Subscription Video Enjoys Growth Surge in Southeast Asia, But Analysts Say Streamers Face Tougher 2023

Patrick Frater Asia Bureau Chief Korean tech giant Kakao has gained the upper hand in the battle for control of K-pop agency SM Entertainment, after HYBE Corp., the firm behind music idols BTS, said Sunday that it had called off its takeover bid. SM is the second largest talent Korean music talent firm and is behind music acts including Super M, Aespa, BoA and Red Velvet, Girls’ Generation, H.O.T., EXO, Super Junior, SHINee and NCT Dream. HYBE said on Sunday that it will “discontinue the acquisition process […] after observing that the market has been showing signs of overheating due to competition with both Kakao and Kakao Entertainment,” something that it said could “damage shareholder value.”

Patrick Frater Asia Bureau Chief Thailand’s film censors have upset the release of local horror movie “Hoon Payon,” which should have arrived in cinemas pn Thursday. The film had a successful world premiere screening on Tuesday at a gala in Bangkok. But censors have since intervened to demand five scenes be cut and to impose a 20+ rating on the Five Star Production picture. The rating means that spectators must be age 20 or older, thus excluding the film’s key teenage demographic, and it obliges cinema operators to check the ID cards of all patrons. The film’s story involves a man who travels to a village in a border region where his brother, a novice Buddhist monk, has been accused of murder. As more bodies pile up, the man questions the villagers’ blind faith in a supposedly protective doll or mannequin.

Patrick Frater Asia Bureau Chief Philippines media powerhouse ABS-CBN is launching “The Bagman” action drama series as a remake of its own “Bagman” digital production and will launch it at Hong Kong’s FilMart next week. The original “Bagman,” which ran to two seasons and sold to Netflix in The Philippines, follows a neighborhood barber who lands a job as the governor’s henchman and gets caught up in a dangerous web of crime, corruption, and political turmoil. That is a familiar story for ABS-CBN itself. The company was until 2020 The Philippines leading broadcaster. But it dared to criticize the policies of then president Rodrigo Duterte and found its TV licenses were not renewed. Since the loss of its TV broadcast operations, ABS-CBN has repositioned itself as a mass content company working as a producer with other producers and broadcasters and outputting news to its website, streaming service iWantTFC and YouTube channels. It also operates related businesses in talent management and events.

After new texts from Tucker Carlson were revealed this week, in which he admitted he hates twice-impeached former president Donald Trump “passionately,” Jimmy Fallon is actually defending the “Tucker Carlson Tonight” host. According to Fallon, most friend groups bash at least one member in private.On Tuesday, new court filings from Dominion Voting Systems were made public as part of their ongoing $1.6 billion defamation lawsuit against Fox News.

wrote on Twitter that he would only join him after Carlson “admits to his viewers live on air that he has been lying to them about the 2020 elections and about what happened on January 6.”

Patrick Frater Asia Bureau Chief Warner Bros. Discovery and Japan’s U-Next have announced an extension of their relationship with a renewed deal to supply content to the SVOD platform. The agreement sees U-Next continue as the streaming home of HBO in Japan. Featuring exclusive content rights for HBO, HBO Original and HBO Max Original series, the strengthened agreement includes: current and future seasons of HBO’s “House of the Dragon,” “The Last of Us” and “Succession” as well as returning HBO Original and HBO Max Original series “True Detective: Night Country,” “Winning Time: The Rise of the Lakers Dynasty” and “And Just Like That…”

Patrick Frater Asia Bureau Chief Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) has increased its stake in Japanese film and TV studio Toei Company, from 5% to 6.03%, according to a report by the Reuters financial news agency. The move comes shortly after Toei published a ten-year plan for international expansion. Toei includes film and TV production operations, the T-Joy cinema chain and Toei Animation. Last month, it said that it had beaten its film revenue record, thanks to the success of titles including “The First Slam Dunk,” “The Legend of Butterfly” and “One Piece Film Red.” The stake increase also follows PIF’s February announcement that it had increased its stake in Japanese games and console maker Nintendo to 8.26% and that (along with the Singapore state fund GIC) was a buyer of a $966 million bond issue from Korean entertainment-tech firm Kakao Corp.

Patrick Frater Asia Bureau Chief Global streaming operation Netflix is forecast to spend $1.9 billion on local content in the Asia-Pacific region this year as group revenue from the region accelerates to 12%, according to a new report. The content investment spending figure represents a 15% hike. Netflix will grow revenues this year by 12% year-on-year to exceed $4 billion compared with 9% growth in 2022, says a new report published on Monday by Media Partners Asia.

Patrick Frater Asia Bureau Chief Weekend honors at the South Korean box office went to the Japanese animation film “Demon Slayer: Kimetsu No Yaiba – To The Swordsmith Village,” the latest installment in the “Demon Slayer” film and TV franchise. It earned $2.31 million between Friday and Sunday, for nearly a quarter of the total weekend cinema business, according to data from Kobis, the tracking service operated by the Korean Film Council (KOFIC).

Patrick Frater Asia Bureau Chief Netflix and Korean public broadcaster MBC on Thursday defeated a court application for an injunction to stop the airing of their documentary “In The Name of God: A Holy Betrayal.” The 8-part series began airing from Friday (March 3). It is a Netflix Original, meaning that the streamer has global rights, including in Korea. The show examines “the chilling true stories of four Korean leaders claiming to be prophets [and] exposes the dark side of unquestioning belief.” Among its subjects is Christian Gospel Mission, also known as Providence, and also known as Jesus Morning Star, or JMS. It shares those initials with its controversial leader Jeong Myeong-seok (aka Jung Myung-seok) who is currently awaiting trial in Korea for sexually assaulting some of his female followers.

What’s next for Paul Feig after directing “The School For Good And Evil” last year? It’s “Grand Death Lotto,” an action-comedy for Prime Video with a pretty dark premise. In the near future, California starts a Grand Lottery to help with its economic challenges, albeit with a catch: if anyone kills the winner before sundown, they get to collect the massive multi-billion dollar prize.

Patrick Frater Asia Bureau Chief HYBE Corp., the talent firm behind K-pop sensation BTS, has launched a campaign to woo the shareholders of SM Entertainment, the rival Korean talent empire in which it is poised become the largest single shareholder. In a letter and video package, issued Thursday, HYBE said that it was launching a campaign website detailing its business strategy and the ways in which it plans to prioritize SM shareholders. The documents directly criticized SM’s current management and also struck out at Korean entertainment-tech giant Kakao, with which SM has recently struck an alliance.

WARNING: DO NOT KEEP READING IF YOU DON’T WANT TO KNOW WHAT HAPPENS THIS SEASON!

The cast of Survivor’s newest season airs tonight (Wednesday, March 1) on CBS at 8 p.m. ET!

Patrick Frater Asia Bureau Chief Multi-territory Asian streaming service Viu has publicly disclosed key performance metrics for the first time and said that it was cash flow positive on an annual basis in 2022. The company, which operates in 16 Asian and Middle East markets and is seen as a rare success story in regional streaming, counts Hong Kong conglomerate PCCW as its principal shareholder, which also unveiled its own profits and loss figures for the 2022 calendar year. Viu which operates both ad-supported and paying tiers, said that it had 66.4 monthly active users in 2022, an increase of 13% year-on-year. Paying subscribers increased by 45% to 12.2 million over the same period.

Patrick Frater Asia Bureau Chief “Ant-Man and the Wasp: Quantumania” held on to top spot at the South Korean box office. But the overall market continued to soften despite a slew of new release titles. Nationwide theatrical grosses totaled just $7.26 million. That made it the slowest box office weekend in over three months. “Quantumania” collected $2.0 million between Friday and Sunday, according to data from Kobis, the tracking service operated by the Korean Film Council (Kofic), and enjoyed a 27% market share. The second weekend increment lifted its 12-day total to $10.6 million. Long-running Japanese animation title, “The First Slam Dunk” earned $1.36 million in its eighth weekend on release. Since Jan. 4 it has accumulated $28.0 million.

Shakira and Karol G’s song and music video have been released. “TQG” is a break-up song that tackles both women’s notorious relationships, with Gerard Piqué and Anuel AA.

Patrick Frater Asia Bureau Chief Japan’s online video market slowed in the fourth quarter of 2022, but ad-supported streamer TVer surged forward to overtake Prime Video as the most watched platform, according to a new report. The “Japan Online Video Consumer Insights & Analytics” report by consultancy Media Partners Asia shows SVOD subscriptions slowing to their slowest pace since 2015. From an average of 6-9 million per year between 2018 and 2021, they fell to just 3.1 million in 2022. Premium video viewership grew 8% quarter on quarter to reach 31 billion minutes in the fourth quarter, with SVOD at 55% share; AVOD at 34% and freemium at 11%.

Karol G gears up for the release of her new studio album, her team is pulling out all the stops, including moving billboards in Times Square, New York. This past Tuesday, fans were treated with a glimpse of Shakira and Karol G in the iconic location’s gigantic screens.Shakira and Karol G are officially releasing their first song together! This is what we knowShakira releases new merch inspired by Gerard Piqué break up song“Tu reality show favorito llega a su fin” — TQG, Karol G & Shakira. 24 Febrero.

Patrick Frater Asia Bureau Chief HYBE, the South Korean talent management company behind BTS, said Wednesday that it has already paid for its purchase a 14.8% stake in rival SM Entertainment and expects to complete the deal by March 6, ahead of the previously announced schedule. The company announced earlier this month that it will buy most of the 18.5% stake in SM Entertainment owned by founder Lee Soo Man, making HYBE SM Entertainment’s largest shareholder. The deal is priced at $336 million (KRW423 billion), giving SM Entertainment an implied valuation of $2.27 billion. Lee retains an option to sell the remainder of his stake to HYBE at specific prices within a month. HYBE has also offered to buy a further 25% of the company from other shareholders.