Media Partners Asia expects Japanese animation monetization to reach US$2.5 billion in 2023
Consulting and research firm Media Partners Asia (MPA) predicted on Tuesday in a new report titled “The Future of Japan’s Video Industry” that Japan’s online video industry will grow at a compound annual growth rate of 7% in the next five years. In 2029, the video industry will account for 45% of total screen revenue, including free TV, pay TV and theatrical TV, compared with 35% in 2024.
The report estimates that the total revenue of Japan’s video industry will grow from US$31.8 billion in 2024 to US$34.1 billion in 2029. The report predicts that by 2029, the revenue of the online film industry will reach an estimated US$15.3 billion. Growth in large part due to user-generated content and social videos Youtube. Streaming content from providers such as Netflix, Amazon Prime Videoand Next Follow behind.
The report estimates that the Japanese anime industry will generate US$2.5 billion in 2023 through television, streaming media and theaters. The animation industry accounts for more than 8% of the total revenue of the national film and television industry. The report added that streaming will account for half of anime monetization by 2023, followed by television at 27%.
Animation also accounted for 36% of premiums in the first nine months of 2024, MPA said video on demand got engaged.
In the first nine months of 2024, 117 of the top 200 works on the Japanese SVOD platform were produced by Japanese animation.
The financial research company Teikoku Database found in its 2023 animation production industry report on August 27 that the value of the animation production industry in 2023 (based on 317 companies) was 339.02 billion yen (approximately US$2.36 billion), an increase of 22.9% over the same period last year. 275.783 billion yen in 2022 (currently converted to approximately US$1.9 billion).
Source: Media Partners Asia report, Deadline (Sara Merican)
