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Business deals

Japan's top streaming services to merge to take on Netflix, Amazon

U-Next, Paravi pairing to become country's No. 2 streamer

Two Japanese streaming services, U-Next and Premium Platform Japan, are joining forces in hopes of fending off deep pocketed overseas rivals.

TOKYO -- Video streaming service U-Next of Japan and domestic rival Premium Platform Japan (PPJ) announced on Friday plans to merge as they fight to survive in an increasingly competitive market dominated by overseas giants.

The two companies' merger on March 31 will create a leading Japanese video streaming service with combined sales of approximately 80 billion yen ($593 million) and more than 3.7 million paid subscribers, putting it in second place behind Netflix by market share in value terms.

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