Vietnam’s Emerging Trends: A Glimpse into the Future of Pay TV

Discovering Market Dynamics

Vietnam’s Pay TV subscription market has undergone a remarkable transformation, boasting 16.9 million subscribers and a revenue of 4,500 billion VND in Q2 2022—a substantial 9.5% increase from the previous year, as per Vietnam’s Ministry of Information and Communications (MIC) report.

Shifting Market Dynamics

The Authority of Broadcasting and Electronic Information’s latest report indicates signs of saturation in traditional television broadcasting services, leading to a stall in both subscriber and revenue figures. In stark contrast, internet-based television transmission services, particularly OTT subscriptions, are emerging as the new frontier with significant growth potential. Pay television revenue for in Vietnam for 2022 was estimated at $404.3 million, showing a modest increase from the previous year. Meanwhile, OTT TV services are expected to soar to $32.1 million, reflecting a remarkable jump from $8.7 million in 2021.

Regulatory Equality

The legal and regulatory landscape is set for a transformation with the introduction of Decree No.71/2022/ND-CP that took effect in January 2023. This decree aims to create a level playing field between domestic and foreign Pay TV subscription service providers. Its mandate ensures that transboundary platforms providing OTT TV services adhere to the same licensing and operational regulations as their local counterparts. The government emphasized the objective of promoting impartiality and eliminating biases that may favor foreign OTT providers due to regulatory gaps.

Industry Competition and Collaboration

With 38 licensed firms providing pay television services, including foreign OTT giants like Netflix, AppleTV, and WeTV, the competition is heating up. The pressure on local OTT subscription service providers from their foreign counterparts is evident, but industry owners see it as an opportunity. They anticipate foreign OTT subscription service platforms investing in the production of Vietnamese content within the country, presenting lucrative opportunities for local producers. They also call for a comprehensive market development plan to prevent service monopolies and maintain effective market control.

Broadband’s Role in the Evolution

Vietnam’s broadband landscape plays a pivotal role in shaping the future of Pay TV subscription market. According to World Bank data, fixed broadband subscriptions surged to 21.65 per 100 people in 2022. This increased broadband penetration catalyzes OTT services’ growth, currently holding a 20% market share with 3.6 million subscribers and $8.3 million in revenue. A report indicates Vietnam’s prominence in the Southeast Asian market, with 36 million OTT users out of 180 million, projecting a market worth $54 billion by 2026.

Optimistic Horizons

Despite the challenges and intensified competition, the future of Pay TV in Vietnam is teeming with potential.The confluence of regulatory measures, market development plans, and expanding broadband access paints an optimistic picture. The collaboration between local and foreign OTT subscription service providers, coupled with the rising demand for quality content, positions the industry for sustained growth. As Vietnam positions itself as a key player in the region’s media landscape, the journey ahead promises to be dynamic and promising for Pay TV.



  • Sashi Guha

    Sashi brought to bear his expertise, in end to end sales cycle, new segment/market entry, planning and strategy development, on Magnaquest’s business development initiatives for the past 7 years. He has developed territories of interest for the company while handling enterprise solutions and service, Business Intelligence/Big data analysis, BPM & workflow solutions. He is a trained Lean Six Sigma czar.