FILE PHOTO: Small toy figures are seen in entrance of diplayed Netflix brand on this illustration taken March 19, 2020. REUTERS/Dado Ruvic/Illustration
(Reuters) – Netflix Inc stated on Thursday it plans to speculate $500 million on unique motion pictures and TV exhibits in South Korea this 12 months, because the streaming large expands in one of many quickest rising markets in Asia.
The corporate has constructed a pipeline of Korean unique content material together with sci-fi thriller “The Silent Sea”, actuality collection Baik’s Spirit and sitcom “So Not Value It”, Netflix stated in a weblog put up. (bit.ly/3snrjpF)
Netflix, which had 3.8 million paid subscribers within the nation on the finish of 2020, has already invested almost $700 million, feeding off the worldwide reputation of the popular culture machine of South Korea.
It has created greater than 70 Korean-made exhibits, together with the hit zombie thriller “Kingdom” and documentary collection “Black Pink: Gentle Up the Sky” in regards to the highest charted feminine Ok-Pop act. (reut.rs/3qUpwrM)
The streaming pioneer loved a growth in subscriptions final 12 months as folks across the globe had been largely caught at dwelling on account of COVID-19 restrictions.
Netflix has been spending closely on growing unique content material because it faces intense competitors from different streaming platforms together with Walt Disney Co’s Disney+, HBO Max from AT&T Inc and Apple Inc’s Apple TV+.
Reporting by Tiyashi Datta in Bengaluru; Modifying by Saumyadeb Chakrabarty