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Report: Japan's Online Video Industry to Grow to 45% of Total Screen Revenue by 2029
posted on by Anita Tai
The Media Partners Asia (MPA) consulting and research firm predicted in a new report titled "The Future of Japan's Video Industry” on Tuesday that Japan's online video industry will grow at a 7% compound annual growth rate over the next five years. Japan's online video industry will account for 45% of total screen revenue by 2029, including free TV, pay-TV, and theatrical, compared to 35% in 2024, according to the report.
The report estimated that the Japanese video industry's total revenue will grow from US$31.8 billion in 2024 to US$34.1 billion by 2029. The report predicts revenue for the online video industry will reach an estimated US$15.3 billion by 2029, due in large part to user-generated content and social videos on YouTube. Streaming content from providers like Netflix, Amazon Prime Video, and U-NEXT follow behind.
The report estimated the anime industry earned US$2.5 billion in Japan in 2023 through monetization on TV, streaming, and theatrical. The anime industry accounted for more than 8% of the total screen industry revenue in the country. The report added streaming accounted for half of the monetization for anime in 2023, followed by TV at 27%.
MPA stated that for the first nine months of 2024, anime also accounted for 36% of premium video on demand engagement.
Japanese anime was also responsible for 117 of the top 200 titles on SVOD platforms for the first nine months of 2024 in Japan.
The financial research firm Teikoku Databank found in a report on the anime production industry for 2023 on August 27 that the value of the anime production industry (based on 317 companies) was at 339,020,000,000 yen (about US$2.36 billion) in 2023, a 22.9% growth from 2022's 275,783,000,000 yen (about US$1.90 billion in current conversion).
Sources: Media Partners Asia's report, Deadline (Sara Merican)
