How Chinese streaming giants iQiyi and WeTV giving Netflix, Amazon Prime a run for their money

Southeast Asia’s streaming market is turning into a high-stakes battleground, with Chinese platforms like iQiyi and Tencent’s WeTV rapidly challenging American heavyweights Netflix and Amazon Prime Video. To capture audiences, Chinese companies are aggressively investing in original, locally tailored content. With viewers demanding stories that feel closer to home, these platforms are betting big on regional productions to win loyalty.

iQiyi, backed by Baidu, has been expanding across Thailand, Indonesia, and Malaysia. The company is pouring resources into local shows, with budgets of up to $1.54 million per production, and plans to release four to six Thai titles annually. It is especially targeting popular genres such as “boys’ love” and “girls’ love” dramas, which enjoy massive fan bases in the region. Tencent’s WeTV, which entered Southeast Asia in 2019, has focused on idol programs designed to engage younger viewers. Its initiatives have even produced successful acts, including the seven-member boy band NexT1de. Meanwhile, early entrants like Netflix and Amazon Prime Video continue to hold strong positions, but their dominance is starting to weaken as Chinese competitors gain traction.

The fiercest competition is playing out in Thailand, Indonesia, and Malaysia. In Thailand, for instance, Chinese platforms already control around 40% of the streaming market—surpassing the roughly 30% share held by American services. A sizable ethnic Chinese population and the rising popularity of Chinese content have helped Beijing-based platforms secure an advantage.


For Chinese companies, the push into Southeast Asia is also a survival strategy. With the domestic market increasingly crowded and profits under pressure, expansion abroad offers new growth. The region’s youthful demographics, growing middle class, and hunger for digital entertainment make it especially attractive. Analysts estimate that Southeast Asia’s streaming market will reach $6.8 billion by 2030, up nearly 50% from 2024.

This battle underscores how streaming is no longer a Western-dominated industry. By localizing content and tapping into cultural connections, Chinese companies are reshaping the balance of power in the global entertainment market—one drama, variety show, and boy band at a time.