U.S 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.
FILE PHOTO: Traffic moves on a road past hoardings of Netflix television series"Sacred Games" in Mumbai, India, July 11, 2018. REUTERS/Francis Mascarenhas
Southeast Asia is estimated to have generated $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 $3 billion by 2025, the study said. A Netflix spokeswoman told Reuters that the firm “has well over 1 million subscribers in multiple Southeast Asian countries”, but declined to provide details.
The company faces competition in the region not just from Disney+, a distant, but ambitious, global no. 2 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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