Netflix plans to take a position an extra $2.5 billion in Korean leisure following the success of 'Squid Recreation,' 'The Glory,' and 'Bodily: 100'

• Netflix introduced its plan to take a position $2.5 billion within the subsequent 4 years to supply extra Ok-content.
• On Monday, Netflix co-CEO Ted Sarandos met with South Korean President Yoon Suk-yeol in Washington.
• Knowledge exhibits over 60% of all Netflix members devour Ok-content, stated Netflix per CNN.

Netflix has introduced its plans to take a position $2.5 billion in South Korean content material over the subsequent 4 years.

The funding sum is double the quantity Netflix has invested within the Korean market since its 2016 launch in South Korea, per the corporate’s press launch as we speak.

The announcement follows a gathering between Netflix’s co-CEO Ted Sarandos and South Korean President Yoon Suk-yeol on Monday in Washington, DC on a six-day state go to, per South Korean outlet Yonhap.

“It’s unbelievable that the love in the direction of Korean exhibits has led to a wider curiosity in Korea, because of the Korean creators’ compelling tales,” stated Sarandos within the press launch. “Their tales at the moment are on the coronary heart of the worldwide cultural zeitgeist.”

Worldwide hits on Netflix equivalent to “Squid Recreation,” “The Glory,” and “Bodily: 100” are among the many many initiatives which have drawn consideration to the Korean artistic business lately. 

The streaming big’s well timed investments have been driving a worldwide Ok-wave that is a long time previous, pushed by an curiosity in a large number of artistic content material together with Ok-pop and Ok-drama.

“We have been capable of make this resolution as a result of we’ve nice confidence that the Korean artistic business will proceed to inform nice tales,” stated Sarandos.