The digital video market in Japan now worths $2 billion (220 billion yen)
The Animation Business Journal news website noticed on Wednesday that the Digital Content Association of Japan's 2019 edition of its digital video market report forecasts the total worth of the digital video market in Japan as 220 billion yen (about US$2 billion). There is an important growth in the market as 19% increase from last year's 185 billion yen (about US$1.65 billion). The rate of increase is higher than both the13% increase in 2017 and 12% increase in 2016. The report also estimates that the market worth will be 295 billion yen (about US$2.63 billion) in 2023. These growth rates actuallly support this prediction.
The Digital Content Association of Japan shared the report on Tuesday. Visual Media Research Institute representative director Kōichi Yomoda contributed an article to the report. The report also includes the interviews with representatives from many streaming services, who say that the market growth is because of successful advertising leading to better market penetration.
The report breaks down the state of 16 streaming services in Japan: Hikari TV, dTV, Amazon Prime Video, RakutenTV, J:COM on Demand, Netflix, DMM.com, U-NEXT, VideoMarket, GyaO!, Google Play, Hulu, DAZN, AbemaTV, TVer and Parabi.
We think that digital video market in Japan will continue to grow and anime industry will be a cricual part of it.
Sources: Digital Content Association of Japan, Animation Business Journal (Tadashi Sudo)