International TV booming as streaming services invest in the global market – The Streamable
As the US market becomes saturated with streaming services, companies are working more aggressively to grow their audiences overseas. Massive investments by Netflix and Amazon in international programming led the charge, as the success of original shows like “Dark” (Germany), “Narcos” (Mexico), “Money Heist” (Spain) and “Made in Heaven ”(India) has been an integral part of their growth. Spending huge amounts on productions on a global scale has now become a key factor for every streaming service that seeks to dominate our screens.
Never losing market share, Disney + plans to order 50 shows in Europe by 2024. The streamer recently revealed 10 new European originals, including “Parallels” from France, “The Good Mothers” from Italy and “Sam – A Saxon “from Germany. While we wait for Disney + to reveal more details on their list of upcoming UK productions, they recently hired producer Lee Mason as the second director of scripted content for the Europe, which shows their determination to establish a firm foothold in the region.
Israel appears to be the country of choice at the moment for both HBO Max and Apple TV +, as both platforms dig deep into their portfolios to appease their customers’ appetites for international entertainment by setting up a camp. Apple TV + has injected its finances into dramas like “Losing Alice” and the spy series “Tehran”, while HBO Max has “On The Spectrum” and “Possessions”. With “On The Spectrum” being an autism-centric comedy / drama and “Possessions” being a psychological thriller, both Hebrew-language productions reveal that HBO Max seeks to appeal to a diverse audience and cover a wide range of tastes.
Netflix and Amazon continue to have their feet on the ground, with the former pledging to invest nearly $ 500 million this year alone in South Korean productions and funding around 16 anime projects from Japan.
The two streaming giants are also fighting in France with the Amazon comedy series “Greek Salad” and their investment in Parisian reality TV, which comes up against Netflix’s plans to support 27 original French productions in 2021.
This all makes perfect sense if you ask Peter Csathy, Founder and President of CreaTV Media. He describes international markets as “the next great battleground in the streaming wars”. While the US audience for foreign content is not slowing down, he says the domestic market for new subscribers is “essentially saturated.” This has led streaming providers to look to new customers overseas to continue to facilitate both financial growth and new programming.
Big streamers know that getting in early is essential to entering these new markets. Those who are late to the party may find that potential subscribers are already tuning in to their competition. Paolo Pescatore, analyst at PP Foresight, says “It is essential to enter as many markets as possible and to secure key distribution agreements with local suppliers. Build a base, scale the business, understand viewer habits, then invest in local production. “
“There are no real opportunities, both in sales and co-production, to work with these new players,” said Matt Creasey, head of global sales, co-productions and acquisitions for Banijay. He goes on to describe the current state of affairs as an “arms race”.
While most services shy away from advertising on their platforms due to the lack of ads being one of the advantages of streaming content, the ability to target ads in untapped markets can also prove to be a source. irresistible income as streamers seek to maximize their profit in and in real ways.
According to Csathy, the ultimate success of vendors in these markets will depend not only on their ability to attract new customers with premium content, but also on their effectiveness in sustaining interest. Csathy says this will require local programming that is exciting and meaningful to the target audience.
“Localized content – not just transported American programming – is strategically critical to success,” he says.
Ending on an upbeat note for international stars of the future, Csathy says he believes that “for creatives around the world it’s the best of times as all of these great streamers are fighting to come out and become a global winner. . . “