Max Launches Successfully in Southeast Asia, But Netflix Still Dominates the Region
Max's long-awaited standalone launch in Southeast Asia proved to be a success, with Warner Bros. Discovery's streamer capturing 1.4 million subscribers in the region in Q4 2024, according to new research.
In The Southeast Asia Online Video Consumer Insights & Analytics Report published by Singapore-based media consultancy Media Partners Asia (MPA), Max entered five Southeast Asian markets — Thailand, Malaysia, Indonesia, Singapore and the Philippines — in November 2024 and captured 26 percent of Q4 net customer additions for streaming services in SEA. Max launched with key titles such as House of the Dragon, The Big Bang Theory and Friends and its success was driven by a strong performance in Thailand, according to the report. MPA predicts that Max will continue to see increased engagement and subscriber growth in 2025 as the service rolls out new originals, most notably the Thailand-set third season of HBO's wildly successful The White Lotus, and as more and more WBD pay-TV customers activate the Max app in the key SEA markets.
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Despite a strong start for Max, the streamer has a long way to go to get near Netflix, the dominant player in SEA. MPA says that Netflix captured 48 percent of Q4 2024 net customer additions in SEA, fuelled by a strong content slate, including Korean and U.S. films and series, as well as a rapidly expanding library of local original productions. As it has with bigger Asian markets like Japan, South Korea and India, Netflix has committed to increasing its production footprint in SEA markets and announced 14 original productions for Indonesia and Thailand in 2025. The report states that Netflix ended the calendar year 2024 with just less than 12 million customers combined across SEA's 5 markets.
The report states that Netflix leads the SEA category with a commanding 52 percent viewership share and 42 percent revenue share. However, the MPA adds that streaming competition is growing, particularly in Indonesia and Thailand, from local players like Vidio, which led the Indonesia market with 4.7 million subscribers in 2024, and regional players like Viu which ended 2024 with 9.5 million customers in SEA. Disney+ continues to maintain a robust 10 percent category revenue share in SEA as it has repriced and repackaged its service, the MPA adds.
The MPA says that Q4 2024 was a period of significant expansion for streamers generally, with 3.2 million net new SVOD subscriptions added, bringing the regional total to 53.6 million in SEA, a 12 percent year-on-year increase. Growth for streaming was fuelled by Indonesia, the Philippines and Malaysia, in particular. The report states that SVOD revenues (that includes subscriptions and advertising) surged 14 percent in Q4 2024 to hit $1.8 billion, with Indonesia ($552 million) leading the way, followed by Thailand ($473 million).
'Southeast Asia's streaming landscape is evolving rapidly,' said Vivek Couto, executive director of MPA in a statement. '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.'
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Wood says it had a 'similar feel' to the 'that's the plan' scene at breakfast, confirming their love for each other. It also involved an intimate sex scene. 'We designed the whole journey, even down to the fact that Chelsea gets on Rick in the first [love] scene. Then in the last episode, it was Rick picking Chelsea up. It was so, so delicate,' Wood recalls. Goggins echoes her. While the first love scene showed their connection, 'the last one was two people who were free. It was this very long, suspended moment of these two people looking at each other. It was so powerful.' With that, he picks up my recorder and yells a message for creator Mike White: 'Fuck you, Mike! We want a director's cut!' But back to other topics. Goggins is the 'most enthusiastic man ever,' Wood says — something I didn't need to hear. When he came in for the 10 a.m. photoshoot, his energy was contagious. 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It felt misogynistic. It felt like the punch line was a woman's appearance, which is just not funny. It's not cool.' Goggins, picking up my microphone: 'Here it is everybody. Dude in the U.K., we'll get to that too.' At the time, Goggins, half-asleep and heading into makeup to become the Ghoul, shared the parody clip and complimented Jon Hamm's impression of him. Hours later, he saw Wood's response, felt awful and deleted his post. 'Then the next day, I made a vicious swipe against my friend? I've been posting for 14 fucking years, and if I'm gonna say something, but I'm gonna say it to your face,' he says. 'I don't use social media in any way, and I'm not a mean guy.' He picks up my recorder again: 'That's the story.' But earlier, he mentioned the 'dude in the U.K.,' referencing the Times' story, which was published 48 hours before we sit down, with the headline, 'Walton Goggins: Aimee Lou Wood? I'm not gonna have that conversation.' First, he wants to make one thing clear about his relationship with Wood. 'There is no feud. I adore, I love this woman madly, and she is so important to me,' he says, getting choked up. Goggins turns to look at Wood. 'This is Goldie Hawn. This is Meg Ryan. She can do anything, and she will. You watch what the next 20 years of her experience will be. I'll be on an island, I think Greece. But she's special. There is no feud. She is love and I know that I am that to her. We care about each other very deeply.' The Times interview wasn't the time for the discussion, he says, first because Wood wasn't there. 'What am I gonna do, speak for both of us? Never.' Goggins says the reporter asked three different times about Wood and had a 'divisive nature.' The last question, he says, compared Goggins' teeth to Wood's, asking if they'd bonded over that. 'What he was insinuating, it was so disgusting. It was so appalling. I was flabbergasted. And I said, 'Fuck mate, wow. 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Long story short, Goggins isn't good with goodbyes. 'When I left 'Justified,' I went up to Tim [Olyphant], and I hugged him and I said, 'I love you, and I hope I see you in rooms for the rest of my life,'' he says. 'I didn't talk to him for almost two years. I've done that with every single thing that I've done.' 'The White Lotus' was no different; in fact, it was painful. In 2004, his wife died by suicide. He spent the next three years traveling and searching for peace. It led him to Thailand, then to Bangkok. When he arrived in Bangkok on set, he realized he was in the exact same place. 'My catharsis in this experience was different than other people's, because of my history in this place. I knew what we had gone through, and I knew how close that we had gotten, and I needed to begin to process saying goodbye to Rick and Chelsea,' Goggins says, beginning to cry. 'And I knew that that was going to take a while for me, so I let her know, this is what I've gotta do. 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