2023-04-25 02:57:41
Netflix will invest 2.5 billion dollars (2.22 billion francs) in South Korean content over the next four years, announced the boss of the streaming giant Ted Sarandos in a press release sent to AFP on Tuesday following a meeting with South Korean President Yoon Suk Yeol in Washington.
“Netflix is pleased to confirm that it will invest $2.5 billion (€2.3 billion) in Korea, including in the creation of Korean series, films and unscripted programs over the next four years,” said Ted Sarandos in a press release sent to AFP on Tuesday. “This investment plan is double the total amount Netflix has invested in the Korean market since we launched our (platform) in Korea in 2016,” he added.
Growing success
In recent years, South Korean content has become increasingly popular internationally. More than 60% of Netflix users watched at least one program from South Korea in 2022, according to company data.
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Netflix, which spent more than $750 million developing South Korean content between 2015 and 2021, previously said it would increase its output of South Korean programming, without providing further details.
Yoon Suk Yeol, who arrived in Washington on Monday for a six-day official visit, welcomed what he described as a “very meaningful” meeting with Ted Sarandos, according to a transcript provided to AFP by the president’s office. south korean.
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