The news: Amazon Prime Video is making investments to create regional content in markets such as the UK, France, and parts of Asia, as streaming providers compete to win over international viewers.
More on this: In Europe, Prime Video adoption rates trail those in the US— due in part to the fact that European streamers have less access to content options.
- The ecommerce giant announced at an event in Paris that it will produce a number of originals, dedicating further efforts to invest in French TV production.
- Amazon recently disclosed that it has invested £50 million (over $65 million) to produce three series and add jobs in Scotland.
- The free streaming service IMDb TV has been relaunched as Amazon Freevee and will be expanding to German audiences this year.
- The company also plans to expand its streaming service within Southeast Asia, with plans to move into markets like Thailand, Singapore, and the Philippines.
- Prime Video is rebooting Japanese shows and livestreaming the World Bantamweight title fight in June, to win over audiences in Japan.
Why it matters: US streaming giants are making bold moves to garner more subscribers: YouTube renewed its deal with Major League Baseball to stream live sports, Warner Bros. Discovery confirmed it plans to merge Discovery Plus and HBO Max into one streaming service, and Amazon acquired filmmaker MGM.
- As streaming services try to dominate across audiences, they’ll need content that is relevant to international viewers in their markets. Local content can help drive revenue and differentiate Prime Video from its peers.
- As the US streaming market matures, streaming services have no choice but to compete for international viewers to grow.