Chinese Streaming Giants iQiyi and WeTV Challenge Netflix and Amazon Prime in Southeast Asia

Chinese streaming giants iQiyi and WeTV are challenging Netflix and Amazon Prime Video in Southeast Asia, aggressively investing in original, locally tailored content. With budgets of up to $1.54 million per production, they are targeting popular genres such as "boys' love" and "girls' love" dramas. Chinese platforms already control around 40% of the streaming market in Thailand, Indonesia, and Malaysia, surpassing the 30% share held by American services. The Southeast Asia streaming market is expected to reach $6.8 billion by 2030.

Chinese streaming giants iQiyi and WeTV are aggressively challenging the dominance of Netflix and Amazon Prime Video in the Southeast Asian market. By investing heavily in original, locally tailored content, these Chinese platforms are reshaping the balance of power in the global entertainment market.

iQiyi, backed by Baidu, has been expanding its footprint across Thailand, Indonesia, and Malaysia. The company is pouring resources into local shows, with budgets of up to $1.54 million per production, and plans to release four to six Thai titles annually. It is particularly targeting popular genres such as "boys' love" and "girls' love" dramas, which enjoy massive fan bases in the region [1].

Tencent's WeTV, which entered Southeast Asia in 2019, has focused on idol programs designed to engage younger viewers. Its initiatives have even produced successful acts, including the seven-member boy band NexT1de [2].

The fierce competition is most intense in Thailand, Indonesia, and Malaysia. In Thailand, for instance, Chinese platforms already control around 40% of the streaming market, surpassing the roughly 30% share held by American services. A sizable ethnic Chinese population and the rising popularity of Chinese content have helped these platforms secure an advantage.

The push into Southeast Asia is also a survival strategy for Chinese companies. With the domestic market increasingly crowded and profits under pressure, expansion abroad offers new growth opportunities. The region's youthful demographics, growing middle class, and hunger for digital entertainment make it especially attractive. Analysts estimate that Southeast Asia's streaming market will reach $6.8 billion by 2030, up nearly 50% from 2024 [2].

This battle underscores how streaming is no longer a Western-dominated industry. By localizing content and tapping into cultural connections, Chinese companies are reshaping the balance of power in the global entertainment market—one drama, variety show, and boy band at a time.

References:
[1] https://asia.nikkei.com/business/media-entertainment/china-s-streaming-companies-gain-on-netflix-in-southeast-asia
[2] https://economictimes.indiatimes.com/news/international/global-trends/how-chinese-streaming-giants-iqiyi-and-wetv-giving-netflix-amazon-prime-a-run-for-their-money/articleshow/123360837.cms