Netflix’s Don Kang Talks Squid Game, K-Content Slate

Don Kang, Netflix’s VP of content in Korea, showcased what’s driving the streamer’s local programming strategy on the heels of Squid Game’s success at APOS today.

Netflix is due to drop season three of Squid Game this week. The first two seasons have logged almost 600 million views to date, Netflix says. While the show’s global success has been heartening to the team, Kang noted that the priority remains keeping the domestic audience top of mind. “We have a home-grown local team, embedded in the creative industry, and we focus on local stories, working with local creators,” Kang said.

Kang has been tracking the rising interest in Korean content over the last few years, notably outside of Asia. For many international audiences, Squid Game was their first exposure to Korean content, Kang said. “Since then, more than 80 percent of Netflix members have watched Korean content. It’s a testament that a great show on Netflix can really expand that audience.”

On what’s guiding the strategy at Netflix’s Korean team, Kang noted, “It’s really about being in the game, being with the creators, understanding what kind of stories they want to tell and finding unique voices authentic to the local audiences,and enabling them to tell new stories that were not possible before.”

Kang also weighed in on Netflix’s subscriber traction in Korea following the launch of an ad-supported tier. “About 50 percent of all the new members are signing up to the ad tier. It gives our audiences and members a choice of how much they want to pay and a great opportunity for the brands to connect to the stories on Netflix.” As an example, he referenced a collaboration with Kia on the second season of Squid Game.

“We want to create this sustainable ecosystem that works for everyone. We try to find new writers, directors and cast,” Kang said, noting the platform looks to new talent for 20 to 30 percent of its local projects. “You need that healthy pipeline of newcomers.”

Addressing a perceived lull in the Korean creative economy, Kang said, “In terms of the volume of production that’s coming from Korea, there was a time where there were maybe 100 to 150 series per year. That happened during a phase when a lot of series were being exported to China. We saw a lot of global players interested in Korean series at that time. China was a big market for us. We’ve come out of that stronger, with more variety of stories. It’s a phase. It’s a time where we need to practice discipline in terms of managing costs… When we find something that is interesting, we think long and hard about what the appropriate size of the investment is. We try to find the right size budget, and as long as we can all be disciplined together, we are very confident” about the health of sector.

Kang also weighed in on the expansion beyond scripted into nonfiction, helping to grow its audience base. “That’s one of the ways that we can enrich the ecosystem and drive more love toward Korean content.”