Netflix to spend $500 million more to line up original shows, movies in South Korea

Reuters
Washington DC, USA Published: Feb 26, 2021, 10:50 AM(IST)

Netflix Photograph:( Twitter )

Story highlights

Netflix has been spending heavily on developing original content as it faces intense competition from other streaming platforms

Netflix Inc said on Thursday it plans to invest $500 million on original movies and TV shows in South Korea this year, as the streaming giant expands in one of the fastest-growing markets in Asia.

The company has built a pipeline of Korean original content including sci-fi thriller "The Silent Sea", reality series Baik`s Spirit and sitcom "So Not Worth It", Netflix said in a blog post. 

Halle Berry to produce and star in Netflix sci-fi thriller 'Mothership'

Netflix, which had 3.8 million paid subscribers in the country at the end of 2020, has already invested nearly $700 million, feeding off the global popularity of the pop culture machine of South Korea.

It has created more than 70 Korean-made shows, including the hit zombie thriller "Kingdom" and documentary series "Black Pink: Light Up the Sky" about the highest charted female K-Pop act. 

Reboots, classic shows, new releases: Here's everything coming to Paramount+

The streaming pioneer enjoyed a boom in subscriptions last year as people around the globe were largely stuck at home due to COVID-19 restrictions.

Netflix has been spending heavily on developing original content as it faces intense competition from other streaming platforms including Walt Disney Co`s Disney+, HBO Max from AT&T Inc and Apple Inc`s Apple TV+.

Read in App