Netflix Inc. is planning to double its spending on original content in Asia next year to help stay ahead in a crowded streaming market, where billionaires including China’s Pony Ma and Hong Kong’s Richard Li are seeking to expand their presence.
After producing widely watched Asia shows such as the Korean zombie period thriller "Kingdom” and reality series "Indian Matchmaking,” the world’s largest streaming platform is seeking to cement its stronghold in a region that’s seen the fastest growth in subscribers, said Minyoung Kim, Netflix’s vice president of content.
Kim declined to elaborate on what the 2021 budget for originals would be beyond saying Netflix is looking to double its investment from this year on securing exclusive content. Research firm Media Partners Asia said the amount is likely to be at least $1 billion (about ¥104.4 billion) The U.S. giant said it has spent almost $2 billion since 2018 on original and licensed local content. Since its Asia launch in 2015, Netflix has released over 220 original titles.