The Key Survival Strategy for Streaming Platforms in Southeast Asia : Localization
Southeast Asian markets are a battleground for various global OTTs. From Netflix to local businesses and OTT platforms in India and China are working hard to secure markets.
According to OTT industries, the first key to successful OTT markets in Southeast Asia is ‘Localization’ strategy. Like Line TV, which is enjoying great popularity in Thailand's OTT market, it means that contents and services supplied to countries should aim for the local taste.
Line TV fills most of the contents that are provided in Thai markets with local contents. Both dramas and entertainment shows are thoroughly targeting Thai viewers' tastes. It is heard that Line TV has secured a total of 40 million users by 2019.
For example, one of the key things for Korean OTT companies would be that they should get away from the rosy idea that they can succeed with the existing Korean Wave such as K-POP when they are entering the Southeast Asian market. The reason is that exposure to Korean Wave dramas that have been popular in the past is decreasing now, and K-content-oriented Korean Wave is a completely different field with K-pop-oriented Korean Wave.
In fact, there have been several failures, such as the withdrawal of OTT platforms like iFlix and Hook from the Southeast Asian market. In order to successfully settle in OTT market, detailed strategies must be made for each country. It is predicted that streaming platforms will have to recognize differences in culture and laws in Southeast Asia and start its business calmly.