COVID-19 has changed everything, including our media consumption habits. It caused a series of lockdowns and kept millions of people stuck at home. Cooped up within our four walls, Southeast Asians turned to the internet and its myriad forms of entertainment to distract from the pandemic. This translated into a ripe opportunity for streaming services to gain a foothold in the region.
Explosive growth in streaming services followed in the forms of Netflix, Disney+, Amazon Prime and many others. Netflix was already popular, with 57% of Singaporean households subscribed to its service back in January 2021.
Market observers believe streaming services are now a key part of mainstream entertainment, having grown to the point of possibly replacing legacy viewing habits. (Netflix and chill, anybody?) Our latest data shows that 73% of Southeast Asians are now paying for at least one streaming service.
We have grown so comfortable at home that they are giving up on the cinema experience. 63% of Southeast Asians say they rather watch a new movie on a personal device (phone, TV or laptop) than going to the cinema.
And yes, Southeast Asians are more than happy to skip the cinema queue if they can — 38% say they will pay the price of a movie ticket or more to watch the show immediately on their devices.
By the way, in our listing of top 5 brands in Southeast Asia, a streaming service beat the likes of tech giants Apple and Samsung to the pole position. Netflix is the number brand in Southeast Asia and we believe the overwhelming appeal of Squid Games probably helped to elevate its appeal. Frankly, Squid Games was divine and we cannot wait for Season 2. In the meantime, we’ll look to see if Hellhound lives up to its hype as worthy successor.
Author: Blackbox Research Team
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