Revenue of Netflix APAC 2017-2022
Alongside America’s Netflix and Amazon, Asian video streaming platforms are making a powerful entrance into the subscription video on demand (SVOD) industry. Tencent and iQiyi are the dominant Asian video streaming platforms which have experienced significant success within the Asia-Pacific region. Baidu’s iQiyi has displayed a revenue which has more than tripled from 2016 to 2021. Tencent has echoed iQiyi’s achievements with its own, recording significant increases in its net income from 2010 onwards. Nevertheless, competition with Western companies continues to drive Asian video platforms to constantly develop and adapt their own product. While English remains a key, universal language to provide content in, platforms such as Hong Kong’s Viu boasts services in over ten different languages, thus making it a strong contender within the SVOD industry, appealing to a wider audience.
As the world’s biggest region has become more digitalized and connected, Asian citizens are starting to explore the video streaming possibilities within their region. With more disposable income available to larger shares of the population, many countries in the Asia-Pacific region are expected to show increases in the number of pay-tv subscriptions.