Africa and Asia the New Streaming Battlegrounds
With streaming growth in North American and European markets slowing, it seems that Africa and Asia have become the new subscription battlegrounds. Blake & Wang P.A entertainment lawyer, Brandon Blake, examines the new push.
Legacy Players Struggling
While Q2 earnings have been subdued across the board, one thing has become abundantly clear- the legacy streamers are struggling more than newer platforms as everyone adapts to the changing economic conditions and wider slow-down in the subscription markets. As the rather crowded streaming field battles it out for ultimate supremacy, it looks like the newly-emerging streaming markets in Africa and Asia could hold the key to unlocking more subscriptions.
Netflix, in particular, has made a massive push into the South Africa market, snapping up content deals as well as unveiling a host of new programming for the area. Likewise, Amazon has recently made in-roads into both areas, choosing Nigeria as a focus for its local content development. No doubt to leverage the talent already working in the thriving ‘Nollywood’ hub.
The Appeal of Asia and Africa
It’s easy to understand the appeal of these markets, too. Not only do both continents have populations in the billions, but they have a huge, newly-emergent middle class that is near ideal for potential subscriptions. Anyone with deep-enough pockets to spend well on smart local content should be able to gain some strong traction in both markets.
It’s becoming increasingly clear, especially as we see many streamers turning to a ‘bigger, better, but less’ content production strategy for their streaming services, that the battle for subscriptions in a saturated market is going to be a case of working smarter, not harder. With both Asia and Africa having thriving talent and established artists, actors, directors, and production companies to leverage in partnership, they should make a fertile new market for strong content partnerships and development.
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