The success of Korean shows “Vincenzo” and “Squid Game” and Japanese anime such as “Attack on Titan” are justifying Netflix’s heavy spending on Asian film and TV content. The streaming giant is for…
The streaming giant is forecast to grow its revenues in the Asia-Pacific region by 24% in the current year as subscriber numbers swell by 20%, according to new research, from Singapore based consultancyThat optimism stands in contrast to investment sentiment in January when Netflix announced its December quarter and 2021 full year dataMedia Partners Asia’ latest note on the company indicates that Netflix could grow APAC revenues by 24% in the current year to December, to $4.1 billion.
Media Partners Asia estimates that Netflix will allocate local content spending of $450 million in Japan, $120 million in Australia and $750 million in Korea. The company, but it has not publicly offered a figure for the current year. “Korean originals and acquisitions had strong travelability and impact in 2021,” said Media Partners Asia, led by “Vincenzo” and “Squid Game.” In 2022, of the ten new titles released through Q1 , 7 Korean dramas rank among the top 12 titles in the Asian territories measured by MPA’s sister company AMPD . This year’s leaders include “All of us Are Dead,” “Our Beloved Summer” and “Juvenile Justice.”
Netflix’s acquired anime has travelability across the region, led by “Black Clover.” Original anime has yet to have significant impact. Some local big ones in Japan don’t travel, but the big ones that do are “Demon Slayer” and “Attack on Titan.” Both series released new episodes through the first quarter of 2022.
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