Netflix Ups Investment in Korean Content

On the heels of Q1 financials showing that Asia remains a huge driver of its global streaming subscriber gains, Netflix says it will invest $2.5 billion in Korean content over the next four years.

Netflix co-CEO Ted Sarandos made the announcement during a meeting with South Korean President Yoon Suk-yeol. The investment will be deployed across series, films and non-scripted shows. It is twice the amount Netflix has invested in Korea since 2016, Sarandos noted.

“We were able to make this decision because we have great confidence that the Korean creative industry will continue to tell great stories,” he said. “We were also inspired by the President’s love and strong support for the Korean entertainment industry and fueling the Korean wave.”

Sarandos continued: “It is incredible that the love towards Korean shows has led to a wider interest in Korea, thanks to the Korean creators’ compelling stories. Their stories are now at the heart of the global cultural zeitgeist. I have no doubt our investment will strengthen our long-term partnership with Korea and Korea’s creative ecosystem. We are deepening our partnership with the Korean creative industry, which has produced global hits such as Squid Game, The Glory and Physical:100. With the partnership, we will continue to grow with the local industry while sharing the joy of entertainment with Korean storytellers to our fans around the world.”