2022watchlist
It’s not exactly rocket science to pick out the major trends in Asia’s video entertainment as 2022 dawns – streaming, more streaming, other streaming, new streamers coming, others going away to regroup or die. In the midst of all that, Asia’s programmers are finding a new voice. And we’re loving it and looking forward to more. Here’s what else we’re watching out for in the New Year. When, a few days ago, Line announced its video streaming exit from
At home, the revamped TVing, with all-new partners, launched in
Thailand at the end of this year, the reality of streaming’s challenges in
October 2020. In June this year, Korean conglomerate Naver added
Asia – and Southeast Asia especially – rose up even more starkly. In the
KRW40 billion/US$34 million to the streamer’s coffers, giving it a 15%
absence of public explanation from the horse’s mouth, a few theories
stake. Four months later, in October, TVing unveiled its Japan/Taiwan
have taken the lead.
expansion and talked about global plans. TVing’s co-CEO, Yang Ji-eul,
The first is that Line looked at Thailand, at the rising video competi-
took to the stage with a strong story built on the back of an 86% leap in
tion from relative newcomers iQiyi and WeTV, along with Viu, Disney+,
subs at home in the first half of 2021 and a 27.6% year on year increase
Netflix, Amazon Prime Video and, eventually, HBO Max, combined with
in domestic Korean TV advertising. TV ad growth was attributed to
its advertising-supported model in a YouTube universe, not to mention
shows such as Wise Doctor’s Life season 2 and You Quiz on the Block.
domestic players with free-TV businesses, and the whole business just became a headache and a distraction. Insiders say no one should be surprised, given Line TV’s spending pull-
So, TVing’s rise is one of the things at the top of our 2022 watch list, along with, of course, the inevitable ups-and-downs of on-demand video in every market in Asia.
back since early in 2021 – a sure sign (especially in hindsight) of trouble.
What else will we be looking out for in the new year?
Talk is that Line had been looking for a buyer for its video business in
Netflix’s weekly top 10 lists (with the hope of similar transparency from
Thailand for months, failing which a shut-down was inevitable. The second theory is that far from giving up on video, Line’s Japanese
other streamers). Although Netflix’s per-country TV watch hours are not disclosed, the Top 10 enables useful insights and deeper understanding
and Korean owners are regrouping with new video initiatives under the
of what’s being watched. Or not. And, for the most part, we all have
TVing brand, owned by Naver, CJ E&M and JTBC.
access to the top titles, so we can watch them ourselves, and think
And why not? TVing is a rising star and the signs are all good, al-
about why. Of course there are a million ways from Sunday we’re being
though sceptics say Thailand – or any other Southeast Asian market – is
told to be careful with conclusions. Okay, sure. We will be. Bye. What we
unlikely to be on the company’s priority lists for now. The platform has
would love is for other streaming platforms follow. Unlikely, in 2022 and
already announced plans to roll out in Japan and Taiwan in 2022, fol-
maybe ever. But one can always hope.
lowed by the U.S. in 2023.
Also on our 2022 watch list is Taiwan’s Taiwan Creative Content
The expansion happens as Korean content enjoys unprecedented
Agency (TAICCA), which has taken a leaf from Korea’s playbook and
global attention. Korean media companies have their highest interna-
has set its sights on a bigger, bolder international presence for Taiwan-
tional profile ever, taking their places around the tables of global enter-
ese creators and content. It took Korea 20+ years, and Korea Creative
tainment brands with, for instance, CJ ENM’s US$775 million acquisition
Content Agency (KOCCA) is still at it. TAICCA has been going for a year
of 80% of Endeavor Content’s scripted business as part of its vision to
or so, so there’s a way to go, but early signs are good. TAICCA has a
become a “global total entertainment company”.
solid story built on the back of real creativity in a democratic market
22
contentasia december 2021