Netflix to spend US$500m more to line up original shows, movies in South Korea

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Netflix to spend US$500m more to line up original shows, movies in S Korea

The streaming service, which had 3.8 million paid subscribers in the state at the end of 2020, has already invested well-nigh Usa$700 1000000.

FILE PHOTO: A smartphone with the Netflix logo lies in front end of displayed "Streaming service" words in this illustration taken March 24, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

Netflix Inc said on Th (Feb 25) it plans to invest United states of america$500 million (Due south$664 million) on original movies and TV shows in S Korea this year, every bit the streaming giant expands in one of the fastest growing markets in Asia.

The company has congenital a pipeline of Korean original content including sci-fi thriller The Silent Ocean, reality series Baik'south Spirit and sitcom Then Non Worth Information technology, Netflix said in a blog postal service.

Netflix, which had three.8 million paid subscribers in the country at the end of 2020, has already invested nearly US$700 million, feeding off the global popularity of the pop culture machine of South korea.

It has created more than than seventy Korean-made shows, including the hit zombie thriller Kingdom and documentary series Black Pink: Light Up The Sky about the highest charted female Yard-Pop act.

The streaming pioneer enjoyed a nail in subscriptions final yr as people around the globe were largely stuck at dwelling due to COVID-19 restrictions.

Netflix has been spending heavily on developing original content every bit it faces intense competition from other streaming platforms including Walt Disney Co's Disney+, HBO Max from AT&T Inc and Apple Inc's Apple Idiot box+.

(Source: Reuters)

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Source: https://cnalifestyle.channelnewsasia.com/entertainment/netflix-to-spend-us-500m-more-south-korea-original-show-movies-182901

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