Patrick Frater Asia Bureau Chief Global streaming operation Netflix is forecast to spend $1.9 billion on local content in the Asia-Pacific region this year as group revenue from the region accelerates to 12%, according to a new report.
The content investment spending figure represents a 15% hike. Netflix will grow revenues this year by 12% year-on-year to exceed $4 billion compared with 9% growth in 2022, says a new report published on Monday by Media Partners Asia.
According to the Singapore-based research and analysis firm, Netflix’s revenue growth in 2023 will benefit from: a rebound in the lucrative but saturated Australia market, where Netflix’s performance will be gradually bolstered by advertising growth; robust levels of growth in Japan and South Korea, which generate high per user revenues; and material gains and contributions from India, Indonesia, Philippines and Thailand. “The ad tier has seen a slow start in the three APAC markets.
Australia is expected to see greater momentum through 2023, helping boost subscribers and revenues in a market where churn has been increasing,” said MPA executive director Vivek Couto in commentary. “Japan will continue to grow as Netflix strives to grow impact with new scripted non-anime shows.Read more on variety.com
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