Can established global players compete with local powerhouses?While Netflix has continuously increased its APAC revenue in the past years, the global streaming giant is unavailable in the region's biggest market China. In 2017, Netflix reached a licensing deal with Chinese market leader iQiyi, making selected original content available on the Baidu-owned platform. China boasts its very own SVOD landscape in general, with other local services including Tencent Video (WeTV), Bilibili, and Youku Tudou dominating the market.
In contrast, global industry leaders such as Netflix, Amazon Prime, and Disney+ are available in other APAC countries or are set to launch there over the next years. Due to its 2019 acquisition of Indian streaming platform Hotstar, Disney+ launched under the name Disney+ Hotstar in India and several Southeast Asian markets. In India's case, this allowed for the platform to continue Hotstar's established and highly popular programming, most notably live streams for sporting events like cricket. Similarly, Disney+ Hotstar has partnered with Indonesian telco behemoth Telkomsel for its rollout in Southeast Asia's biggest market. Therefore, the service is part of Telkomsel's monthly internet package and can provide subscribers with local content more easily. These localization efforts were projected to pay off, as Disney+ is on track to become the most subscribed-to SVOD platform in APAC by 2026.