Localized Movie, TV Show Spending to Top $2.5 Billion by 202027 Jun, 2017 By: Erik Gruenwedel
While Netflix and Amazon pour millions into regional movie and TV show productions in foreign markets, new data from MESA Europe’s Content Localization Council says industry spending modifying (foreign language dubbing) and producing content for distribution in local markets is expected to top $2.5 billion by 2020.
Dubbed “content localization,” spending will reach $2 billion this year, according to Jim Bottoms, executive director of MESA Europe. About 70% of this spending involves dubbing English-language movies and TV shows into regional and local languages.
Netflix and Amazon are driving distribution, in addition to national and regional pay-TV operators launching over-the-top video services.
Indeed, Netflix, which launched global access in 2016, has reportedly seen sluggish subscriber growth in regional markets — due in large part to a lack of localized content.
“The weakest point for Netflix, people say, is the local content, but that’s because we need time to learn not just the market and box office but about what and how Korean people watch,” CCO Ted Sarandos told the media in South Korea last summer.
Catherine Retat, co-chair of MESA’s content localization council, said the group’s objective involves standards, tools and technology used by OTT services distributing studio and independent content in regional markets and languages previously ignored.
“It is the paramount consideration when looking at potential suppliers [in the U.S., the U.K. and others],” Retat said.
Council industry members include A+E Networks, BBC Worldwide, Deluxe, Discovery Networks, Dolby, ITV Studios, Lionsgate, NBC Universal, NeuLion, Scripps Networks, SDI Media, Sky, Sony DADC, Sony Pictures, TiVo, Turner, 20th Century Fox, Viacom, Vubiquity, Walt Disney Pictures and Warner Bros.