Southeast Asia has become a popular destination for startups, especially for those looking to innovate in areas like mobile payments, gaming, and blockchain.
With a population that is young and highly engaged in mobile devices, the region is prime for early adopters of next technology and entertainment options. Sports like boxing and MMA have become increasingly popular in the region and start-up unicorns like Singapore-based One Championship are running with it.
About to hold its 100th event, One Championship has focused relentlessly on capturing a young Gen Z and Millennial Audience through their phones and popular apps like Instagram, which drives interest from investors due to advertising and brand opportunities.
The opportunity is so massive that One Championship’s recent investors include international giants such as Singapore Airlines, Singtel, Certis CISCO, and more.
This helps validate the sport for mainstream sponsors that are not afraid of the stigma surrounding combat sports previously seen in the early 2000s. An additional search on CrunchBase reveals over 1,200 Asia-Pacific Media and Entertainment companies, with many being founded in Southeast Asia.
While they’re interested in other revenue streams, there has to be more to gain besides advertising dollars. Sports fans seem to always be ready for the next thing and it’s hard not to ask “what’s next?” for combat sports. There are many possibilities, including virtual reality integration and even blockchain.
Competition for Southeast Asia’s next action star
Straight from Hollywood, a company called Fight to Fame is looking at the region for a series of competitions to find Hollywood’s next action star.
The concept will utilize blockchain technology to merge technology and entertainment by engaging fans with the power to decide who has what it takes. As the only action star factory in Hollywood, Fight to Fame is looking to build a new generation of world champions and change the relationship between people and events as well as people and movies.
The undertaking is supported by a Reality TV show, launching 2020 which will take 50 hopefuls and place them in a multi-round competition show where they will be tested on everything from fighting skills to handling media events. The show itself is the launch point for mainstream success, the winner will be awarded a contract from a major Hollywood studio to star in an upcoming action movie.
The company’s innovative tech is based on blockchain technology, cryptocurrency creating a top-level design for light assets and light assets realization, and the world’s first blockchain + sports + film business profit model, which is expected to set standards for films and events on a global scale.
Recently at an event hosted in Bangkok, Thailand, the team made major announcements to those involved in the project, including unveiling a blockchain platform for engagement between fans and fighters and a reality TV show.
Champion Ambassadors Roy Jones Jr., Chris Van Heerden, and Rigan Machado have also signed onto the project to help find unknown fighters around the world to participate and will be helping mentor through the TV show.
Additionally, during this Thailand trip, the team met with hopefuls from the area who were eager to show off their moves and apply for the competition.
Also Read: The best ways to find a local partner in Southeast Asia for your company
“I was so heartened to see the huge public enthusiasm for Fight To Fame and our talent search during my visit to Asia,” said champion boxer and Ambassador Chris Van Heerden. Fight to Fame is currently accepting applicants for their Reality TV show.
What is next for Southeast Asia’s entertainment industry?
According to PwC’s Global Entertainment and Media Outlook 2017-2021, Southeast Asia is growing so much in popularity that it is actually becoming a competitive market for media and entertainment companies. Indonesia makes up one of the world’s most promising markets.
The report forecasts that by 2021, the revenue growth of entertainment and media in Indonesia will reach 10% or over $8 billion with internet video making the largest contributor at nearly 30. Internet video produced revenues are estimated to reach $85 million for Indonesia in 2021.
According to various senior consultants, there are a few key things companies need to do to make sure they are competitive. For one, user experience is critical as product users in Southeast Asia have strong expectations. Second, engagement with fans and consumers will be very important moving forward. Passionate fans typically mean stronger sponsor proposals.
Lastly, as more direct to consumer models arrive on the scene, greater choice and user control will be desired. Expect to see companies, like Fight to Fame, create business models where fans have more of hands-on experience and contribution.
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