EXCLUSIVE FROM THE ARCHIVE—In a Nutshell Series 2023
Global Platforms: Asian Series & Entertainment Formats on The Rise
Based on an exclusive report by Avril Blondelot & Anqi Liu, for ATF 2022
- Global platforms face higher competition and subsequent churn leading to economic pressure.
- With the intense war of content investment, an expected $140 billion was expected to be spent for 2022 (a 10% rise from 2021).
- Streamers are looking for more profitable ways in content spending.
On Genres
- While FICTION remained the leading invested genre, ENTERTAINMENT FORMATS seemed to be an efficient alternative to tackle the content cost issue.
- 2022 saw the launches of new entertainment formats significantly increase among Asian regional platforms (+74% representing +34 launches).
- This phenomenon can also be found amongst global players, with a slight increase in volume (+32% representing +17 launches), mostly a result of Netflix’s investment in local content of the genre, for example, the South Korean JTBC-produced format, SINGLE'S INFERNO.
Platforms: A push in the commission of new Entertainment formats
Significant evolution of platforms’ commissions
- There were more commissions outside of the EU and US on global platforms due to their international expansion.
- PARAMOUNT+ has collaborated with South Korean local platform TVING to directly access local audiences and commissioned the IP by CJ ENM, YONDER.
- NETFLIX’S commissions outside of the US and Europe had a bigger portion, with 36% of launches vs 35% US-only commissions
- DISNEY+, 39% of launches outside EU/US vs 3% the previous season.
- This rise of commission numbers outside of the EU/US was unprecedented, mainly due to global expansions in less saturated OTT markets.
Global platforms: Bigger portion on commissions outside of EU/US
