2023-06-22 03:42:44
Investing 3.2 trillion won in Korean content production over the next 4 years”
“Twice the amount announced so far from 2016… Support for next-generation creators”
“We need to cooperate with ISP-CP for a better creative ecosystem” to a question regarding network usage fees
Netflix co-CEO Ted Sarandos makes an announcement at a press conference held at the Four Seasons Hotel in Jung-gu, Seoul on the morning of the 22nd. (Photo = Netflix)
[서울파이낸스 이도경 기자] Netflix announced that it would invest regarding $2.5 billion (3.2257 trillion won) in Korean content over the next four years.
Ted Sarandos, co-CEO (CEO) of Netflix, said this at a meeting held on the morning of the 22nd at the Four Seasons Hotel in Jung-gu, Seoul, ‘Netflix and Korean content’.
CEO Sarandos said, “This is twice the amount Netflix has announced since 2016.”
Regarding the method of investment, he said, “In addition to the series we have been focusing on, we plan to invest in various fields such as entertainment and movies.” .
In particular, he said that he plans to focus on fostering next-generation creators to strengthen collaboration with the Korean creative community.
He said, “Netflix’s investment plan also includes training support for next-generation creators. In addition to already proven masters, we are helping young students build their careers with the Korea Radio Promotion Association.” From 2022 to 2025, The fact that one out of five Korean series and movies on Netflix is the debut of a new writer/director proves Netflix’s expectations for the growth potential of the Korean content market.”
Explaining the achievements of Korean creative works through Netflix, he said, “There is no place that has revived the faith of Netflix as much as Korea.” Content viewing has increased sixfold,” he said.
“Last year, dramas such as Carter, Now Our School, and The Glory were included in Netflix’s top 10 in more than 90 countries,” he said. Who would have known? This is the power brought regarding by the collaboration between Korean content producers and Netflix.”
Meanwhile, at the meeting, questions regarding Netflix’s network usage fee dispute with global ISPs (Internet Service Providers) and account sharing fees were raised.
First of all, regarding the network fee dispute, CEO Sarandos avoided an immediate answer, saying, “I think ISPs and CPs (content providers) should work together to create a better creative ecosystem.” He added, “Netflix has invested $1 billion (approximately 1.29 trillion won) in order to provide faster Internet access to more than 6,000 branches around the world, and plans to continue supporting it in the future.”
In addition, in response to a question related to the account sharing charge that Netflix is promoting, he said, “The new account sharing method will continue globally.”
Previously, last year, Netflix officially announced a policy of charging an additional fee for accounts shared with non-family members and conducted a pilot operation in some South American countries. Since then, it has been applied to the United States last month, and interest in the introduction of domestic account sharing fee has been gathered.
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