Netflix is currently looking to Asia after the shocking first-quarter slowdown. Netflix is seeking to both maintain growth in one region, where the still adding subscribers of Netflix and replicate the success of Netflix there in other parts of the world.
Tony Zameczkowski, vice president of business development for Asia Pacific, said despite plans to stop overall spending, the investment in Asia is going to keep growing, including financing for the production of local series and films.
He said as Netflix is going to continue to offer mobile-only and low-price membership across the continent of Asia, and Netflix is also seeking more partnerships with some wireless operators and digital payment companies to reach some more potential customers in a region where use of credit card use less common.
The Asia strategy of Netflix is informing the moves in other emerging markets, where Netflix must also grow to balance out the saturation in the continents including Europe and North America.
Tony Zameczkowski said Asia is a great proxy for several other markets in the world, and there are more similarities between the emerging Asia and other emerging markets such as Latin America and Africa. The learning here can be replicated or leveraged easily by all those regions.
In recent years, the shares of Netflix are increased in recent years as subscriber counts boomed, but the Netflix also reported its first loss of the customers in over a decade in April 2022.