asia Video Indonesia 2019 Price as % of Industry Association’s Coalition Against Monthly price GNI PPP 2019 IPTV ARPU Piracy reported there was a major drop (IDR) (%) (%) in levels of streaming piracy within the iflix* 39,000.00 0.28 45.7 last 10 months. Viu 30,000.00 0.21 35.1 Netflix# 139,000.00 0.99 162.7 According to the study, only about 28% of Amazon Prime Video^ 87,297.36 0.62 102.2 online consumers continue to use piracy Data compiled July 2020. streaming sites or torrent sites compared IDR = Indonesian rupiah * Annual subscription also available. to 63% result from a comparable survey # Standard two-screen subscription. done in September 2019. The same survey ^ Converted from USD. Sources: Industry data; Kagan estimates showed there was an 80% reduction Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. in the number of those who utilized an © 2020 S&P Global Market Intelligence. All rights reserved. illicit streaming device, or ISD, versus the September 2019 survey. Indonesia select SVOD OTT compatible devices The country’s Ministry of Communication Amazon and Information Technology has been iflix Viu Netflix Prime Video working with the Video Coalition of Streaming media player Indonesia since July 2019 in blocking more Apple TV ü ü than 2,000 piracy streaming sites as well as Chromecast ü ü ü ISD applications. Approximately 60 piracy Game console sites are being blocked every 10 days. PlayStation 3 ü ü PlayStation 4 ü ü Pricing Xbox One ü Tablet The selected online video streaming Android ü ü ü ü services have kept steady price points iPad ü ü ü ü with iflix and Viu maintaining the most Smartphone affordable pricing. Our affordability ü ü ü ü index calculates subscription price as a Android percentage of gross national income at iPhone ü ü ü ü purchasing power parity, and these two Smart TV services still registered below 0.5%. Sony ü ü Samsung ü ü ü Iflix and Viu’s monthly fees were also LG ü ü ü less than half the estimated 2019 Panasonic ü ü monthly average revenue per user for Philips ü ü an IPTV service, the country’s dominant Computer multichannel platform. Netflix, on the PC ü ü ü ü other hand, remained priced at a premium Mac ü ü ü ü compared to the other selected services As of third-quarter 2019, compiled July 2020. and traditional multichannel options Source: Industry data despite its efforts to step up in the local Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. landscape. A monthly subscription to © 2020 S&P Global Market Intelligence. All rights reserved. iflix and Viu combined was still less than Netflix’s affordability ratio of 0.99%.

S&P Global Market Intelligence 5 State of Indonesian OTT video: Subscription

Apps GoPlay

The selected online video streaming Indonesia’s ride-hailing firm Gojek services remained compatible with a launched its online video streaming service wide range of internet-connected devices GoPlay back in 2019. Consumers have the including smart TVs and streaming media option of a two-week subscription costing players, apart from computers and 29,000 rupiah or a monthly subscription mobile devices. for 45,000 rupiah.

Other Services In June, the OTT player announced it had sealed its first independent funding HOOQ round led by Golden Gate Ventures and ZWC Partners, alongside Redbadge After filing for liquidation in March 2020, Pacific, Openspace Ventures and multimarket OTT player HOOQ shut down Ideosource Entertainment. This funding its service as of April 30. In Indonesia, was said to be intended to enhance it collaborated with various local telcos GoPlay’s technological capability, including First Media, Telkomsel and Bolt. allowing the service to better address In these partnerships, the service was consumer demand for local content as bundled with subscription package deals well as enable more local filmmakers to along with other exclusive promotional exhibit their talent. offers for the companies’ subscribers. It also partnered with Grab in 2019 as the ride-hailing service integrated HOOQ’s video streaming service into its platform.

The OTT service also struggled to find a viable business model for its areas of operation. In Indonesia, it used to have quarterly, semiannual and annual subscription plans, aside from its monthly membership offering. Eventually, it shifted from providing a subscription-only service to a freemium one.

However, HOOQ was likewise under pressure to produce a great number of local content. During the last quarter of 2019, it launched the “Hooked On You” campaign, which showcased 19 new productions. This included 12 series and seven movies in an effort to deliver 100 HOOQ originals by the second quarter of 2020. The OTT player was supposed to introduce about 13 new originals in the country.

6 S&P Global Market Intelligence State of Philippines OTT video: Subscription

Initiating localized strategies continues Iflix Sdn. Bhd. continues to strengthen to be a priority for subscription over- its presence by maintaining local the-top services in the Philippines as partnerships. In July 2019, the OTT player they try to grow their paying subscribers. sealed a deal with Viva Communications Differentiating services along with Inc., a major multimedia company in the strengthening local distribution Philippines. The collaboration entailed partnerships is important in a country providing both iflix’s FREE and VIP where consumers are still adapting to subscribers’ access to Viva’s wide-ranging paying for online video streaming services. content of film classics, live concerts and series as well as modern indie pieces. The Kagan estimates paid OTT video two also aim to complete 30 films along subscriptions in the Philippines reached with nine series in the next three years. 60% of broadband households in 2019 and should grow at an approximate 17% CAGR over the next five years. We expect revenues to increase at a 22% CAGR, reaching about $210.3 million by 2024.

Philippines subscription OTT video market projections, 2019-2024

Online video subscribers (M) Total online video subscription revenues ($M) (M) ($M) 8 250

7 200 6

5 150 4

3 100

2 50 1

0 0 2019 2020 2021 2022 2023 2024

As of February 2020. Sources: Industry data; Kagan estimates Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. © 2020 S&P Global Market Intelligence. All rights reserved.

7 S&P Global Market Intelligence State of Philippines OTT video: Subscription

In September 2019, iflix joined the for three months. Pasig, another major city celebration of 100 years of Philippine located within the country’s metropolitan cinema by showcasing several local film area, also provided its residents free classics that gave viewers a crash course VIP access that same month, valid for in local film history. The compilation redemption until the end of June 2020. includes “Metro Manila,” which premiered internationally at the Sundance Film Viu has maintained its relevance across Festival in 2013; “El Filibusterismo at Noli Southeast Asia by offering Asian content Me Tangere,” a film adaptation of one of along with its own local originals. In the country’s major literary works; and August 2019, the OTT player announced “Bayaning Third World,” which revolves its collaboration with Wattpad to develop around the life and death of the national original films and series based on Wattpad hero, Jose Rizal. stories. This partnership will particularly entail developing youth-oriented shows The OTT player has also worked with a across Viu’s markets in an effort to expand couple of local government units and reach to Gen Zers and Millennials, which quarantine facilities throughout the entire make up the majority of Wattpad users. quarantine period in the country due to the coronavirus. In April 2020, residents of Taguig city were given free iflix VIP access

Filipino movies to be released in June 2020 Title Target release date Notes Pinoy Sunday June 5, 2020 Inspired by a 1958 Polanski short, this comedy- drama follows two Filipino immigrants in Taiwan who discover a discarded couch when they go on a day off from work Sunod June 14, 2020 A horror flick which focuses on the life of a single mother who takes a call center job where the building's sinister secrets start to haunt her. It was one of the entries in the 2019 Metro Manila Film Festival (MMFF) Lola Igna June 18, 2020 2019 Best Picture, Best Screenplay, Best Musical Score, and Best Actress at the Pista ng Pelikulang Pilipino Awards; Lola Igna is about an elderly woman whose life gets disrupted when her family and village realize that she stands a chance at a world record for being the oldest living grandmother Untrue June 22, 2020 A thriller-drama which follows Mara, who moves from the Philippines to Georgia, where she meets a mysterious man, Joachim. As they develop feelings for one another, Joachim claims to see visions of a strange woman and peculiar sounds Pamilya Ordinaryo To be announced The story revolves around a teenage couple in Manila who resort to desperate measures as their month- old child is kidnapped. This drama movie won Best Editing, Best Director, Best Film, and Best Actress at the 12th Cinemalaya Independent Film Festival. The Best Actress award was also bagged at the Asia Pacific Screen Awards As of May 2020. Source: Industry data Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. © 2020 S&P Global Market Intelligence. All rights reserved.

S&P Global Market Intelligence 8 State of Philippines OTT video: Subscription

In the Philippines, Viu introduced its Amazon.com Inc.’s Amazon Prime Video budget subscription plan in April at a has made gradual progress in establishing special monthly price of 25 Philippine its presence across Southeast Asia. In the pesos for the first three months. This rate, Philippines, apart from partnering with however, is only for first-time subscribers in 2018, the OTT player to the OTT service. inked a deal with local broadcaster GMA in first-quarter 2020. Some of its shows As for Netflix Inc., it remains invested that can be streamed through Prime in providing relatable programming Video include “The One That Got Away,” in the country. In collaboration with “Beautiful Justice” and “The Gift,” which Globe Telecom’s Globe Studios, Netflix are accessible in the OTT player’s 58 announced in October 2019 that its first countries of operation. original film from the Philippines, “Dead Kids,” would be released by the end of that Market Landscape same year. Five more local movies will also be available for streaming by June 2020 In the Philippines, partnering with local according to Netflix’s Manager of Content telcos remains important for subscription Acquisition, Raphael Phang. OTT services as this enables them to widen market reach and provide more payment These films join the roster of other local options. Based on our estimates, mobile films already available on Netflix including penetration in the country has been over “Miss Granny,” “Eerie,” and “The Girl 100% since 2014, and it should reach Allergic to Wi-Fi,” all of which were said to approximately 176.8% by 2024. be part of the top 10 popular titles in the country for 2019. Philippines penetration rates, 2019-2024 (%) 2019 2020 2021 2022 2023 2024 In an effort to capture the country’s low- Multichannel penetration of TV 36.9 39.2 41.1 42.8 44.2 45.5 income segment, the OTT player rolled out households in March its mobile-only plan which costs Mobile penetration of population 154.78 157.43 161.40 167.06 171.64 175.74 149 pesos, or approximately US$3.00, As of May 2020. per month and offers ad-free content Sources: Industry data; Kagan estimates in standard definition. Subscribers, Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. © 2020 S&P Global Market Intelligence. All rights reserved. however, can only stream using one mobile device at a time. Multichannel penetration has also been During that same month, Netflix consistently increasing. By 2024, it is agreed to the request of National expected to reach about 45.5%, more Telecommunications Commission, or NTC, than half the region’s projected average to reduce video quality in the country of 76.7% for the same year. This suggests due to concerns raised that local telco that despite the existing reluctance faced networks will become overloaded as by paid online video streaming services millions of people are forced indoors during in the country, continued investment in the COVID-19 pandemic. accessible and locally relevant content, alongside high mobile take-up rate, can help a subscription business thrive in the Philippines.

S&P Global Market Intelligence 9 State of Philippines OTT video: Subscription

Like most of the countries placed under Apps lockdown or on stay-at-home orders because of the pandemic, the Philippines The selected OTT services remain available has seen a deep surge in video content on a wide array of compatible devices. consumption with most of its people forced to stay in. To ensure the public Philippines select SVOD OTT compatible devices has a stable internet connection, the Amazon country’s Department of Information and Column header iflix Viu Netflix Prime Video Communications Technology, or DICT, Streaming media player commissioned the NTC to monitor the Apple TV ü ü compliance of internet service providers and Chromecast ü ü ü of mobile network operators in providing Game console sufficient bandwidth allocation, network PlayStation 4 ü signal as well as availability of service during Tablet the enhanced community quarantine period Android ü ü ü ü which began sometime in March 2020. iPad ü ü ü ü Smartphone This initiative also entailed requesting assistance from online video streaming Android ü ü ü ü services in the country as a supplementary iPhone ü ü ü ü measure to make sure that the country’s Smart TV internet connectivity remained stable. Sony ü ü Samsung ü ü ü With local revenues taking a plunge also LG ü ü ü due to the imposed lockdown, a Philippine Panasonic ü lawmaker initiated the filing of House Bill Philips ü No. 6765, which tries to compel companies Computer that offer digital services such as Netflix, PC ü ü ü ü Google, Spotify and Facebook, along with Mac ü ü ü ü digital selling platforms such as Shopee As of third-quarter 2019. and Lazada, to pay additional tax. Source: Industry data Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. Pricing © 2020 S&P Global Market Intelligence. All rights reserved.

The selected OTT players have all kept Philippines OTT select monthly subscription affordability their respective monthly fees at around Price as a % of the same rate over the last couple of years, Philippines Price as % of with iflix and PCCW Ltd.’s Viu still having Monthly Price 2019 GNI PPP 2019 DTH ARPU (PHP) (%) (%) the most affordable pricing. iflix* 129.00 0.26 44.9 Based on our affordability index, the Viu 129.00 0.26 44.9 country’s dominant multichannel Netflix# 459.00 0.91 159.7 platform, direct-to-home, also continues Amazon Prime Video^ 305.73 0.61 106.4 to be within the reasonably priced range As of third-quarter 2019. * annual subscription also available since it still ranks below 1%. In 2019, it ** quarterly, semi-annual, and annual subscription also available generated a monthly average revenue per # standard two-screen subscription user of US$5.58. For Netflix and Amazon ^ converted from USD Sources: Industry data; Kagan estimates Prime Video, however, pricing may curtail Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. their uptakes since they are still both © 2020 S&P Global Market Intelligence. All rights reserved. priced at a premium. 10 S&P Global Market Intelligence State of Philippines OTT video: Subscription

Other Services iWant

HOOQ Since its 2018 relaunch, ABS-CBN Corp.’s iWant began offering a more extensive Five-year-old OTT player Hooq Digital content catalog. Apart from providing PTE. Ltd. has shut down after filing for restored classics and - liquidation in March 2020. Its Philippine produced films, the OTT player has homepage currently redirects to a also worked with various local content statement of thanks and that the service creators as it invested on original content. is no longer available as of April 30, Its advocacy series “Mga Batang Poz,” 2020. There is also an FAQ section for its which highlights the lives of HIV-positive current subscribers. teens, won Best Original Program by a Streamer/OTT at the 2019 Asian Academy Despite HOOQ’s revenue more than Creative Awards. doubling to US$22 million from US$10 million in 2018, its pretax loss also In a March 2020 news release by ABS-CBN, increased from US$56.6 million during the the major broadcaster stated that iWant previous year to US$62.5 million, based on tripled its viewership as the service made the documents that have been filed with more than a thousand movies available for Singapore’s Accounting and Corporate free while people were confined to their Regulatory Authority, or ACRA. homes because of the COVID-19 pandemic. From March 15 to March 21, its original Aside from struggling to find a viable content had a 45% increase in the number business model, since it had to move from of views. Some of the original titles that providing a subscription-only service to gained the highest viewership for that a freemium one, HOOQ was also under period include “Fluid,” “Hush” and “I Am U.” pressure to maintain, develop and produce a great amount of local content. In January, Like Netflix, iWant agreed to the the OTT player had announced its target NTC’s request to reduce its streaming to release 100 originals by second- bitrate, which should help ease quarter 2020. This initiative would have pressure on local telco networks during showcased languages from its different quarantine measures. areas of operation, including Tagalog from the Philippines. Users can access almost the entire iWant library for free, wherein there are two DisneyLife pre-roll ads and three mid-roll ads while streaming. Premium subscription plans It has only been about two years since The are also available for 15.00 pesos per day, Walt Disney Co.’s DisneyLife entered the 60.00 pesos for a week and 120.00 pesos Philippines through its partnership with for a month. Pay-per-view titles are also local major telco Globe Telecom. However, available for 30.00 pesos each and remain the latter announced that effective Feb. accessible for seven days. 1, 2020, it discontinued offering new DisneyLife subscriptions. In the telco’s FAQ page about DisneyLife, it is also mentioned that as of April 1, 2020, the OTT service can no longer be accessed in the country.

S&P Global Market Intelligence 11 State of Philippines OTT video: Subscription

HBO Go

AT&T Inc.’s HBO Go was initially introduced in the country in 2014 as exclusive to subscribers of local operator Sky Cable. During the latter part of 2019, the service was rolled out locally as a stand-alone OTT service. Users can subscribe by downloading the HBO Go app from the Apple App Store or Google Play with a monthly fee of 149.00 pesos.

Aside from providing unlimited access to original content from HBO, HBO Asia as well as Cinemax, the service also has a live TV function that allows streaming of HBO Asia’s TV channels including HBO, HBO Hits, HBO Signature, HBO Family, Red by HBO and Cinemax.

Account users are allowed two concurrent streams on five registered devices. HBO Go is also equipped with Alphabet Inc.’s Google Chromecast and Airplay functionality, besides being accessible on mobile devices and on computers.

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