In recent times, the SVOD and OTT market has skyrocketed – and we’ve been there to document its every twist and turn. There is an interesting behavioral pattern emerging, and major SVOD services are going abroad.
How big is the demand for localized SVOD increases?
Now, there’s a new demand in the SVOD world: localised entertainment. What does that mean, you say? Well, in the US especially, the appetite for shows from Korea, Denmark and everywhere for that matter, has become ravenous.
As the world of SVOD waits for no man, many of the streaming services, big and small, are ramping up to meet the demands of a new culturally adventurous wave of content consumers.
SVOD services from the ever-popular Netflix right through to niche providers like Acorn TV are all gearing up to deliver their fans international hits and produce their own original series overseas.
As the global demand for localised content increases, smaller services such as like DramaFever and Crunchyroll (specialising in Japanese anime) are thriving – and the market is growing.
Quite incredibly, those in the USA have become attached to the BBC’s quintessentially English ‘Great British Bake Off’ and fans often trace the progress of a season before it’s even aired on American soil. In fact, so much so, that when the departure of beloved judge Mary Berry was announced for future series’, there was an uproar in the States. This example alone goes to show the growing hunger, and interest, today’s consumers have for foreign content.
The problem today’s consumer faces is latency. Having to wait until a beloved international show or movie release is aired on a particular service is not only frustrating but considered a dated mindset in the modern world.
As a response to the needs of today’s SVOD consumer, many subscription services have embarked on a journey to reverse the trend and reduce waiting times for those anticipating the release of their favourite film or television series.
What are the main challenges for SVOD providers?
Of course, localising your service for an ever-growing audience does come with its challenges. In addition to ensuring the legal rights for broadcasting content in different countries are adhered to, language barriers are considered, and differing subscription currencies are dealt with, such a widespread service could incur its fair share of security issues.
Content security standards must not be compromised and to ensure content in all regions remains safe, a security strategy and infrastructure are essential.
One provider who is proving successful in its localised service migration – as you might have guessed – is Netflix.
How Netflix adapted its service to enter Turkey?
The colossal provider has just gone fully local in Turkey. Not only has Netflix teamed up with local telecoms partners to offer its Turkish customers a smooth user experience and quality content, but the company also uses local language in its interface, deals in Turkish currency, and has added plenty of homegrown television shows on top of its core content.
Turkish streaming fans will, of course, be able to enjoy local favourites, but they won’t have to miss out on Netflix Originals like House of Cards, Stranger Things, Narcos and, Marvel’s Daredevil as these shows come equipped with Turkish subtitles. Netflix co-founder and CEO, Reed Hastings said,
“Turkish people are great storytellers with their hugely popular and internationally recognised Turkish dramas and Netflix aims to become one of its most vocal ambassadors. We’re delighted to offer a more localised Netflix in Turkey that will continue to grow with both our Netflix Original titles and licensed content from here and elsewhere.”
A big step forward for the company and many other SVOD providers. As the world becomes more connected and people crave more than what’s on their doorstep, content providers are wising up and localised services are taking centre stage.
To thrive in the future, content providers will have to diversify their content and offer a tailored services to entertainment fans across the globe. And when you think about it, it’s going to be a beautiful thing.
Learn how a broadcaster expanded internationally, with a localised SVOD service: