During the Covid-19 pandemic, Asia’s traditional free-to-air and pay-tv broadcasters have taken a massive hit in advertising revenues.
As the pandemic eases and lockdown measures lift, we see a dip in users’ video consumption time, negatively impacting membership growth on streaming platforms.
With the rapid change in the streaming industry, how do streaming services adapt to global trends in 2022?
- Consumption habits remain
After COVID-19 slumps, the global entertainment industry is set to rebound.
Film and TV content delivered over the internet, known as “over-the-top,” or OTT, was one area of bright growth spot in the global entertainment and media industry worth over $2 trillion annually.
Recent research analysis by PwC shows that the industry expects some return to standard. However, user consumption patterns and consumer habits learned during the pandemic will remain; these consumption habits are permanent changes to consumer behavior even as more traditional media categories rebound from the crisis.
As seen in the chart above, OTT video, video games, internet advertising, and virtual reality are growing fast in the next few years.
Top-tier streaming companies, including Netflix, announced a new series of locally oriented content in Asia to win the local market share.
Disney unveiled over 20 TV series and films in Asian local languages to win user retentions this year. This has marked their most ambitious production effort in Asia so far.
iQiyi, the biggest on-demand video platform with 8 billion weekly watching time, has launched a localization strategy in Asia. Not only to make its platform available in 12 languages, but all international content is also subtitled, and some are even dubbed, which serves their biggest hits.
Local language content is critical in connecting with consumers in-home and regional global streaming services markets.
- Low latency is still the key.
Achieving smooth, low latency streaming delivery is still the priority for OTT platforms to keep and grow their market share. With steadily climbing video traffic, it requires enterprise CDN video streaming infrastructure like BaishanCloud to handle the significant concurrent volume and bandwidth consumption. It is essential to have a reliable CDN vendor or multiple CDN providers to ensure a stable and seamless experience for your viewers.
To know more about streaming trends in Asia internet, building reliable streaming solutions, or ways to get into the Asia market, feel free to chat with us on https://intl.baishancloud.com/contact-us.