The battlegrounds in the streaming wars are shifting fast, just as real-life battle lines are being dug out in Eastern Europe. Russia has drawn near-universal condemnation because of its unprovoked…
The battlegrounds in the streaming wars are shifting fast, just as real-life battle lines are being dug out in Eastern Europe.
The rush of activity in markets across the U.K., Europe, Asia and Latin America has the potential to super-charge existing production infrastructures. For media and entertainment leaders, the focus on reaching subscribers outside the U.S. could not be sharper. Disney Plus is juggling more than 300 local-language productions, a vital step to growing subscribers in the region, as CEO Bob Chapek told Wall Street in February. The driver of international is “the predominance of local content that we are developing in order to appeal to the unique taste of each of those international markets,” he said.
For one, most of the world’s major media companies have taken steps to sanction Russia by suspending operations and abruptly cutting business ties with the nation. On March 6, Netflix became one of many to suspend activity and service in Russia. The country accounts for only about 1 million of Netflix’s 220 million global subscribers.
Netflix paces the race in representing the high end of global subscriber growth rates. From 2016 through 2021, Netflix’s subscriber base blossomed at a compound annual growth rate of 51% in Asia, 33% in Europe, the Middle East and Africa and 23% in Latin America. In the U.S., the growth rate was 7%.
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