Japan’s premium VoD sector reached a significant milestone in 2025, expanding 15 per cent year-on-year to reach $7.2 billion (€6.07bn) in total revenue. The market is increasingly defined by layered monetisation strategies, including the expansion of ad-supported tiers and a strategic shift toward deeper local content, live events and sports, according to the Japan Online Video Consumer Insights & Analytics report released by Media Partners Asia (MPA) and its proprietary measurement platform, AMPD.

The Japanese landscape remains highly concentrated, with three players (Netflix, Prime Video and U-Next) commanding 50 per cent of total category revenue. Netflix maintained its revenue leadership with a 22 per cent share. Prime Video holds the largest subscriber base in Japan at 19.3 million, anchored to Amazon’s ecosystem flywheel, integrating e-commerce, retail data and video. U-Next, the leading domestic SVoD platform, captured 12 per cent of category revenue. Its vertically integrated model, bundling video with manga, music and exclusive sports coverage has created a defensible moat against global rivals.

The SVoD sector added 4 million net new subscribers in 2025, bringing the total (including YouTube Premium) to 67.9 million. Netflix led growth, fueled by its November 2025 KDDI bundle renewal and breakout local originals. Other key contributors included DAZN, largely through zero-cost integration into NTT Docomo’s ahamo MAX plans. Disney+ and Hulu Japan grew their footprint through their joint bundle.

The premium VoD category generated 8.1 billion streaming hours in 2025. While TVer (the broadcaster-backed AVoD player) maintained the largest share of viewing time at 23 per cent , Netflix led per-user engagement with the average user spending close to 20 hours per month on the platform. Japanese content remains the primary engagement pillar with 80 per cent of total viewership. Anime is a critical driver with Spy x Family (pictured) the top title of Q4 2025. Live-Action dramas and variety dominated the AVoD landscape through TVer, while Netflix (Last Samurai Standing) and Prime Video (The Golden Combi, Love Transit) contributed original hits. International content remains impactful; US series and movies reached 28 per cent of users, led by tentpoles such as Wicked, A Minecraft Movie and Netflix’s Stranger Things.

As the market matures, platforms are shifting focus toward high-impact event viewing. Netflix will make a major foray into live sports by exclusively hosting the 2026 World Baseball Classic, TVer will expand its FTA lead by streaming select events from the 2026 Winter Olympics, and U-Next will continue its aggressive sports expansion with upcoming women’s golf majors and Premier League coverage (2025-28).

Dhivya T, Lead Analyst and Head of Insights at MPA, commented: “Japan’s premium VoD market has reached a critical maturation point. Growth is no longer just about net adds, but sophisticated monetisation through ad-tier yields, telco bundling, and vertically integrated ecosystems. The entry of major players like Netflix into live sports and the continued dominance of local anime and drama suggest that the next phase of competition will hinge on event-driven engagement and premium local storytelling.”

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Tags: anime, japan, mpa, netflix, Prime Video