Southeast Asia is one of the world’s fastest-growing regions, with a population expected to reach 1.7 billion by 2022.
2022 was the year of economical growth across the globe. Many central banks around the world began unwinding the fiscal and monetary support they dialed up during the COVID-19 pandemic as businesses reopened and the labor market tightened. However, the Russia and Ukraine crisis made all this uncertainty across the globe.
In Indonesia, the OTT market is anticipated to experience intensive growth over the past years due to the increasing popularity of smartphones and the internet, which have dramatically altered the distribution of content in the country. The increase in OTT subscriptions improves the localization efforts in the country, which focus on creating local original content, maintaining competitive price points, and building local partnerships. The availability of high-speed internet and smartphone applications has augmented the growth of the OTT market and has contributed to the rise of OTT platforms in Indonesia.
The COVID-19 pandemic has turned out to be a boom for E-commerce in Southeast Asia, including Indonesia with an increase in transactions by 23 %, and gross merchandise value projected at the US $32 billion. The pandemic has also prompted many micro, small and medium businesses to shift to online platforms. The number of brands using online platforms has risen to 10.2 million during the pandemic.