Streaming giant Netflix has lately emerged as the poster boy of Korean content in the world. They became more aggressive after Squid Game which proved to be as grand a success as HBO’s Game Of Thrones.
Netflix has now confirmed that they will be making a mammoth investment of $2.5 Billion on their Korean slate within the next four years. Mind you that the inception of Netflix Korea took place in 2016. $2.5 Billion is double the amount Netflix has spent in Korea since 2016.
So you can imagine what a massive investment decision this is.
This announcement came when Netflix co-CEO Ted Sarandos was with the President of South Korea Yoon Suk Yeol. The President is currently in the USA on a visit.
Ted Sarandos stated “We were able to make this decision because we have great confidence that the Korean creative industry will continue to tell great stories. 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.”
However, seeing how formal the meeting was, there wasn’t any announcement of new shows. But looks like a tsunami of content is coming from Korea which is all joy for the fans of Korean content.
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