Portico Connected Series 1: Beyond Borders: How International Co-Productions are Charting the Future of Entertainment
Portico Connected: Where Media, Technology, Culture and Content Converge
Bridging the realms of media, technology, culture, and content, Portico Connected is a blog series that offers incisive insights into the ever-evolving global media and entertainment industry. The platform serves as a gateway to the latest trends, groundbreaking innovations, and critical conversations shaping content creation, distribution, and consumption today. Offering unique perspectives from a quartet of industry powerhouses—GagaOOLala, a pioneer in LGBTQ+ streaming and digital media; Portico Media, Taiwan’s leading expert in pay-TV content and channel aggregation; GOL Studios, a production force with hundreds of captivating original titles; and HahaTai, a defining force in Taiwan’s contemporary social media zeitgeist—Portico Connected fosters dialogue and connections between industry leaders, creators, and audiences, exploring the multifaceted ways in which media unites us all in the digital age.
The entertainment industry is at a crossroads. The traditional powerhouse, Hollywood, faces a confluence of challenges, from the ripple effects of the 2023 writers' and actors' strikes to the economic pressures of a post-peak TV landscape. The once-prolific content pipeline is narrowing as studios prioritize profitability over sheer volume. This slowdown, coupled with the ongoing shift towards streaming and the search for new revenue streams, has created an opportunity for international productions to take center stage.
The Shifting Sands of Hollywood: Decline and Transformation
The Hollywood landscape has undergone significant contraction since the 2023 Writers Guild of America (WGA) and Screen Actors Guild (SAG-AFTRA) strikes. As of May 2023, Hollywood's content production decreased, exacerbated by corporate economic pressures, changes in audience habits, and the broader financial outlook of the entertainment industry. The once-thriving era of "Peak TV," marked by unprecedented spending and content proliferation, is in sharp decline. According to Luminate, in 2023, the number of new U.S. programs debuting across broadcast, cable, and digital platforms dropped by 21% compared to 2022, with 1,784 premieres versus 2,264 the previous year.
The overall premieres decline across U.S. broadcast, cable and digital platforms in 2023. Image Source: Variety
A critical factor in this downturn is the rising demand for profitability from streaming platforms. Companies like Disney and Netflix have announced reductions in content spending, a shift that began before the strikes but intensified due to production cycle disruptions. Studios are opting for lower-risk ventures, trimming down greenlit projects and resulting in fewer opportunities for creators. This situation is compounded by the decision to scale back new series orders and adopt a more conservative content strategy.
This shift leaves gaps in the entertainment landscape, presenting unique opportunities for global players—especially in regions like Asia, where content production is consistently rising to meet this shortfall.
The Global Production Renaissance
As Hollywood's output declines, global production hubs are emerging as critical players in filling the content gap. In early 2024, production resumed globally following the strikes, but not without significant industry recalibration.
Countries like Canada, Spain, and the U.K. have seen an influx of production activity as international studios shift their focus from U.S.-based operations. Spain, in particular, has emerged as a hotspot for high-budget productions, benefiting from competitive tax breaks and diverse filming landscapes as international locations, particularly those offering attractive tax incentives and experienced crews, are becoming increasingly attractive to studios looking to maximize budgets.
Streaming mammoths like Netflix and Amazon have recognized the importance of global content, producing over half of their original programming outside the U.S. in 2023. This shift is driven by several factors: the cost-effectiveness of international productions, the flexibility in navigating local regulatory environments, and the growing demand for culturally specific stories that resonate with global audiences.
International content orders from Netflix and Amazon are surpassing those from the U.S. Image Source: The Hollywood Reporter
The Rise of International Content: A New Local-Global Narrative
This shift isn't just purely about production logistics; it's about a fundamental change in audience appetites as well. Global audiences are increasingly embracing diverse stories and genres and are hungry for authentic, locally rooted stories that offer fresh perspectives and challenge traditional Hollywood narratives. This is evident in the growing popularity of non-English language titles on streaming platforms, with Netflix and Amazon now producing over half their content internationally, and non-English language titles claiming a larger share of the streaming market.
The surging viewership of non-English language content among different demographic groups. Image Source: Indiewire
Emerging international markets like Latin America, Sub-Saharan Africa, and the Asia-Pacific region are driving this growth and becoming vital production centers for global content creation. In 2023, streamers such as Netflix and Amazon ramped up their investment in these regions, particularly in genres such as children's programming, reality TV, and local romance dramas, reflecting a global pivot in content investment.
Furthermore, the success of international hits like South Korea's Squid Game and Spain's Money Heist demonstrates the potential for non-English content to dominate global charts. Asian content, in particular, is on the rise, with titles from South Korea, Japan, India, and Thailand increasingly appealing to international audiences, reflecting a trend of a growing appetite for stories that are both locally authentic and universally relatable.
Asia in the Spotlight: A Content Powerhouse
Among the previously identified emerging international markets, Asia is increasingly positioned as a rising powerhouse in global content production, thanks to the increasing global popularity of South Korean, Japanese, and Thai series, among others. With its diverse cultures, booming cultural and creative industries, and a young, tech-savvy audience, Asia is at the forefront of the international content revolution, as evidenced by:
Dominance on Streaming Charts: Asian titles, particularly from South Korea, Japan, India, and Thailand, have been consistently topping Netflix's global charts.
Increased Investment in Local Content: Major streaming platforms (Netflix, Amazon, Disney, Viu, iQiyi, WeTV) are investing heavily in localized original content for Asian markets.
Unique and Evolving Media Landscape: The Asian media market, driven by streaming, mobile consumption, and evolving demographics, presents unique growth opportunities.
The growing popularity of Asian content in the digital TV space as per Luminate’s 2023 Year-End Film & TV Report. Image Source: Tokuriki
Of the many genres of work coming out of the region, the global appetite for Boys’ Love (BL), in particular, highlights the potential of Asia’s soft power and content that was once considered niche going mainstream. Originating in Japan, the genre has expanded throughout East Asia and beyond, making waves in markets like Taiwan and Thailand, where it generates significant content revenue and encourages pink tourism in the form of regional fan meets and pride celebrations.
The rise of Boys’ Love (BL) Genre from Asia. Image Source: Campaign Asia
International Co-Productions: Fueling Asia's Rapid Content Growth
It is here that international co-productions are emerging as the optimal model for navigating the rapidly booming yet complicated content landscape in Asia. Countries like South Korea, Japan, Thailand, Singapore and Taiwan are investing heavily in content creation, fostering talent, and actively seeking strategic, international partnerships. By pooling resources, expertise, and creative vision, co-production deals and arrangements are offering content creators across the region a pathway to:
Mitigate Financial Risk: Sharing production costs allows studios to invest in more ambitious projects, particularly in genres like high-end drama that demand significant resources.
Navigate Complex Regulatory Landscapes: Co-productions can facilitate access to different markets, navigating local content quotas and securing tax incentives.
Tap into Global Talent Pools: Collaborations open doors to fresh voices, perspectives, and creative approaches, leading to richer, more nuanced storytelling.
Connect with Diverse Audiences: Locally resonant stories, when crafted with global appeal in mind, have the potential to transcend borders and resonate with viewers worldwide.
The growing trend of co-productions, facilitated by the many arrangements, summits and content markets within the region (Tokyo International Film Festival Content Market (TIFFCOM) Japan, Asia TV Forum & Market (ATF) and ContentAsia Summit Singapore, Taiwan Creative Content Fest (TCCF) Taiwan, and Filmart Hong Kong etc.) and collaborations between Asia, UK and Europe, offers a solution to economic challenges, particularly for smaller studios seeking to tap into global markets. This allows countries to pool resources, share risks, and broaden the appeal of their content by tailoring it for multiple regions.
As seen with The Kidnapping Day—a co-production between Korea and the U.K.—studios across Asia are looking beyond their domestic borders to produce content that can resonate globally. By blending storytelling techniques from different cultures, co-productions offer Asian creators a unique pathway to creating internationally successful content.
Taiwan: A Rising Star in Chinese-Language Content
Among the many content hubs in Asia, Taiwan has emerged as a key player in the Chinese-language content space. With China's tightening regulatory environment and a near-complete boycott from the West, many international streaming platforms have turned to Taiwan for Chinese-language content. As a democracy that values media freedom, LGBTQ+ rights, and unobstructed cultural, creative, and artistic expression, Taiwan is increasingly positioning itself as a stable and creatively fertile destination for producing stories that appeal to global audiences without the political restrictions faced in Mainland China, as evidenced by:
Netflix's Focus on Taiwanese Productions: Netflix's recent Chinese-language slate consists entirely of Taiwanese projects, highlighting the challenges Western companies face in mainland China and Hong Kong.
Government and Private Support for the Creative Industries: The establishment of Taiwan Creative Content Agency (TAICCA), TCCF, and various public and private funding initiatives like the Taiwan International Co-Funding Program (TICP), Rising Stories, GrX Studio’s Asia Rising Fund and subsidy support from the Taiwanese Ministry of Culture demonstrate Taiwan's commitment to fostering its creative sector.
TAICAA’s 2024 Innovative Content Grant
International Co-Production Partnerships and Strategic Alliances: Taiwan is actively forging co-production partnerships and fostering strategic alliances with countries like France (TAICCA X Series Mania), Singapore (TAICCA X Singapore Film Commission, Taiwan’s TVBS X Singapore’s Mediacorp’s Love on A Shoestring), South Korea (Taiwan’s Studio76 and South Korea’s KT Studiogenie’s Good Job), and more, recognizing the mutual benefits of cross-cultural collaboration.
GagaOOLala's First Note of Love: A Case Study in Co-Production Success
As a leading global streaming platform for LGBTQ+, Boys' Love (BL), and Girls’ Love (GL) content, GagaOOLala is at the forefront of the content revolution in Asia. Our commitment to championing diverse voices and pushing creative boundaries in the queer entertainment landscape has led us to embrace the power of international co-productions with our latest Original series, the Taiwan-Thailand-Japan co-production First Note of Love, exemplifying this commitment.
GagaOOLala’s First Note of Love
The 12-episode original musical BL series with artistic and musical inputs from Star Hunter Entertainment Thailand and Warner Music Taiwan; financial investment from the Kaohsiung Film Fund, Video Market and Rakuten TV Japan and TAICCA and subsidy support from the Bureau of Audiovisual and Music Industry Development of the Taiwanese Ministry of Culture, demonstrates how GagaOOLala is leveraging international co-productions to:
Create High-Quality, Globally Resonant Content: First Note of Love blends the original talents and cultural and creative nuances of Taiwan and Thailand to create a truly unique and engaging series that appeals to BL fans across the globe.
Encourage Cross-Cultural Collaboration: The cross-national production brought together talents, resources, and creative vision from three of Asia's biggest BL content hubs, Japan, Thailand and Taiwan, to create a truly cross-cultural, collaborative experience.
Expand Distribution and Reach New Audiences: By securing partnerships with major streaming platforms like Line TV and friDAY in Taiwan, Rakuten TV and Video Market in Japan, Heavenly in South Korea, and Rakuten Viki in multiple territories, First Note of Love was able to reach a wider, global audience than ever before, showcasing the worldwide appeal of BL content.
Foster Innovation and Push Creative Boundaries: By placing music at the heart of the series’ narrative, in collaboration with Warner Music Taiwan, First Note of Love was able to go beyond conventional BL themes, attracting a diverse viewership of LGBTQ+, BL, music and Asian content enthusiasts.
Forge Mutually Beneficial, Strategic Partnerships: Finally, through the co-production initiatives, the series was able to facilitate a number of strategic alliances at local, national and regional levels to maximize value to the different stakeholders of the series.
This is exemplified through the partnership between GagaOOLala, the Bureau of Cultural Affairs Kaohsiung City Government and the Tourism Bureau of Kaohsiung that allowed for arrangements for First Note of Love to be predominantly filmed in Kaohsiung, the largest port city of Taiwan and a growing destination for the nation’s music, live events and entertainment industry. Home to the Kaohsiung Pop Music Center, one of Taiwan’s most recent and advanced musical landmarks and a host city to world-class concerts from renowned national (Jolin Tsai, A-Mei, Mayday), regional (Highlight, Ronald Cheng, Tanya Chua), and international artists (Coldplay, Ed Sheeran, Blackpink, Bruno Mars), Kaohsiung’s vibrant cultural spirit and many attractions are showcased throughout the series.
Select footage and stills from GagaOOLala’s First Note of Love shot in Kaohsiung, Taiwan.
Furthemore, GagaOOLala also initiated a collaboration with the Kaohsiung Film Festival to explore the opportunities behind offline, experiential events with the premiere of the final two episodes of the series at the film festival on October 12, 2024 to much buzz, fanfare and audience engagement.
Select shots of First Note of Love’s cast and crew appearance and interaction at the Kaohsiung Film Festival 2024.
Embracing the Power of Collaborations: A Call to Action
As Hollywood continues to scale back content production, the global entertainment industry is increasingly turning to international collaborations to fill the gap. Asia, with its rich storytelling traditions and growing production capabilities, is positioned to lead this charge. It is through strategic co-productions, platforms like ours can not only produce culturally resonant content but also expand our reach and influence globally. GagaOOLala's commitment to co-productions extends beyond First Note of Love. We are actively seeking new partnerships and collaborations to:
Develop a Diverse Slate of Original Content: We are constantly exploring fresh genres, formats, and storytelling approaches, pushing the boundaries of LGBTQ+, BL and GL representation on screen.
Invest in Emerging Talents: We are passionate about nurturing the next generation of LGBTQ+, BL and GL storytellers and on-screen talents and providing them with a global platform to share their stories.
Build a More Inclusive and Representative Media Landscape: We believe that authentic representation matters, and we are committed to amplifying the voices of marginalized communities around the world.
We invite producers, directors, brands, and potential partners to join us in shaping the future of global content creation. In an industry undergoing seismic shifts, international co-productions offer a path forward—one marked by collaboration, innovation, a willingness to share risks and rewards and a mutual commitment to telling stories that resonate with diverse audiences worldwide.
GagaOOLala: Where stories connect, and love transcends borders.
GagaOOLala's Strategic Demographic Targeting
Portico Media Brand Portfolio
The Portico Media Global Entertainment Ecosystem
For more details, please access our Corporate Deck at: Portico Media Corporate Deck
For any questions and information, please contact: akash@porticomedia.com
Sources and References:
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31) ContentAsia, 16 September 2024. US$250K up for grabs in new Asia film & script pitches; Taiwan’s TAICCA, Mediacorp, Rising Stories boost hunt for ideas
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33) ContentAsia, 29 April 2024. Q1 2025 filming for Taiwan-Korea co-development, “Good Job”; Korea’s KT/ENA/Studiogenie double down on local production
34) ContentAsia, 24 April 2024. Singapore-Taiwan co-pro “Love on a Shoestring” hits Netflix Taiwan top 10; first Mediacorp-TVBS production sets new tone for cross-border Chinese TV collaborations
35) Variety, 07 August 2024. LGBTQ+ global streamer GagaOOLala ties up with Warner Music Taiwan, Star Hunter Entertainment; 1st Taiwanese-Thai musical BL series, “First Note of Love”, premieres on 12 August
(This article represents a collaborative effort, integrating the advanced language processing capabilities of Google AI Studio and OpenAI's ChatGPT in its development.)