Netflix and Amazon locked up over 53% of worldwide SVOD commissions in the first quarter of 2024, securing their leadership positions in the streaming services industry, according to Ampere Analysis. Both platforms showcased their strategic focus on global markets, particularly in Asia, by showcasing their proficiency in commissioning original content. At this time, Netflix and Amazon both commissioned more original content from international markets than from the U.S., indicating a significant shift in their content marketing strategies.
The Hollywood Reporter highlighted that the availability of Netflix original content from Western Europe which includes the U.S., the United States, Germany, and Spain was nearly on par with that from North America. Netflix's determination to broaden its content offerings in various geographical areas is demonstrated by this action.
Surge in Indian OTT content:
Amazon, meanwhile, stepped up its efforts throughout Asia, most notably in India, where it placed an unprecedented 37 orders for new titles. The platform's strategic expansion and emphasis on gaining market share in India are demonstrated by the increase in content production by Amazon in India, surpassing the sum of the previous six quarters combined. Ampere and Netflix's commissions for Western Europe are almost equal to those for North America. Asia-Pacific titles also saw a notable uptick. Netflix is seizing the opportunity to go global by concentrating on developed markets for portable content, such as South Korea, India, and Spain.
The streaming giants strategy to cater to local tastes and increase their user bases in highly promising markets is aligned with their intention to increase their Asian content distribution. Asia Pacific regions are becoming more and more important players in the global over-the-top (OTT) market thanks to the increase in content from these regions. These areas employ a variety of content offerings to draw in and hold on to a worldwide audience. It is anticipated that Netflix and Amazon will dominate the global SVOD commissioning market as long as they make significant investments in foreign productions. Their strategic content acquisitions, combined with their plans to enter Asian and other markets, will help them stay at the top.