Malaysia Entertainment And Media Outlook 2015 -2019 - PwC
Malaysia entertainmentand media outlook2015 -2019www.pwc.com/my
ForewordWelcome to the Malaysian entertainment and media (E&M) outlook2015. This booklet summarises our insights into the key trends anddevelopments across the sector, specific to Malaysia.This publication highlights snapshot of Malaysia’s E&M market. Itis an extract from the 16th annual Global Entertainment and MediaOutlook 2015-2019. The Outlook is a comprehensive online sourcefor global analysis covering both consumer and advertising spenddata, with forecasts and industry trends observations.In many ways Malaysia can be held up as a progressive market froman E&M perspective. Overall the market is growing at a healthy6.1% CAGR through to 2019, driven primarily by a continuing surgein Internet access, both fixed and wireless. Despite this increase in‘access’, we haven’t yet seen a commensurate increase in the shift toDigital, from a consumer or advertising spend perspective. One weare seeing elsewhere globally.We think this represents the significant opportunity in the shortterm; we believe that tapping into this nascent and emerging Digitalmarket will require increased personalisation, continuousinnovation, smart use of insights that your data will provide andestablishing credible distribution channels.We hope you find this publication useful and look forward tosharing our insights further with you.Irvin MenezesTechnology InformationCommunication &Entertainment LeaderPwC Malaysia2Michael GrahamSenior Executive DirectorTelecoms and Media PracticePwC Consulting AssociatesMalaysia entertainment and media outlook 2015-2019
Outlook Snapshot Consumer/enduser & advertisingspendingAbout PwC's 16th annual Globalentertainment and media outlook Internet access Internet advertising TV subscriptions andlicence fees Televisionadvertising Filmedentertainment Video games13 segments Music Magazine publishing54 countries NewspaperpublishingThe Outlook is a comprehensiveonline source for global analysis ofconsumer and advertising spenddata, with like-for-like, five-yearhistorical and forecast data up to2019, across 13 E&M segments in 54countries, including Malaysia.The Outlook is a leading referencefor thousands of executives, not justfrom the E&M sectors. Many fromthe technology, communications,retail and financial services sectors,and some of the largest advertisers inthe world, have also subscribed tothe Outlook.To get insights into our forecasts andindustry trends, take a tour of theOutlook's extensive onlinefunctionality atwww.pwc.com/outlook, and find outwhich subscription option suits youbest. Radio Out-of-homeadvertising Book publishing5 year historic& 5 yearforecast data Business-to-businessSource: PwC Global Entertainment and Media Outlook: 2015-2019www.pwc.com/outlookMalaysia entertainment and media outlook 2015-20193
Content guideForeword41.Market forecast52Internet access73.Consumer spending94.Advertising revenue115.Digital vs non-digital166.Imperatives to succeed for E&M companies17PwC contacts19Malaysia entertainment and media outlook 2015-2019
1. Market forecastMalaysia’s E&M market growth above globalaverageIf we look at the global E&M market growthsize matrix below, Malaysia’s E&M market islocated between the “slow growth” and the fast“up & comers” group due to the presence ofboth mature and emerging segments.Malaysia’s entertainment and media (E&M)industry is expected to experience at aboveaverage global growth rate over the next fiveyears. It is projected to grow at a compoundannual growth rate (CAGR) of 6.1% over 2014to 2019, compared to a CAGR of 5.1% globally.Figure 1: Global E&M markets based on growth and market sizeMatureNext WaveMarket size 2019(11 countries)CAGR(5 countries)3.4%3.4%8.8%2019 market size(US billion)8.9%MalaysiaSlow GrowingUp & Comers(18 countries)(20 countries)2014-2019 CAGRSource: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlookMalaysia entertainment and media outlook 2015-20195
Malaysia’s E&M segment growthAmong the rising E&M segments in Malaysia isInternet access, growing at a rapid rate, with aCAGR of 13.4% over the 2014-2019 period.However, established segments such asadvertising revenue and consumer spendingare expected to grow at a more mature pace,with a CAGR of between 4.0% and 2.3% overthe 2014-2019 7%TV subscriptions and licence feesMagazine publishingFilmed entertainment1.0%0.4%1.3%Book publishingNewspaper publishingTV advertisingRadioBusiness-to-businessVideo gamesOut-of-home advertisingInternet advertisingInternet %Global5.7%12.1%8.8%13.4%12.7%Figure 2: Malaysia’s E&M segment growth (CAGR 2014-2019)Source: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlook6Malaysia entertainment and media outlook 2015-2019
2. Internet accessFixed broadband take-up in Malaysia has beenboosted by completion of the MYR11.3billion(US 3.5billion) High Speed Broadband(HSBB) network: a fibre-to-the-home/building(FTTH/B), open-access network, built as ajoint venture between Telekom Malaysia andthe national government.Malaysia had 747,000 FTTH/B subscribers atJune 2014. Around 90% were served byTelekom Malaysia, which is, however, steadilylosing market share to competitors on theHSBB.Going forward, the government willcollaborate with Telekom Malaysia to deploythe access and domestic core networks todeliver an end-to-end HSBB infrastructureunder HSBB2 and sub urban broadband(SUBB). The total cost of the HSBB2investment for a period of ten years is RM1.8billion while SUBB deployment for a period often years is RM1.6 billion.As a result of improving infrastructure andservices, fixed broadband access revenue is setto increase from US 941million toUS 1.20billion over the 2014-2019 forecastperiod. The number of fixed broadbandhouseholds will rise from 3.1million to3.8millon (52.4% fixed broadband penetrationin 2019).Malaysia entertainment and media outlook 2015-2019The mobile Internet access market has grownrapidly through widespread deployment of 3Gand (since 2013) LTE networks, and rapidadoption of smartphones. These trends willhelp the number of mobile Internet subscribersto increase to 25.1million in 2019, from16.3millon in 2014. Over the forecast period,mobile Internet access revenue will grow fromUS 1.10billion to US 2.62billion at a CAGR of19.0%.Figure 3: Malaysia’s Internet access spendinggrowth (CAGR 2014 – 2019)Mobile internet20CAGR 2014-2019Internet driving entertainmentand media growth15Internet access10Fixed broadband50012345Total spending in 2019 (US billion)Source: PwC Global Entertainment and Media Outlook: 2015-2019,www.pwc.com/outlook7
3. Consumer spendingMalaysia E&M consumerspending below global averagegrowthMalaysia’s E&M consumerspending is growing marginallyat a CAGR of 2.3% over the 20142019 period, and is slightly belowglobal average growth.Figure 4: Malaysia consumer spending growth (CAGR 2014-2019)2014-2019CAGR 2.3%20147.4%3,5403,96920197.4%Key growth segments withinconsumer spending are businessto-business, video games andnewspaper publishing.Meanwhile, the major consumerspending items in 2014 to 2019are TV subscriptions, videogames and filmed entertainment.3.7%2.0%1.1%-0.7%-1.4%MusicFilmed entertainmentTV subscriptions & license feeBook publishingMagazine publishingNewspaper publishingBusiness-to-businessVideo games-3.0%Source: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlook8Malaysia entertainment and media outlook 2015-2019
Growth segmentsBusiness-to-businessMalaysia’s total B2B revenue was US 227million in 2014, up 9.1% from 2013. Total B2Brevenue is forecast to grow at a CAGR of 7.4%,reaching US 324 million by 2019.Total business information revenue is thelargest B2B sub-component, accounting for95% of total B2B revenue in 2014. With aforecast CAGR of 7.4%, total businessinformation revenue will be worth US 307million by 2019.Malaysia was ranked the best country out of theemerging and developing Asian nations in theWorld Economic Forum GlobalCompetitiveness Report 2014. Enhancedcompetitiveness is a reflection of the country’ssuccess in positioning itself as a leading centreof global Islamic finance, and in achievingefficiency in the goods and service markets. Inaddition, the business information segment willbenefit from Malaysia’s 8.4% CAGR in nominalGDP throughout the forecast period.Malaysia entertainment and media outlook 2015-2019The Kuala Lumpur Convention Centre, with22,659 square metres of exhibition space,announced in June 2014 ten new events for2014/2016. With increased international andnational demand, the Centre is looking to hostlarger events in the future and will create anadditional 12,500 square metres of space in2018.2014-2019CAGR 7.4%201422732420199
Large segmentsTV subscriptionsFilmed entertainmentAlthough competition in the Malaysiansubscription TV market is increasing,subscription TV penetration will remain fairlysteady at 62.0% in 2019, from 62.1% in 2014.IPTV will begin to establish itself but satellitewill continue to dominate the sector with3.9mn satellite TV households at the end of2019, compared with 216,000 IPTVhouseholds.With strong competition, TV subscriptionrevenue will struggle to expand: it is forecast topeak at US 977 million in 2015 before fallingback to US 936 million in 2019. This marketwill face difficulties including lower consumerspending, increased taxation and a reduction insubsidies.The Malaysian Communications andMultimedia Commission (MCMC) in January2014 selected Puncak Semangat Sdn Bhd as thesuccessful bidder to build, operate and managethe infrastructure for digital terrestrial TVbroadcast (DTTB) services in Malaysia. Thefirst DTTB rollout is expected to be completedand implemented by 2017, starting in a few testareas, offering a more compelling free-to-air(FTA) DTTB option and providing morecompetition to subscription TV.Malaysia’s total filmed entertainment revenuewill be worth US 765 million by 2019, downfrom US 859 million in 2014, a CAGR of-1.4%.Box office revenue will rise by a CAGR of 2.5%over the forecast period to US 222 million.Malaysia’s filmed entertainment market hashad to contend with a strict regulatoryenvironment and a tax of 25% on exhibitors,combined with strict censorship.FINAS, Malaysia’s National Film DevelopmentCorporation, is beginning to offer generous taxrebates to local and international filmsshooting in the country. The opening of thePinewood Iskandar Malaysia Studios in 2014underlines the concerted attempt to attractinward investment through foreign filmproduction.Total physical home video revenue (comprisingboth rentals and sell-through revenue)accounted for 71.6% of total filmedentertainment revenue in 2014. It will decreaseover the next five years from US 587 million in2014 to US 485 million in 2019, a CAGR of-3.8%.2014-2019CAGR -0.7%2014109712014-2019CAGR -1.3%936201920148267652019Malaysia entertainment and media outlook 2015-2019
4. Advertising revenueNewspaper advertising to remain dominantMalaysia’s advertising revenue is projected toexperience stable growth at CAGR of 4.0%over the 2014-2019 period, with limitedchanges in the share of total advertisingexpenditure Newspaper advertising isexpected to remain the dominant platformover the next five years, followed by television.B2B and internet advertising are closecontenders for third place in the years up to2019, with a forecasted CAGR of 6.4% and12.7% respectively over the period.Figure 5: Malaysia advertising spend by platform* (share of total spending)2014-2019CAGR: 4.0%2014 Internetadvertising** Business toBusiness Radio2019 Others5% Others Internetadvertising**6% Business toBusiness6%8%5%7%5% Radio19%6%55%59%19% Television Newspaper Television Newspaper* Each advertising segment only includes traditional advertising revenues.** All digital advertising revenues, across all segments, are aggregated in “Internet advertising”.Source: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlookMalaysia entertainment and media outlook 2015-201911
Advertising at a glanceFigure 6: Malaysia’s total TV advertising spending (US 412423434446201420152016201720182019CAGR* (%)Total TV advertisingMultichannel TV advertisingTerrestrial TV advertising4.4 Total annual TV advertising revenueis expected to grow at a CAGR of4.4%, between 2014 – 2019. Multichannel advertising revenueswill see considerable growth over theperiod, with a CAGR of 11.1%, risingto US 105 million in 2019. Terrestrial advertising is forecastedto grow more moderately at a CAGRof 2.7%. Online TV advertising is still smallbut is expected to grow at a CAGR of58.5%.* Forecasts are built around factors likely tohave an impact on future trends. They includeeconomic, demographic, behavioural,technological, competitive and governmentlegislation.11.12.7Source: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlook12Malaysia entertainment and media outlook 2015-2019
Advertising at a glance (cont’d)Figure 7: Malaysia’s share of TV advertising spending2014US 454 million2014-2019CAGR (%)4.42019US 564 million2%14%19%79%86% Terrestrial advertising still dominatesthe advertising landscape in 2019,with 79% market share. Despite higher growth, multichannelshare of TV advertising will only riseto 19%, up from 14% in 2014. Online TV advertising is onlyexpected to take up 2% of TVadvertising spending in 2019.MultichannelTerrestrialOnlineSource: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlookThis section includes revenues only from broadcastTV viewed online on broadcaster-owned websites,and excludes TV content viewed on sites not ownedby broadcasters (such as YouTube, which isincluded under video internet advertising).Figure 8: Malaysia’s total out-of-home spending (US million)Physical OOHDigital OOH66706867172331201420152016CAGR (%)7172394960201720182019 Malaysia’s OOH advertising revenueis forecasted to grow at a CAGR of10%. Physical OOH spending growth,including outdoor billboard, isforecasted to be minimal over thenext 5 years. Digital OOH advertising revenue isexpected to rise from US 17 millionin 2014 to US 60 million in 2019,accounting for 45% of the segment’stotal revenue at the end of theforecast period.10Source: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlookMalaysia entertainment and media outlook 2015-201913
Advertising at a glance (cont’d)Figure 9: Malaysia’s total newspaper publishing spending (US million)Digital advertisingPrint 0162017371,5651,59720182019CAGR (%)TotalDigital advertising2.415.9 Newspapers have retained thelargest share of the country’sadvertising market. Total newspaper revenue isforecasted to grow at a CAGR of2.4% between 2014 and 2019. Print newspaper advertisingrevenue is expected to rise fromUS 1,436 million in 2014 toUS 1,597 million in 2019,accounting for 98% of thesegment’s total revenue at the endof the forecast period. Digital newspaper advertisingrevenue to grow by 15.9% CAGRover the same period, accountingfor 2% total newspaperadvertising in 2019, up from 1%in 2014.Print advertising2.1Source: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlook14Malaysia entertainment and media outlook 2015-2019
Advertising at a glance (cont’d)Figure 10: Malaysia’s total business-to-business spending (US million)Directory advertisingTrade 019 Malaysia’s B2B revenue isforecasted to grow at a CAGR of6.4%. Directory advertising revenue isexpected to rise from US 57million in 2014 to US 94 millionin 2019 with a CAGR of 10.4%growth between 2014 and 2019. Trade shows revenue forecast togrow by 3.7% CAGR over thesame period.CAGR (%)Total6.4Directory advertising10.4Trade shows3.7Source: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlookFigure 11: Malaysia’s total internet advertising spending (US million)125146167201420152016CAGR (%)189210227201720182019 Malaysia’s internet advertising isforecasted to grow at a CAGR of12.7% between 2014 and 2019.12.7Source: PwC Global Entertainment and Media Outlook: 2015-2019 www.pwc.com/outlookMalaysia entertainment and media outlook 2015-201915
5. Digital vs non-digitalMalaysia’s digital potential remains untappedEven though traditional, non-digital media willcontinue to dominate overall E&M spendingthrough the coming five years, the growth will beconcentrated in digital platforms, with revenuesincreasing at a CAGR of 12.6%. The bulk of therevenues will be from the rise in internet access.Malaysia’s digital consumer spending and presencein the advertising space is small and in its infancy.For example, internet advertising accounts for 5%of total advertising expenditure in 2014 and is onlyexpected to increase to 8% in 2019.Much of Malaysia’s digital potential remainsuntapped despite the growth in internet access andmobile Internet penetration. To harness thissegment and compete effectively in the digitalspace, E&M companies must get connected toconsumers. The explosion in their media choicespropelled by the rise of the internet has putconsumers increasingly in control over theinformation they can access.Figure 12: Malaysia digital and non-digital spendingTotal E&M spend*US billion6US billion3.0Non-digital5Digital (internet access)43Non-digital2.586%2.092%1.52Digital (others)10Advertising 0152016201720182019* Digital spending includes spending on Internet access, consumer spending on digital content and digital advertising spendingSource: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlook16Malaysia entertainment and media outlook 2015-2019
6. Imperatives to succeed for E&M companiesNowadays, consumers see no significantdivide between digital and traditionalmedia: what they want is more flexibility,freedom and convenience in when and howthey consume any kind of content.To harness this growth, E&M companies needto have ability to combine content with a userexperience that is differentiated andcompelling on the consumer’s platform ofchoice. See Figure 13 for details.Figure 13: Driving to succeedContextual awarenessand data responsibilityMaximising the value of contentAddressable advertisingContinue innovating,particularly around theproduct and the overalluser ips bydistribution channelAudiencemeasurementPut mobile (and increasinglyvideo) at the center of theirconsumer offeringsOTT disruptionFour forces reshapingthe advertisinglandscapeReaching the nextfive billion consumersSource: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlookMalaysia entertainment and media outlook 2015-201917
Malaysia: Performance across key segmentsInternetAccess The government aims to extend fixed broadband coverage to 75% of the country’shomes by end 2015 As a result of improving infrastructure and services, fixed broadband accessrevenue is set to increase from US 941 million to US 1.20bn over the 2014-2019forecast period. The number of fixed broadband households will rise from 3.1million to 3.8 million (52.4% fixed broadband penetration in 2019) Valued at US 125 million, Malaysia’s Internet advertising market has almostdoubled in size since 2010 when total Internet advertising stood at US 65 million Malaysia will grow more slowly than the regional average Display takes the largest share of the Internet advertising market in Malaysia,comprising 64.1% of total Internet advertising revenue in 2014. Display isexpected to grow at a CAGR of 10.4% and will continue to be the main Internetadvertising format over the forecast periodOut-of-homeadvertising InternetAdvertising Total out-of-home (OOH) advertising revenue in Malaysia rose from US 62million in 2010 to US 82 million in 2014, an increase of more than 30% It is forecasted to have a CAGR of 10.0% leading to total OOH advertisingrevenue of US 133 million in 2019 Digital OOH (DOOH) advertising revenue will rise at a CAGR of 29.3% fromUS 17 million in 2014 to US 60 million in 2019, accounting for 45.5% of totalrevenue at the end of the forecast period In common with other Southeast Asian markets, both online and mobile gamingare particularly strong in Malaysia Trade shows revenue will grow by a CAGR of 3.7% and account for 18.7% of totalB2B revenue by 2019 The radio market, which is entirely made up of radio advertising, will benefitfrom the country’s strong economic performanceOtherSegmentsSource: PwC Global Entertainment and Media Outlook: 2015-2019, www.pwc.com/outlook18Malaysia entertainment and media outlook 2015-2019
Let’s talkIrvin MenezesTechnology Information Communication& Entertainment LeaderPwC MalaysiaTel: 603 2173 0668irvin.menezes@my.pwc.comMichael GrahamSenior Executive DirectorTelecoms and Media PracticePwC Consulting Associates (M) Sdn BhdTel: 603 2173 0234michael.graham@my.pwc.comAllan TohExecutive DirectorPwC MalaysiaTel: 603 2173 0251allan.toh.@my.pwc.comMalaysia entertainment and media outlook 2015-201919
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Welcome to the Malaysian entertainment and media (E&M) outlook 2015. This booklet summarises our insights into the key trends and developments across the sector, specific to Malaysia. This publication highlights snapshot of Malaysia's E&M market. It is an extract from the 16th annual Global Entertainment and Media Outlook 2015 -2019.
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