Ted Sarandos, the co-CEO of Netflix, had a successful visit to Seoul, where he met with South Korean Prime Minister Han Duk-soo.
The idea of the meeting was to discuss Netflix’s investment plans and its cooperation with the country’s entertainment industry.
Among the Netflix plans is, according to Sarandos, invest 2.5 billion dollars in a period of four yearsto have a greater production of content from the Asian country and that is conquering the hearts of its users.
In addition to the dramas that extend in a catalog of more than 30 productions and that this year another 34 titles are estimated to be released. The idea is to have movies, contests and other types of content on the streaming app grid.
Netflix K-dramas like The Glory, Black Knight, The Good Bad Mother and Love to Hate You have taken the ranking of views of foreign language content throughout 2023. But the catalog extends even with Parasites, the movie Oscar winner in 2020 for the popular series: The Squid Game.
According to Netflix data, “more than 60 percent of all Netflix members watched Korean shows or movies in the past year,” the company said.
Team of the film ‘Parasites’ collecting the Oscar for Best Picture.
According to Sarandos, Netflix also promised to use these resources to finance training programs for young local talent, as well as link those who wish to work in the production and give a fair payment to the creators and producers.
For this, according to Reuters, the firm’s commitment would also be with the Korea Radio Promotion Association.
The company will seek to extend its growth and differentiate itself from its competitors with the offer that has already made a fifth of Netflix users have seen a South Korean program and of these, 90 percent are foreign users.
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