netflix-pledges-$2.5-billion-to-make-authentic-korean-content-material

Netflix is among the largest producers in leisure, and it is able to broaden it reaches extra so than ever earlier than. After investing in anime just a few years again, Netflix has seen income return in pressure because the business has taken off within the final decade. Now, Netflix is able to spend money on a really completely different model of leisure because it has pledged to spend greater than $2 billion USD on Korean leisure within the subsequent 4 years.

The update comes from Ted Sarandos, the co-CEO of Netflix. Throughout a latest assembly at Blair Home with South Korea’s president Yoon Suk Yeol, Sarandos affirmed the location’s plans to spend money on South Korean content material. This resolution comes on the heels of main successes reminiscent of Squid Game, The Glory, and extra.

Based on this report, Netflix is now making ready to at the least double its finances for Korean content material because it started overseeing unique productions. “We have been capable of make this resolution as a result of we’ve got nice confidence that the Korean artistic business will proceed to inform nice tales,” mentioned Sarandos.

“We have been additionally impressed by the President’s love and powerful assist for the Korean leisure business and fuelling the Korean wave.It’s unimaginable that the love in the direction of Korean reveals has led to a wider curiosity in Korea, because of the Korean creators’ compelling tales. Their tales are actually on the coronary heart of the worldwide cultural zeitgeist,” Sarandos continued. “I’ve little doubt our funding will strengthen our long-term partnership with Korea and Korea’s artistic ecosystem.”

In fact, you possibly can see why Netflix is delving into Korean media so closely. The streaming service has turn into a go-to vacation spot for watching dramas and movies in a reasonably vast open market. Following the shutdown of DramaFever a number of years in the past, Viki Rakuten was one of many largest websites offering South Korean reveals to followers internationally. Now, Netflix has turn into a significant participant within the business because of mega-hits like Squid Game. Because the South Korean ‘Hallyu’ Wave churns on, followers can count on Netflix to spend money on much more goodies, so that you higher take a look at the service’s hottest dramas now earlier than extra drop!

What do you concentrate on Netflix’s new pledge concerning Korean leisure? Have you ever checked out any Ok-dramas on Netflix as of but? Share your ideas with us within the feedback part under or hit me up on Twitter @MeganPetersCB.

HT – Deadline

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