Netflix Korean dramas are over the top! Netflix announces $2.5 billion investment in South Korea

According to reports, Netflix recently announced that it plans to invest 2.5 billion U.S. dollars in South Korea in the next four years (this investment is twice the total amount of local investment since Netflix entered the Korean market in 2016) to produce Korean TV dramas. , movies and variety shows.

In this regard, Netflix co-CEO Ted Sarandos said: "We can make this decision because we have full confidence in the Korean content industry and we will continue to produce great stories." He also said: "There is no doubt that we Our investment will strengthen our long-term partnership with Korea and the country's creative ecosystem."

According to analysts in the industry, Netflix, as a world-renowned streaming media platform, has made a large investment in South Korea, which will have a wide-ranging impact on the country's entertainment industry and digital content industry. For example, it will promote the development of the entertainment industry, thereby attracting more investment, creativity and talents; create a large number of job opportunities, which will help South Korea to increase the employment rate; bring a huge impetus to the digital content industry, and drive games, music, etc. and other related industries.

A few days ago, Netflix announced its latest performance report. The financial report shows that in the first quarter of 2023, Netflix’s operating income was US$8.162 billion, a year-on-year increase of 3.7%; the net increase of paid subscribers was 1.75 million, and the total number of streaming media paid users reached 232.5 million, which was lower than analysts’ expectations.