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: While the rest of the world transitioned fully to streaming, Japan maintained a massive market for physical CDs, DVDs, and Blu-rays for a long time, driven by collectors and exclusive idol merchandise.

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The COVID-19 pandemic was a watershed moment. With the collapse of live concerts, the industry pivoted hard to digital. Meanwhile, international streaming services (Netflix, Disney+, Amazon Prime) realized that Japanese content is a subscription retention tool. : While the rest of the world transitioned