Ted Sarandos, co-CEO of Netflix, paid a successful visit to Seoul, where he met with South Korean Prime Minister Han Duk-soo.
The purpose of the meeting was to discuss Netflix’s investment plans and cooperation with the country’s entertainment industry.
According to Sarandos, Netflix’s plans include, 2.5 billion dollars investment in 4 yearsTo have more content production from the Asian country and that is to win the hearts of its users.
In addition to the series, which are in a catalog of more than 30 productions, and 34 more titles are predicted to be released this year. The idea is to make films, contests. and other types of content in the streaming app grid.
Netflix K-dramas such as The Glory, Black Knight, The Good Bad Mother and Love to Hate You took the rank of foreign language content throughout 2023. popular series: Squid Game.
According to Netflix data, “more than 60 percent of all Netflix members watched Korean dramas or movies in the last year,” the company said.
According to Sarandos, Netflix has pledged to use these resources to fund educational programs for young local talent, while also connecting with those who want it. work in the production and pay the creators and producers fair.
According to Reuters, the firm’s commitment to this would also be made with the Korea Radio Promotion Association.
The company will seek to expand its growth and differentiate itself from its competitors with an offer that allows one-fifth of Netflix users to watch a South Korean program, 90 percent of which are foreign.
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