U.S streaming giant Netflix is ramping up its mobile-only subscription plans in Southeast Asia and expanding local content, senior executives told ...
FILE PHOTO: A smartphone with the Netflix logo is seen on a keyboard in front of displayed"Streaming service" words in this illustration taken Mar 24, 2020. SINGAPORE: US streaming giant Netflix is ramping up its mobile-only subscription plans in Southeast Asia and expanding local content, senior executives told Reuters, just as arch-rival Disney arrives in the fast-growing market.
Southeast Asia is estimated to have generated US$600 million in overall subscription music and video revenue in 2019, according to a study by Google, Temasek Holdings and Bain & Co - but that's set to explode to an annual US$3 billion by 2025, the study said. FILE PHOTO: Traffic moves on a road past hoardings of Netflix television series"Sacred Games" in Mumbai, India, Jul 11, 2018. Repeated coronavirus lockdowns across Southeast Asia have also increased the appetite for content streaming at home across the region. Consultancy Media Partners Asia estimates that Southeast Asia video streaming service subscribers will reach 14.7 million in all by the end of 2020.
The company faces competition in the region not just from Disney+, a distant, but ambitious, global number two in the industry. Other regional rivals include Hong Kong video service Viu, popular for its Korean dramas, as well as Chinese tech giant Tencent's WeTV, which in June bought the assets of Malaysian streaming platform Iflix.
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