The survey of internet users watching paid online VOD covered India, Indonesia, Malaysia, Taiwan and Thailand. These countries too show the same fondness for local content.
The findings were revealed by Alphabeta Strategy and Economics engagement manager Dr. Konstantin Mathhies during FICCI Frames event in Mumbai recently.
The report added: “With strong consumer demand for local content, VOD players will have to increasingly provide high-quality local content to align with these preferences. Already, many VOD players in Asia have developed “hyper-local” strategies in content investment – with a focus on producing high-quality shows that also differentiate their offerings in a competitive market.”
Many big OTT platforms are investing in the Asian countries while local players are also ramping up the investment in content. The study estimates that the content spending in Asia could go up to US$10.1 billion in 2022 from US$2.7 billion in 2017.
The report forecast that foreign direct investment (FDI) in local content in Asia is also expected to get a boost given the fact that VoD spending is largely driven by global players . The report added that the potential FDI could reach US$4 billion by 2022.