Video content budgets across India, Korea and Southeast Asia grew by 12 percent in 2018 to reach $10 billion, driven by the battle for streaming subscribers, according to a study by Media Partners Asia entitled “Asia Video Content Dynamics.”
Total video content budget spending in India reached $3.6 billion in 2018, an increase of 24 percent over 2017. Laslocky said that "online video accounted for 14 percent of all video content spend in India last year, the highest proportion of all our surveyed markets." The increased investment in India was largely driven by spending on sports rights given the popularity of cricket, particularly the Indian Premier League, which streams on Hotstar, part of Fox's Star India network and now owned by Disney.
"Compared with India, there is more balanced competition between TV majors in Korea, helping foster creative diversity," said the study explaining that Korea’s online video sector "is underweight, due to a thriving TVOD market that captures a large slice of audience time and spend." The study also pointed out that "Netflix is starting to drive growth in Korea’s online video sector however, with an eye on local, regional and global distribution.
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Source: Variety - 🏆 108. / 63 Read more »