Chinese online video platform iQIYI plans to launch a talent agency in Southeast Asia to cultivate its own entertainers amid a major push to become Asia's dominant streaming platform, a senior executive told Reuters.
"We're already growing fast, with Thailand, Malaysia, Indonesia, and Singapore as our highest growing markets," he said."We saw 12 times the user growth for the region in 2020." With its young online population, Southeast Asia is becoming the newest battleground for streaming platforms, with video subscription revenue set to grow fivefold by 2025, according to a study by Google, Temasek Holdings and Bain & Co.
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