The Asia Video Summit 2024, a premier conference for the video industry, convened in Hong Kong from March 13 to 14, as part of the HK Entertainment Expo. The event provided a comprehensive overview of the state of the video landscape in Asia, addressing emerging trends, challenges, and opportunities reshaping the industry.

Vivek Couto, Executive Director of Media Partners Asia, underscored the transformative impact of scale on the video ecosystem, highlighting the dominance of global digital giants in the Asia-Pacific region. With total video and screen revenues amounting to US$24.4 billion in 2023, the industry witnessed a significant shift in dynamics and market players.

According to a press release, a key highlight of the summit was the growing demand for premium Asian content worldwide, as emphasized by Couto. With 1.4 billion active unique users consuming nearly 14 billion hours of Asian content globally in 2023, there is a burgeoning appetite for diverse narratives and cultural offerings from the region. Korean, Anime and Chinese content emerged as top contenders, with Chinese short-form drama poised for further growth.

Karen Fu Binxing, CEO of Huace Group, expressed optimism about the rising prominence of Chinese content on the international stage, signaling a strategic focus on international collaborations. Fu also underscored the unstoppable influence of AI in reshaping production and broadcasting trends, echoing sentiments shared by other industry leaders.

While AI presents promising opportunities for innovation and efficiency, concerns about rights protection and piracy persist. Wang Yangbin, CEO of Vobile, emphasized the importance of safeguarding intellectual property in the face of evolving technological landscapes. Michael Kwan, Senior IP Enforcement Advisor at TVB, highlighted the dual-edged nature of AI, noting its potential for both piracy and anti-piracy efforts.

Throughout the summit, discussions revolved around the strategic use of technology to drive business growth and audience engagement. Kelvin Yau, President of iQiyi’s APAC and Overseas Marketing Department, highlighted the role of AI in social media promotion and audience engagement, emphasizing the need for sustained adaptation to evolving consumer behaviors.

James Gibbons, President of Warner Bros. Discovery Asia Pacific, stressed the imperative of balancing growth and profitability in the streaming landscape. Addressing challenges such as advertising revenue disparities, Gibbons called for collaborative efforts to ensure the sustainability of premium video environments.

As the industry navigates through converging linear and streaming services, stakeholders emphasize the importance of content curation, aggregation, and audience-centric approaches. Avi Himatsinghani, Founder & CEO of Rewind Networks, highlighted the need for reinvention and narrative innovation to stay relevant in a rapidly evolving landscape.

Against the backdrop of rationalization and piracy challenges, industry players underscored the importance of carving out sustainable business models and combating piracy collectively. Mike Kerr, Managing Director of Asia at beIN Media Group, emphasized the value of sports content and the need for strategic partnerships to drive growth.

In concluding remarks, Alexandre Muller, Managing Director of TV5MONDE APAC, emphasized the significance of catering to local audience preferences and charting a distinct path for Asia’s video industry. With the region emerging as a global content powerhouse, stakeholders are urged to embrace innovation, collaboration, and audience-centric strategies to unlock the full potential of Asia’s vibrant video landscape.

The Asia Video Summit 2024 was proudly sponsored by Lead Sponsor Create Hong Kong (CreateHK) of the Government of the Hong Kong Special Administrative Region, along with Gold Sponsors AsiaSat, Bango, InvestHK, Publica, TV5Monde, Vobile, and Warner Bros. Discovery, Silver Sponsors France24 and Paramount, and Bronze Sponsor A+E Networks.