Squid Game, The Glory’s Humungous Success Makes Netflix Invest Whopping $2.5 Billion On Korean Content!
Korean dramas are going to rule Netflix within the upcoming years, and there’s little question about it. After the huge success of exhibits like Squid Sport, The Glory, Vincenzo and Bodily: 100, the web streaming large is all set to double the content material of Okay-dramas on its platform. Netflix has determined to speculate a large quantity in South Korea within the subsequent 4 years to supply extra Korean dramas and films. For extra particulars, scroll on.
In 2021, Netflix had introduced that it could make investments practically half one million {dollars} in South Korea to supply extra Korean content material. $500 million meant that South Korea would cowl round half of the streaming large’s $1 billion Asia-Pacific content material price range roughly. It appears that evidently followers should not getting over Okay-dramas anytime quickly, and the platform is aware of it nicely.
As per an area Korean press, Yonhap Information Company, Netflix will spend round $2.5 billion in South Korea for Korean content material, which is nearly twice what the streamer spent between its native launch in 2016 and now. The funding plan was first mentioned between South Korean President Yoon Suk Yeol and Netflix co-CEO Ted Sarandos.
Whereas speaking in regards to the funding, Ted Sarondos mentioned, “We have been capable of make this determination as a result of now we have nice confidence that the Korean inventive trade will proceed to inform nice tales. I’ve little question our funding will strengthen our long-term partnership with Korea and Korea’s inventive ecosystem.”
It wouldn’t be unsuitable to say that Ted Saradondos was the one to advertise Korean content material’s world recognition by bankrolling Bong Joon-ho’s $50 million science-fiction flick, Okja, in 2016. Ever since then, Korean dramas and films have gained widespread recognition because of their refreshing content material and authentic concepts.
This 12 months exhibits like The Glory and Bodily: 100 have grow to be one of the vital fashionable sequence on the OTT platform. Earlier, Squid Sport, Vincenzo and Crash Touchdown On You grew to become a worldwide phenomenon, and other people couldn’t cease speaking about them. Holding the success, recognition and potential of Korean content material in thoughts, Netflix is ensuring to determine itself because the dominant pressure within the South Korean leisure trade.
For extra such information and updates, keep tuned to Koimoi.
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