ContentAsia September 2025

SEPTEMBER 2025

C

NTENT

Acquisitions & Production: The Asia Update

Korea 911: Flatline or Fight Back?

PLUS Formats Outlook, Box Office: A Summer Rebound & more

contents...

what’s inside...

Formats Outlook

Plot twists

By unignorable volume, scripted and unscripted adaptation pickups in Asia ended June 2025 a shadow of their once-upon-a-time prime. While a different narrative is unfolding, here’s what we counted in the first six months of this year.

Korean studios are cutting back at home, but powering ahead abroad, says Dhivya T, Lead Analyst & Head of Content Insights at MPA & ampd.

6

Bad Guys, Vidio

Off script

Hot Tickets

Global streamers have slashed Korean drama commissions by 43% over the past two years, a new report from Ampere Analysis shows. But, as the scripted market crashes and interest in unscripted originals rises, there may be a new opportunity for Korea’s producers.

For one weekend in mid-August, six Asian films made the global box office Top 10 – three Chinese films, two Indian productions and one Japanese – all part of a Summer rebound in major East Asian territories after a slack Spring. This represents both a relief for struggling cinema operators and a welcome return to conventional seasonal patterns, says Patrick Frater.

12

C

An Insider’s Guide to Asia’s Content Wish Lists Drama, movies and animation dominate acquisitions’ wish lists in Asia for the rest of 2025 and into 2026, according to ContentAsia’s latest poll.

Released in the run-up to the ContentAsia Summit in September, the survey shows drama at the top of the list (72%), followed by movies (64%) and animation (56%). Other high-interest genres include action/adventure (50%), kids (42%), variety shows (36%), crime/thriller (36%), romance (33%), and comedy (33%). Here’s what else we discovered...

18

Demon Slayer: Kimetsu no Yaiba – The Movie: Infinity Castle

14

Wins & Woes For every TV woe in Vietnam at the moment, the film industry seems to have multiple wins. Martial arts star Johnny Trí Nguyễn is just one of them.

26

Johnny Tri Nguyen in BHD’s The Last Secret of the First Emperor (Hộ Linh Tráng Sĩ - Bí Ẩn Mộ Vua Đinh)

contentasia september 2025

10 NTENT

Editorial Director Janine Stein janine@contentasia.tv Events Manager CJ Yong cj@contentasia.tv ContentAsia Marketing & Awards Heather Berger awardsr@contentasia.tv Production Rae Yong Research Rhealyn Rigodon iyah@contentasia.tv Associate Publisher (Americas, Europe) and VP, International Business Development Leah Gordon leah@contentasia.tv Assistant Publisher (Asia/Middle East) Malena Amzah malena@contentasia.tv To receive your regular free copy of ContentAsia, email contentasia@contentasia.tv Copyright 2025 Pencil Media Pte Ltd. All Rights Reserved.

3

3-4 September 2025 Eslite Art House, Taipei 台北誠品電影院

Timeless Memories 业落夕阳 3 September 2025 11:30AM-12:45PM

Mediacorp Singapore

Zona Merah

3 September 2025 2:15PM-3:25PM

Vidio Indonesia

The Traitors 3 September 2025 3:55PM-5:25PM

All3Media International

Screenings & Discussions

contentasiasummit.com/#agenda

Bride from the Past 幽冥新娘 3 September 2025 5:25PM-7:25PM

Astro Malaysia

Drug War: A Conspiracy of Silence 3 September 2025 7:25PM-8:55PM

KC Global Media Asia

A Controversial Entertainer 男公館 4 September 2025 12:15PM-1:15PM

KC Global Media Asia

formatsoutlook

Bad Guys, Vidio

Formats Outlook 1H 2025 Vietnam Cambodia 3% Hong Kong 4% 3%

By volume, the acquisition of format rights in Asia is a shadow of its once-upon-a-time prime. Interest Thailand is still high though, if impacted by economic 15% circumstances, and shows like Applause Entertainment’s Tanaav (based on Yes Studios’ Fauda) have multiple seasons; Korea’s Good Doctor got rave reviews in Thailand as หมอใจ พิเศษ; and we’re waiting to see if CJ ENM’s Sri Lanka Asia’s formats Bad Guys will return to streaming platform 8% Vidio in Indonesia for a second season. by country, For unscripted, The Traitors tops our watch Jan-June 2025 Singapore list, not least because it’s confirmed to be 1% returning to India, but also because a Korean version could be in the works. Plus, original Philippines development/co-development in Asia is vibrant 13% and bearing fruit. Meanwhile, here’s what we counted in the first six months of this year.

Pakistan 3% Nepal The first half of 2025 delivered at least 78 formats commissioned/on air across Asia, with the adaptations spotlight firmly on South and Southeast Asia, according to ContentAsia’s latest Formats Outlook research and analysis.

India led by volume with 16 titles, representing 21% of all activity, followed by Thailand with 12, the Philippines with 10, and Indonesia with

1% Korea Mongolia 3% 4% Malaysia 4%

India 21%

Indonesia 12%

Japan 6%

China 1%

Source: Distributors/rights holders, titles/seasons either on air or commissioned in January-June 2025 by broadcasters/platforms/companies in 18 countries in Asia (including Bangladesh and Nepal, which recorded no new activity this period)

nine. Together, these four markets accounted for more than 60% of all the formats commissioned/on air in the first six months of the year.

Further down the league table, Sri Lanka posted six adaptations and

each, and single-title adaptations emerged from China, Nepal and Sin-

Japan five, while Malaysia, Mongolia and Vietnam each registered

gapore. The spread underlines a broadening regional footprint but also

three. Pakistan, Cambodia, Hong Kong and Korea contributed two

a clear concentration of volume in South Asia.

6

contentasia september 2025

formatsoutlook

Sri Lanka in particular returned to the headlines this year with ITV Stu-

adaptations, from the BL remake of Ossan’s Love commissioned by GM-

dios’ Catchpoint commissioned by Sirasa TV; the show premiered in

MTV and CJ ENM romcom What’s Wrong With Secretary Kim on TrueID,

mid-July as SIRASA Catchpoint. This is the first local version of the physi-

to MasterChef Thailand: The Professionals on BBTV Channel 7 and Net-

cal game show in Asia, and joins Sirasa’s renewal of The Voice (season

flix. In the Philippines, Fremantle’s Family Feud remained a primetime

three) and The Voice Teens (season four), both set to air this year, and

staple on GMA with two seasons (S9/S10). Nippon TV’s Mother also

builds on a consistent slate that has included big-brand commissions

inspired Saving Grace across multiple broadcasters: the adaptation

such as Who Wants to be a Millionaire (season 11) and The Money Drop

streamed on Prime Video from November 2024 to 9 January 2025 with

(seasons two and three). Both were included in ContentAsia’s Formats

14 episodes, while an extended version, Saving Grace: The Untold Story,

Outlook report for 2023/2024.

premiered in March on Kapamilya Channel’s Primetime Bida evening

Slates elsewhere reflect similar unscripted momentum. India alone

block and concluded in June 2025 with 78 episodes.

By genre, reality formats dominated the landscape, driving 42% of all

aired and renewed titles including All3Media International’s The Traitors India seasons one and two for Prime Video, multiple versions of Banijay’s

activity with 33 titles.

Game shows followed with 29%, accounting for 23 adaptations,

Bigg Boss (Big Brother) on Jio Cinema, Asianet, Star Maa,

while scripted drama contributed 22% with 17 titles. These included

Colors Kannada and Star Vijay, and Banijay’s MasterChef India season S9/S10 for Sony SET. In Cambodia, MasterChef Cam-

Variety 3%

bodia returned for its fourth season on free-to-air station CTN TV, while

Korea’s KBS Media period drama Hwarang: The Poet Warrior Youth, commissioned by Avex Pictures as a Japanese

Drama 22%

stage play that premiered in January 2025, and Winter Sonata, now being adapted into a webtoon in Japan

by IMX Inc.

Indonesia’s busy slate featured

Music (3) and variety (2) played smaller roles.

multiple seasons (S9/S10/S11) of game show Family Feud on MNCTV alongside MasterChef Indonesia on RCTI. Thailand leaned heavily into both scripted and

Reality 42%

Drilling down, the strongest drama drivers were

Asia’s formats by genre, Jan-June 2025

romance at 35% (6) of all scripted adaptations, followed by thrillers at 29% (5) and crime at 24% (4). BL and comedy contributed smaller but distinct niches, each accounting for one title each.

On the reality side, singing competitions proved

unscripted

most prolific at 27% (9), closely followed by cooking

Game show 29% Music 4%

at 24% (8) and social experiment shows at 21% (7).

Dating formats took 9% (3) of the share, while business and talent formats registered 6% (2) each.

Factual and fashion/beauty genres, though small at one

title each, still contributed to the variety in Asia’s reality mix.

The distribution picture was led by Banijay Rights and Fremantle, MasterChef Cambodia, Banijay

each claiming 23% of the region’s total with 18 titles each.

CJ ENM ranked third with 12 titles (15%), while ITV Studios ended the first half with six commissions, or 8%. Other active players included Japan’s Nippon TV (4), Korea’s KBS Media (3), All3Media International (3), NBCUniversal Formats (2), NPR Music (2), Sony Pictures Television (2) and Thailand’s Workpoint Group (2). Single-title contributions came from Philippines’ ABS-CBN, BBC Studios, Can’t Stop Media, Japan’s TV Asahi, Warner Bros International Television Production

Saving Grace, ABS-CBN Studios

and Yes Studios.

The dominance of Banijay and Fremantle was underscored by multiple MasterChef and Family Feud commissions, while CJ ENM supplied scripted formats including romance drama format My Lovely Liar in Hong Kong (for ViuTV) and thriller Happiness in Thailand (TrueID), alongside unscripted staples like I Can See Your Voice.

Ossan’s Love, GMMTV

8

contentasia september 2025

Visit contentdistribution.mediacorp.sg for more information, or contact us at content_dist@mediacorp.com.sg

datakorea

Plot twists Korean studios are cutting back at home, but powering ahead abroad, says Dhivya T, Lead Analyst & Head of Content Insights at MPA & ampd.

Co-productions as a growth lever Market

Title

Genre

Studios

Platform

Unique Users (mil.)

Platform Rank

Japan

Hatsukoi DOGs

Drama / Romance TBS, Studio Dragon

TVer

6.1

2

Japan

Marry My Husband

Sci-Fi / Fantasy

CJ ENM, Jayuro Pictures, Shochiku

Prime Video

6

1

Indonesia

Bad Guys

Crime / Thriller

Base Entertainment, CJ ENM

Vidio

2.3

3

Thailand

Happiness Thailand

Crime / Thriller

True CJ Creations

True ID

2.1

12 Source: MPA, ampd

Korea’s most prolific production studios have maintained hit rates and

These titles and their performance illustrate how Korean companies

delivered impactful co-productions across Asia, even as domestic

are evolving from exporters of finished IP to active co-creators, securing

drama output contracts under rising production costs, according to

upside across multiple territories while mitigating the risks of high domes-

new research from Media Partners Asia & ampd.

tic budgets.

Korean content remains a major engagement driver across premium VOD streaming services in Asia. In Q2 2025, Korean content accounted

CULTURAL IMPACT & LOOKING AHEAD Notably, one of the top titles across

for 35% of total premium VOD viewership in Southeast Asia, 86% in Ko-

multiple Asian markets in July was Netflix’s Sony-produced animated

rea, and 5% in Japan.

feature K-pop Demon Hunters. The film is an American production, but its popularity underscores how Korean-origin cultural phenomena like K-pop

SHRINKING K-DRAMA SUPPLY The Korean Drama Production Association reports that the number of domestically produced dramas peaked

now inspire global storytelling well beyond Korea’s borders.

Korea’s content and cultural prowess remain highly visible across

at 141 titles in 2022, before dropping to 107 titles in 2024. The figure is

Asia’s premium VOD ecosystem. The July data paints a picture of an

expected to moderate further in 2025 as broadcasters and studios ad-

industry in transition: fewer dramas at home, but a sustained ability

just strategies amid escalating costs. The average production cost per

to generate regional and global hits through smart partnerships and

episode now ranges from KRW1 billion-KRW3 billion/US$717,500-US$2.2

cultural leverage. As domestic costs rise, co-productions in Japan, Thai-

million, creating barriers to sustaining high-volume pipelines.

land, and Indonesia provide Korean studios with cost-effective avenues

This contraction has already reshaped market dynamics.

to sustain output, extend influence, and embed their storytelling DNA

CJ ENM (including subsidiary studios such as Studio Dragon) remains

across Asia’s streaming landscape.

the most prolific player, contributing 19 of the top 100 Korean titles in Korea in Q2 2025, a decline from 26 the previous year. JTBC saw its share of the top 100 fall from 17 to just 6 titles. The downturn reflects an industrywide recalibration, where fewer titles are produced, but expectations for each to deliver global resonance are higher.

CO-PRODUCTIONS AS A GROWTH LEVER As domestic pipelines slow, Korean studios, particularly CJ, are rebalancing by seeking out lowercost, higher-impact opportunities abroad through cross-border coproductions. This strategy has delivered some of the region’s most visible July hits. These include Hatsukoi DOGs (TBS/Studio Dragon), Marry My Husband (CJ ENM, Jayuro Pictures, Shochiku), Bad Guys (Base Entertainment, CJ ENM) and Happiness Thailand (True CJ Creations).

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Media Partners Asia (MPA), established in 2001, is a leading independent provider of advisory, consulting and research services, focusing on media and telecoms in Asia Pacific. MPA also operates ampd, launched in 2019, which measures digital activity across 12 markets using proprietary software, with detailed insights to drive planning and business outcomes.

Across the 12 markets in which we operate, ampd leverages passively measured panel members with two SaaS-based products – ampd Vision and ampd Pulse – while providing customized research to clients across streaming VOD, content, advertising, telecoms, and more. Our clients include leading global internet and technology brands, Hollywood and Asian content studios, advertising agencies, telcos, and pay-TV operators. ampd won the Best International Video Media Research Award at the 2023 UK Mediatel Media Research Awards, which recognises organisations driving innovation in research.

contentasia september 2025

INTERNATIONAL RECOGNITION

MALAYSIA’S BIGGEST ANIMATED FRANCHISE Blending action, family, and secrets, Ejen Ali has grown from a Malaysian hit into an internationally acclaimed spy saga.

For collaborations & distribution: contentdistribution@mediaprima.com.my

datakorea

Off script Global streamers have slashed Korean drama commissions by 43% over the past two years, a new report from Ampere Analysis shows. But, as the scripted market crashes and interest in unscripted originals rises, there may be a new opportunity for Korea’s producers.

Global streamers have slashed Korean commissions by 43% and local

moves like Netflix’s cap on actors’ fees could lead to a “more acces-

production – crippled by rising production costs – fell by 20% in the two

sible and reinvigorated local production landscape” – and particularly

years between the first half of 2023 and the first half of 2025, a new

the proportion of content being produced for local platforms and

report from Ampere Analysis shows.

channels.

Scripted commissions have been hit hardest; the number of scripted

“As large international players moved into the Korean market, they

announcements dropped 39% between the first half of 2023 and the

found success with Korean content among a worldwide audience,

first half of 2025.

which has seen them invest heavily in original Korean content,” says

Netflix has bucked the trend, maintaining volume while would-be

Fred Black, Ampere’s research director.

global rivals cut Korean commissions. Ampere says Netflix accounts

“This has pumped investment into the Korean production landscape

for 88% of South Korea’s H1 2025 global SVoD announcements, but

and electrified the demand for Korean content globally. But it has also

has reduced its proportion of scripted content as it shifts its focus to

caused significant inflation to production costs in Korea. This has then

unscripted.

had the effect of pricing out local platforms and channels from being

The August 2025 report said global demand was expanding even as commissions were shrinking.

“Local companies have struggled with rising production costs and the broader macroeconomic challenges, while international SVoD

able to produce the same quantities of their own local content, as production capacity is taken up by more expensive projects for international players,” Black says.

Now, global streaming services are beginning to revise down their

[platforms] are shifting their content strategy towards acquisitions and

commitment to original content in Korea – a function of cost-cutting

original unscripted K-content,” Ampere says.

initiatives.

The share of viewers outside Korea who say they watch South Ko-

“However, there is ongoing demand for that content from a large

rean TV series or films “sometimes” or “very often” rose from 22% in Q1

global audience. This should encourage local platforms and channels

2020 to 35% in Q1 2025 – a 13 percentage point increase.

to commission more, and take risks on more expensive content, with

Ampere said the availability of South Korean content on international streaming services increased by 55% between 2021 and 2024.

Ampere Analysis analyst, Mariana Enriquez Denton Bustinza, said

12

the certainty there is an international audience out there for it.”

If there are fewer originals than before, global players may well drive an invigorated syndication/distribution market.

contentasia september 2025

CONTENTASIA AWARDS 2025

VIEWERS’ CHOICE AWARDS YOUR VOTES

Vote for Your Favourite Movies & Drama Series Presented by

YOUR WINNERS

Vote for Your Favourite Actors & Actresses Presented by

filmsummerboxoffice

My Daughter is a Zombie, Contents Panda

Hot Tickets For one weekend in mid-August, six Asian films made the global box office Top 10 – three Chinese films, two Indian productions and one Japanese – all part of a Summer rebound in major East Asian territories after a slack Spring. This represents both a relief for struggling cinema operators and a welcome return to conventional seasonal patterns, says Patrick Frater.

Cinema business activity over the Summer has rebounded after a

Daughter reverses the usual zombie horror narra-

slack Spring in several major East Asian territories. That represents

tive and instead its story sees a father who embarks

both a relief for struggling cinema operators and a welcome return

on a life-or-death mission to train his daughter, the last

to conventional seasonal patterns.

remaining zombie.

In South Korea, the 4 July to 10 August period threw up six consecu-

F1’s performance is a particular triumph for Imax, which

tive weekends with nationwide cinema revenues in excess of US$10

helped turn the car-racing thriller into a must-see event. After

million. In the first six months of 2025 there had only been one.

opening in late June, it achieved the rare feat of returning to the top

The mini-boom was powered by a healthy mix of Korean-produced

of the Korean charts in its fourth week of release. This in a country

and imported titles, which have delivered the top results seen so far

without much of a Formula One track record; Korea is not host to a

this year.

F1 race and the country has not yet produced a top-flight driver.

Local feature My Daughter is a Zombie is this year’s most watched

Other summer highlights have included big-budget Korean fantasy

film with 4.31 million tickets sold since release on 30 July. Apple’s

Omniscient Reader (US$7.19 million) and imported adventure franchise

F1: The Movie claims the crown for highest gross to date in 2025 at

instalment Jurassic World: Rebirth, which has a US$15.3 million total.

US$31.8 million.

14

Before Covid, Summer seasons were often marked by a mix of

contentasia september 2025

Nobody

F1’s performance in Korea is a particular triumph for Imax screens and technology... in a country without much of a Formula One track record.

Korean-produced

the industry enjoyed a spectacular Lunar New Year season, but from

horror-comedy

February to June activity was mostly weak. Summer, which commen-

films and Hollywood

tators define differently, has been notably firmer.

tentpoles, and had become a key boost for Korean cinema.

One explanation for this

Demon Slayer: Kimetsu no Yaiba – The Movie: Infinity Castle

Imported titles Jurassic World: Rebirth and Japanese animation Detective Conan The Movie: One-Eyed Flashback both enjoyed US$25 million opening weekends.

But their exploits have been overtaken by a strong succession of Chi-

annual mid-year bump is

nese-made pictures. Chief among these have been The Lychee Road

that the oppressive heat and

(with a US$94 million haul) and the patriotic-historical Dead to Rights,

humidity, which drives people into air-conditioned cinemas. Horror films are a summer staple in Korea and are said

which has earned US$357 million in its first four weeks on release.

In August, Dead to Rights was displaced from the top spot by Nobody, the second Chinese-produced animated film to head the

to create (welcome) cold sweats. A more prosaic

box office charts this year. It follows all-time record breaker Ne Zha 2,

explanation could be the effects of academic holidays and a wide

which dominated proceedings in January and February and earned

selection of entertaining titles on offer.

an astonishing US$2 billion.

But Korean movies and Korean exhibitors have both struggled to

Based on stories about four minor characters from the traditional

recover post-Covid and this summer’s modest rebound cannot be

Journey to the West tale, Nobody is reported to also be the highest-

taken for granted.

grossing Chinese film ever made using the traditional 2D animation

A similar pattern could be observed in mainland China. This year

process, rather than CGI or 3D animation. In 16 days of release, No-

15

filmsummerboxoffice

Global/International Box Office Estimates for the weekend of 15-17 August 2025 Rank

Title

Distributor Int’l

Dom

WB

# of Territories

Worldwide Estimate (US$)

International Estimate (US$)

Domestic Estimate (US$)

Weekend

Cume

Weekend

Cume

Weekend

Cume

74

$43,400,000

$148,745,000

$18,400,000

$59,700,00

$25,000,000

$89,045,000

Territories of Origin

1

Weapons

WBI

U.S.

2

Nobody

MultiCN

1

$32,000,000

$137,250,000

$32,000,000

$137,250,000

China

3

Demon Slayer: Kimetsu no Yaiba – The Movie: Infinity Castle

Multi

9

$31,302,000

$192,779,000

$31,302,000

$192,779,000

Japan

4

Coolie

Multi

PRATH

21

$27,568,306

$45,339,380

$25,200,000

$39,000,000

2,368,306

$6,339,380

India

5

Freakier Friday

Disney

DIS

48

$23,800,000

$86,276,337

$9,300,000

$31,500,000

$14,500,000

$54,776,337

U.S.

Source: Comscore, Global/International Box Office Estimates for the weekend of 15-17 August 2025 Chart recreated by ContentAsia

One explanation for this annual mid-year bump is [Korea’s] oppressive heat and humidity, which drives people into air-conditioned cinemas...

But Korean movies and exhibitors have both struggled to recover post-Covid and this summer’s modest rebound cannot be taken for granted. body has accumulated US$139 million of gross revenues.

In Japan, the world’s third-richest cinema market after North America and China, there have also been Summer fireworks. Demon Slayer:

Frozen and Titanic, though it is currently short of overall record-holder Kimetsu no Yaiba – The Movie: Mugen Train, which amassed ¥40.43 billion in 2021.

Kimetsu no Yaiba – The Movie: Infinity Castle has become the highest

The success of the Asian films this Summer has also impacted global

grossing film of the year and the fifth biggest film of all time at the Nip-

box office. Over the 15-17 August weekend, Nobody was the world’s

pon box office. Kimetsu no Yaiba is both a continuation of a franchise

second-best performing movie, while Kimetsu no Yaiba was third. And

that straddles film and TV and the first of a trilogy of feature films.

the weekend top 10 included three Chinese films, two Indian produc-

After 30 days on release, it achieved ¥25.32 billion (approx. US$170

tions and one Japanese – alongside four Hollywood titles.

million). It overtook the iconic Your Name and is on course to surpass

16

contentasia september 2025

buyerspoll

Hot Lists, Hard Passes Drama, movies and animation dominate buyers’ wish lists in Asia for the remainder of 2025 and into 2026, according to ContentAsia’s latest Buyer Survey. Released in the run-up to the ContentAsia Summit in September, the survey shows drama at the top of the list (72%), followed by movies (64%) and animation (56%). Other highinterest genres include action/adventure (50%), kids (42%), variety shows (36%), crime/thriller (36%), romance (33%), and comedy (33%). Here’s what else we discovered...

What are buyers acquiring for the rest of 2025 and 2026?

Along with the Gods: The Two Worlds NOTES: The information was gathered from 36 acquisition executives from 33 companies, operating across a wide range of genres in 10 countries (Brunei, Cambodia, Indonesia, Japan, Malaysia, Philippines, Singapore, Taiwan, Thailand, and Turkey), as well as regional programmers and operators across video broadcast and streaming platforms in Asia. 12 free-TV broadcasters participated, along with 11 programming/distributor companies, six streaming/online/on-demand services, four pay-TV platforms and three pay-TV channels. The survey was conducted between 15 July and 5 August 2025.

18

contentasia september 2025

Scripted television series continue to lead acquisition priorities in Asia, with 72% of surveyed buyers identifying a genre broadly as a top strategic focus. Movies – including both theatrical and TV titles – follow at 64%, alongside animation at 56% and kids’ programming (42%).

Drilling down into scripted, action/adventure led with 50% of buyers, followed by crime/thriller (36%). In the mid-tier, comedy (scripted and unscripted) and romance are each acquired by one in three buyers, with reality and lifestyle also holding steady.

Segments such as arts & culture, fantasy/sci-fi, documentary (general/investigative/biographical), and horror/supernatural attract one in four buyers, while food/culinary, sports, music/entertainment and historical titles capture smaller but steady interest.

Respondents highlight evolving strategic priorities as audience behaviours shift – though brand loyalty continues in some cases to outweigh short-term viewing spikes. In Japan, for example, the enduring success of long-running fan-favourite anime property, Detective Conan, ranks among this year’s strongest performers on one of the country’s major platforms.

KOREAN ORIGINALS Asian audiences’ sustained appetite for Korean content continues to drive acquisition strategies across the region. However, escalating licensing costs – reaching up to asks of US$900,000 per episode – driven by stratospheric production budgets are prompting buyers to reassess portfolio priorities. Platforms are increasingly diversifying with lower-cost acquisitions and alternative formats that deliver stronger cost-to-value efficiencies while sustaining competitive audience engagement.

Despite pricing pressures, selective investment Broken Heaven, Bidaah

continues to deliver results. In Taiwan, Bill Sung, EVP of Cai Chang International, highlights Korean fantasy epic Along with the Gods: The Two Worlds (Parts 1 & 2) as a standout performer, demonstrating the ongoing

ability of premium Korean titles to drive significant viewership impact when carefully acquired, integrated into line-ups, and marketed.

SPORT Sport continues to dominate audience loyalty metrics. According to Kou Serey Ratha, content and acquisition manager at Bayon Media High System (Cambodia), local sports – particularly Kun Khmer and soccer – consistently rank among the network’s highest-rated programmes, underscoring their sustained ability to drive engagement. Zooming out (and despite steep drops in some markets), there seems to be nothing like a high-value international sports property to break open corporate purse-strings. In Indonesia, the latest three-year cycle of multi-platform Premier League rights are rumoured to have sold for US$60 million. In Thailand, domestic club football rights went to Jasmine International (JAS) and domestic telco Advanced Info Service (AIS) in a four-season deal worth a total THB 2 billion/US$54 million.

19

buyerspoll

What are the most important factors in acquisition decisions?

Will buyers acquire more or less non-Asian content for the rest of 2025 and 2026 than they did in previous years?

Marketing potential 39%

Budget / price point 78%

Ratings / viewership track record 22%

Regional relevance 19%

Genre appeal 50%

Cast / star power 42% Ratings / viewership track record 22%

Rights flexibility 19%

Awards/festival recognition 6% Localisation (dubbing/ subtitling) 6%

Market fit 5%

We’re hoping for more cross-region collaborative opportunities to strengthen the industry.”

Kevin Foo, Chief Operating Officer, Media Prima (Malaysia)

Selective acquisitions

Even so, the success of Thai BL content highlights the

Kevin Foo, Media Prima

Mariani Abdullah, DM Don Square Entertainment

growth potential of niche genres.

As Mediaplex International CEO Joe Suteestarpon observes, “Thai BL dramas have been stand-

Redian Tandiana, ANTV

out performers for us this year,” underscoring both their domestic dominance and increasing international appeal.

RELIGION In Malaysia, Broken Heaven (Bidaah), a drama produced by Rumah Karya Citra, has emerged as a top-performing title. Centered on

That’s after JAS paid US$560 million/THB19.2 billion for six Premier League

a young woman’s infiltration of a religious sect to save her devout moth-

seasons from 2025/26 to 2030/31 for Thailand, Cambodia and Laos,

er, the series reflects audience engagement with religion-driven narra-

including live broadcasts, reruns and highlights.

tives and highlights the genre’s relevance in regional content strategies.

FAMILY DRAMA Family dramas are gaining prominence in acquisition

Religious practices also underpin a rising slate of original family dramas.

strategies. According to Mariani Abdullah, head of acquisition and

KIDS By many accounts, the TV kids’ content sector is in serious decline,

distribution at Brunei’s DM Don Square Entertainment, the strong focus on

with production pipelines thinning and local output under pressure.

this genre reflects audience demand for stories that resonate with real-life

Buyers are increasingly selective, placing the greatest emphasis on story

experiences and everyday realities.

quality, casting and market buzz as differentiators. With key exceptions,

BOYS’ LOVE (BL) For buyers and platforms, the message is clear: niche

established international brands continue to dominate acquisition deci-

genres are no longer peripheral. As competition intensifies, integrating

sions, reinforcing the challenges faced by original and locally produced

Boys’ Love (BL) and other passion-driven formats into acquisition portfo-

kids’ programming.

lios offers a path to audience diversification, brand differentiation, and

WHAT FACTORS MOST INFLUENCE YOUR DECISIONS? Asked about the

incremental monetisation beyond traditional content verticals.

factors that most influence acquisition decisions, respondents consistently

Thailand remains the regional leader in BL production, though some industry players caution that the segment may be approaching market saturation at home and has limited appeal in more conservative markets.

20

cited budget and price points, underscoring the continued importance of cost-efficiency in content strategies.

Accurate assessment of market relevance and audience demand

contentasia september 2025

How is streaming/OTT landscape influencing acquisition strategies going into 2026?

How has streaming impacted overall release and scheduling strategies?

Not relevant 11%

Prioritising on-demand, binge-friendly formats 14%

Create separate strategies for digital and linear platforms 50%

Adjust release timing to optimise for OTT 44%

Linear schedules remain largely unchanged 31%

Gary Tsai, Far EasTone Telecom

Kou Serey Ratha, Bayon Media High System Cambodia

Artine S. Utomo, RTV Indonesia

are also identified as critical acquisition drivers.

Indonesia’s biggest challenges are the digital content era and economic pressures...coproductions and flexible deals with distributors help us continue delivering high-quality content.”

Artine S. Utomo, CEO, RTV Indonesia

Content must align with local viewer preferences, notes Artine S. Utomo, CEO of Indonesia’s free-TV network RTV, echoing a broader industry Hanes Chin, Far EasTone Telecom

consensus.

Buyers – including Redian Tandiana, acquisition manager of ANTV Indonesia, and Taiwan’s Bill

Satuvisi Abadi, which focuses on family-friendly programming for free-toair and digital platforms in Indonesia.

In summary, while cost remains the primary filter, acquisition decisions are increasingly shaped by a balanced evaluation of audience align-

Sung of Cai Chang International Taiwan – emphasise flexibility in manag-

ment, rights flexibility, and proven market performance.

ing rights and strong marketing potential.

STREAMING’S IMPACT IS... The 2026 outlook shows streaming continuing

Gary Tsai, Taiwan’s Far EasTone Telecom COO, Digital Entertainment

to reshape acquisition and scheduling strategies. Fourteen respondents

Service, and Gala Television’s manager Wenchia Shih, highlight the role

say they are prioritising exclusive or early release windows, while nine

of cast and star power. Ratings performance and localisation oppor-

are leaning toward digital-first titles, and eight report shifting budgets

tunities are emphasised by Shakuntala Chandra, APAC lead of Indian

from linear to digital. Although 13 buyers say their approach remains

content creator, aggregator and distributor Shemaroo Entertainment,

unchanged, the overall trend points to a steady tilt toward digital-driven

and Andri Detulong, head of acquisition of Jakarta-based distributor PT

acquisitions.

21

buyerspoll

Original Content Output: 2026 vs 2025: Are platforms producing more or less?

Spending on original content: 2026 vs 2025: Will budgets rise, fall or stay steady?

Less 16%

Less 16%

More 35%

The shift from FTA to OTT for viewers is a defining structural change.”

About the same 66%

More 19%

About the same 48%

audiences choose to watch online”.

In Indonesia, ANTV’s Tandiana adds that audiences increasingly expect content in bingeable formats, a view echoed by Gary Tsai of Far EasTone, whose friDay

Joe Suteestarpon, Mediaplex International

Touch Bopha, Global PNN

Video platform integrates streaming with Shakuntala Chandra, Shemaroo Entertainment

telecom data to refine programming strategies. Touch Bopha, director of Global PNN Holdings in Cambodia, says her team is also reshaping its approach, noting that OTT platforms have become an increasingly important

Joe Suteestarpon, CEO, Mediaplex International (Thailand)

space for testing new content and reaching younger viewers.

Not all feel the impact equally: DM Don Square Entertainment’s Abdullah says the OTT shift

In scheduling, streaming’s influence is being felt across the board – whether or not companies operate their own OTT platforms.

Andri Detulong, PT Satuvisi Abadi

Media Prima, which operates the country’s largest free-TV services (58%

Krissada Trishnananda, Kylo30 Project

remains “not relevant” to current operations.

ORIGINAL CONTENT OUTLOOK Most content

execs anticipate near-term stability in original production and spending.

audience share in Jan-March 2025) along with digital platform Tonton,

Close to 60% expect the same level of original content in 2026 as in 2025,

now treats OTT as a strategic pillar, with distinct planning from its free-to-

while 17% say there will be increases and 14% foresee a decline.

air channels.

Growth is expected from companies such as Bayon Media High Sys-

Shemaroo Entertainment’s Chandra pointed to streaming service Sh-

tem, ANTV and Mediaplex, while Cai Chang International and Thailand

emarooMe, which has grown into a multi-genre, multilingual offering. She

Kylo30 Project’s advisor/media specialist, Krissada Trishnananda, fore-

notes that release schedules are now “closely aligned to when and how

casts a scale back. Global PNN’s Bopha cites the challenges of sustain-

NOTES: The information was gathered from 36 acquisition executives from 33 companies, operating across a wide range of genres in 10 countries (Brunei, Cambodia, Indonesia, Japan, Malaysia, Philippines, Singapore, Taiwan, Thailand, and Turkey), as well as regional programmers and operators across video broadcast and streaming platforms in Asia. 12 free-TV broadcasters participated, along with 11 programming/distributor companies, six streaming/online/on-demand services, four pay-TV platforms and three pay-TV channels. The survey was conducted between 15 July and 5 August 2025.

22

contentasia september 2025

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buyerspoll

In the past 12 months, particularly in the freeto-air landscape, we’ve experienced a noticeable decline in advertising revenue… This has pushed us to be more selective in curating content.”

The different preferences of TV and online viewers remain an ongoing challenge.”

Kou Serey Ratha, Content & Acquisition Manager, Bayon Media High System (Cambodia)

There is now a stronger emphasis on family dramas, as they better reflect real-life experiences and everyday realities.”

Redian Tandiana, Acquisition Manager, ANTV (Indonesia)

ing original production in a highly competitive environment.

Most expect budgets to remain flat, with optimism at ANTV and Mediaplex, which plan to raise investments, and caution at Media Prima, which expects to reduce spending despite steady output. Far EasTone Tele-

Mariani Abdullah, Head of Acquisition & Distribution, DM Don Square Entertainment (Brunei)

Paw Patrol Air Rescue

com’s director Hanes Chin also points to a conservative stance, citing the need to balance production ambitions with market realities.

curating content, while also requiring greater flexibility in terms and rights

CHALLENGES AND OPPORTUNITIES Content execs flag challenges ranging

negotiations with partners,” he says.

from rising rights costs and the “battle for rights” to platform disruption.

Some see opportunity in programming shifts. DM Don Square Enter-

Mediaplex International’s Suteestarpon describes the ongoing “shift

tainment’s Abdullah highlights the rise of family dramas, while Kou Serey

from FTA (free-to-air) to OTT” as a defining change, while PT Satuvisi Aba-

Ratha of Bayon says balancing TV and online preferences is an ongoing

di’s Detulong notes his team is “now into OTT” when making acquisitions.

challenge.

Cai Chang International’s Bill Sung points to the broader economic cli-

WHAT’S THE OUTLOOK? Cross-border collaboration and co-operation

mate, while RTV’s Utomo cites digital disruption and economic pressures

is a key theme that continues into the year ahead. Media Prima’s Foo

as the biggest challenges.

stresses the importance of cross-border collaboration: “We’re hoping for

“Indonesia’s biggest challenges are the digital content era and eco-

more cross-region collaborative opportunities to strengthen the industry.”

nomic pressures. As viewing habits shift, RTV adapts by investing in unique

Similarly, ANTV’s Tandiana emphasises the need to deepen cooperation

digital content and being more selective in acquisitions and productions.

between rights owners and broadcasters.

Co-productions and flexible deals with distributors help us continue delivering high-quality content,” Utomo says.

Also in Indonesia, ANTV’s Tandiana highlights the financial squeeze facing free-to-air channels. “In the past 12 months, particularly in the free-

Most buyers expect their acquisitions of non-Asian content to remain steady for the next 12 months. Two-thirds (66.7%) say they will acquire about the same amount in 2025 and 2026 as in previous years, while 14% expect to increase non-Asian acquisitions.

to-air landscape, we’ve experienced a noticeable decline in advertising

Another 14% anticipate acquiring less non-Asian content, citing stron-

revenue. This trend has affected almost all FTA broadcasters in Indonesia.

ger emphasis on regional programming and local audience demand.

As a result, the key challenge has been acquiring high-quality content

As one buyer says: “We’re only choosing non-Asian titles with fresh stories

with more limited budgets. This has pushed us to be more selective in

and strong differentiation from local offerings”.

24

contentasia september 2025

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Johnny Tri Nguyen in The Last Secret of the First Emperor (Hộ Linh Tráng Sĩ - Bí Ẩn Mộ Vua Đinh)

Wins and Woes For every TV woe in Vietnam at the moment, the film industry seems to have multiple wins.

Martial arts star Johnny Trí Nguyễn is just one of them.

Since early 2023, Vietnam’s Decree 71 has pretty much decimated the

with renewed confidence and high hopes for another leap forward,” the

international/regional TV industry’s interest in the country. Higher operat-

news platform says.

ing costs, driven by tighter regulation and oversight, coupled with low

The next spark of life is Korea-Vietnam joint project – Saigon Oppa

yields... you get the picture. Players scaled back, paused expansion

– scheduled to shoot in Vietnam and Korea in 2026. The film was show-

plans, or slammed their laptops shut and exited the market entirely. Even

cased in Seoul in August as part of the “Vietnam–Korea Cultural Industry

French giant, Canal+, which has doggedly soldiered on in Vietnam since

Cooperation Forum”, and billed as “a deepening of cultural and

what seems like the beginning of pay-TV time, is now reconsidering its

creative industry ties between the two countries”. The parties in-

presence. “The Vietnam business is being closely assessed as its perfor-

volved include Korea’s Film Line and Vietnam’s BHD.

mance has been meaningfully affected by the market environment,” the company said in July.

Written and directed by Korea’s Park Gyu-tae (6/45: Lottery Couple), Saigon Oppa is about two Vietnamese husbands who reluctantly travel

The domestic film industry, on the other hand...

to Seoul in search of their wives, who go to Seoul to a K-pop concert and

Not least of the bright and shiny signals coming out of this sector is new,

to chase after their favourite Korean idols. Their misadventures gradually

young-ish leadership in key government positions. At the end of February this year, the 48-year-old Lê Hải Bình was appointed Deputy Minister of

unfold into a tale about love, kindness and mutual understanding.

BHD describes Saigon Oppa as a “touching exploration of cultural con-

Culture, Sports and Tourism. He assumes the role after years in various dip-

nection and emotional discovery, offering audiences in both Vietnam

lomatic and foreign affairs positions.

and Korea a fresh, heartfelt perspective on relationships, identity, and

About three months after his appointment was announced, Lê hosted a delegation from the Motion Picture Association of America (MPAA).

shared humanity”.

Vietnam’s other Korean collaborations this year are Mang Mẹ Đi Bộ

According to post-meeting notes distributed by the Ministry, Lê said Viet-

(Leaving Mom), Điều Ước Cuối Cùng (The Final Wish) and Cải Mả (Re-

nam’s current legal framework for the film industry was “very open, creat-

burial). BHD vice chair, Ngô Bích Hạnh, says the success of Mang Mẹ Đi Bộ

ing favourable conditions for content producers”.

reflects a “new level of cooperation between Vietnam and South Korea,

In the same session, he said there was still a “small amount of content that is not suitable for the conditions and culture of Vietnam, so some content still needs to be strictly managed”. But he emphasised the end

characterised by closer collaboration, greater equality, and a shared commitment to showcasing the cultures of both nations”.

Another 2026 highlight is epic martial arts feature, The Last Secret of the

of an era that was characterised by the viewpoint that “if you can’t

First Emperor (Hộ Linh Tráng Sĩ - Bí Ẩn Mộ Vua Đinh), directed by Nguyen

manage, then ban”.

Phan Quang Binh (Song of The Stork) and produced/distributed by BHD

That was all part of a vibrant six months for Vietnamese filmmakers. And

– Vietnam Media. The film, starring heartthrob Johnny Trí Nguyễn (who is

that’s official, according to Viet Nam News, the state-run news organisa-

also the film’s martial arts director), follows seven warriors on a mission

tion. The English-language daily reports a record-breaking first half 2025,

to mislead hostile forces. Their true objective: to protect the spirit of the

with eight local films breaking the VND100 billion/US$3.9 million revenue

country and ensure that the tomb of Vietnam’s first Emperor remains an

mark. As a result, local filmmakers “are entering the latter half of the year

eternal mystery.

26

contentasia september 2025

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