With the new technological advancements and the continuous changes in the world, economic opportunities in the market for media tend to arise everywhere. Being the most populated continent in the world while being the most ethnically diverse, Asia has the most emerging markets for users in streaming platforms, with the Asia-Pacific region leading as the largest for over-the-top (OTT) video streaming. In 2021 alone, the user base surpassed a staggering 1.1 billion, and projections indicate its continuous significant growth. This, combined with a variety of tastes, technological implementations, and emerging economies, positions Asia as a powerhouse in the global media landscape. In essence, Asia presents a vast and dynamic media market ripe with opportunities for expansion, innovation, and investment owing to its sizable population, cultural diversity, technological growth, and emerging economies.
The most popular streaming platforms in Asia vary depending on the country. Netflix being the main OTT in most Asian countries, including Japan, South Korea, Taiwan and Philippines. In addition, there are a wide range of regional OTTs popular like iQIYI in China, Rakuten Viki in Singapur&Viu in Hong Kong. Or some with even huge market penetration like the Bolywood productions produced in India.
The streaming platforms in Asia offer a wide variety of content, from tv programs and movies to live sports. Netflix, for instance, offer a wide variety of Asian focused content, including corean dramas, Japanese anime and Bolywood productions. iQIYI, in China launches original content and popular tv shows in China, South Corea and Japan. Rakuten Viki, original from Singapore, centered in Corean, Chinese and Taiwanese dramas, like in other local tv programs. Viu, from Hong Kong, offers a wide variety of content from corean dramas, tv Japanese programs and bolywood original productions.
But the opportunity relies on the fact of the rapid and massive growth of internet users that Asia in general is having and the rise of the middle classes, who both turn into consumers, increasing the numbers of consumers by more than a 600% from 2000 to 2010, and considering the amount of population of Asia, it turns into a huge number.
And another great opportunity is the low penetration that in average OTTs have, being really low, 21.5% per country, making it possible for new players to enter the run with the opportunity of being highly profitable easily if being targeted to a single national market.
