Within a week of the announcement of Netflix Vietnam at the Consumer Electronics Show 2016, on January 6th that Netflix would expand to 130 countries, it was available in Vietnam as a subscription of 180,000d per month. Within days the legality has been questioned by local licensing authorities. Netflix will have a limited audience. Local content is actually critical to mainstream success.
Audiences will be initially limited with a lack of local content, very limited global content (given lack of global licenses), the lack of Vietnamese sub titles and the need for a fast internet connection. It is a small step forward for the Vietnam media scene and incremental revenue for Netflix with no local investment. Netflix investment priorties within south east Asia are currently limited to distrbution alliances and not local content.
As Cimigo, market research companies Vietnam Asia, market research reports Online, mobile, social media in Vietnam, Asia 2015 noted there is a massive convergence of video and mobile in Vietnam, which when married with local media content and efficient streaming will see the winner in this race reap huge rewards. Watch out for Clip which has an abundance of local video on demand content and is closest you can come to a local YouTube in Vietnam. Others include established telecommunications firms FPTplay (FPT), NetTV (Viettel) MyTV (VNPT). and new entrant Fim+ which again may be limited by a focus on Hollywood content.
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