Yuanta Reports

Video streaming platforms aim to tap local market

The local market for streaming video on demand (SVOD) has become a whole lot richer recently, with four SVOD service providers—including international heavyweight Netflix, Malaysia-based iFlix, homegrown Sabay’s Soyo, and Westec Media’s JaiKon TV—competing head-to-head for subscribers. iFlix, which launched in August, is the latest paid SVOD contender to enter the Cambodian market, arriving 18 months after the launch of Netflix. iFlix, which found an ideal distribution partnership with mobile operator Smart Axiata, emphasizes local and regional content, distinguishing itself from Neflix, which puts out top-rate original programming. The two homegrown SVOD platforms are also pushing for a slice of the market by offering more localized content, as they were developed with Cambodian viewers in mind. Michael Chai, CEO of Westec Media, said JaiKon TV is going after a different market segment than Netflix and iFlix since it looks beyond the capital and hopes to capture the rural mass market with the focus geared toward low-budget Asian content. Meanwhile, Sabay is taking a different approach, not only focusing on local content for its new Soyo platform, but also investing in developing the Cambodian filmmaking industry to ensure a steady stream of local content. (Source: Phnom Penh Post)

Economy & Industry

18th September 2017

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