China's iQIYI streaming platform wants to produce more Southeast Asian stars

It wants stars that would be popular in both China and SEA.

March 18, 2021

China's iQIYI streaming platform wants to produce more Southeast Asian stars

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In a bid to break into and dominate the Southeast Asian entertainment market, Chinese online streaming platform iQIYI has announced plans to launch a talent agency in the region, in partnership with Singapore entertainment group G.H.Y Culture & Media.

The streaming platform's international headquarters is also strategically located in Singapore, having moved there just three months ago.

Yang Xianghua, iQIYI President of Membership and Overseas Business. IMAGE: TBI Vision

The decision to launch a talent agency in Southeast Asia stems from the company's desire to produce relatable talent that will garner popularity among both regional audiences and those in China.

"We're already growing fast, with Thailand, Malaysia, Indonesia, and Singapore as our highest growing markets," said Yang Xianghua, President of Membership and Overseas Business.

According to Yang, the streaming platform's existing Southeast Asian productions are already gaining a lot of steam in China, with the viewership numbers being extremely encouraging.

"Our goal is to be an Asian content platform," said Yang, adding that plans for more Southeast Asian content are in the works, with teams in Japan and Korea currently developing original anime and dramas respectively.

Southeast Asia is the new place to be if reach and profit is what you're after.

IMAGE: BEAMSTART

According to Google's e-Conomy SEA 2020 Report, which analyzed changing digital consumer trends in the region, Southeast Asia has become the new hotbed for global streaming platforms. Statistics show that video subscription revenue in the region is set to grow fivefold by the year 2025.

If those figures are anything to go by, that makes Southeast Asia the best business opportunity for any platform trying to increase reach and profit. And so, it only makes sense for iQIYI to try their luck in the region as well.

But of course, there's stiff competition to deal with.

I'm still waiting for Kingdom Season 3 on Netflix. IMAGE: Netflix / Decider

For instance, Netflix already has a long-established presence in the region, becoming the go-to for mainstream blockbuster hits, as well as original, in-house productions which have managed to win the American streaming giant a slew of prestigious awards.

Another contender to keep in mind is Disney+, which only recently tapped Southeast Asia in their Indonesia and Singapore offerings. But their exclusive content has been a huge draw and selling point.

WeTV, whose parent company Tencent recently acquired Malaysian streaming service iFlix, is also making waves in the region.

Despite the competition, however, WeTV and iQIYI have been collaborating with each other. In fact, WeTV is now airing an iQIYI-produced Chinese variety show featuring Thai K-pop rapper Lisa, a member of the global phenomenon, BLACKPINK.

If you're curious to check out iQIYI's offerings, head to their website, or download their app, available on the Apple App Store and the Google Play Store.