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As Home Subscriber Development Slows, Netflix Seems to be for Worldwide Viewers
Netflix (NFLX) is planning to spend $500 million on South Korean movies and TV exhibits this yr, one among its largest current worldwide investments. Because the streaming trade turns into extra crowded, Netflix desires to take care of its lead and is hoping that audiences world wide will probably be drawn to its South Korean content material.
Netflix hit the 200 million subscriber benchmark on the finish of 2020. Its subscriber development within the US has fallen just lately, so it’s doubling down on gaining worldwide subscribers. Over the past quarter of 2020, Netflix gained 2 million subscribers in Asia and 4.5 million in Europe, the Center East, and Africa. It added simply 860,000 within the US and Canada throughout the identical time-frame.
South Korean Media Features International Consideration
The South Korean leisure trade is gaining consideration on a worldwide scale. The movie Parasite made historical past eventually yr’s Oscars, turning into the primary non-English-language title to win greatest image. It additionally took house three different academy awards.
Different South Korean cultural exports are additionally gaining floor world wide. Ok-pop band BTS acquired a Grammy nomination and has topped billboard charts within the US. South Korean selection and comedy exhibits are additionally gaining worldwide followers.
Different Investments in Worldwide Content material
Netflix can also be pouring assets into native content material in Europe, the Center East, and Africa, in addition to different elements of Asia. The streaming large spent $400 million on native content material in India throughout 2019 and 2020 and it’s anticipated to announce one other vital funding in Indian content material subsequent month. Netflix can also be engaged on anime movies with Japanese firms and this content material is gaining followers worldwide.
Streaming providers have seen viewership numbers spike throughout the pandemic as folks have searched for methods to go the time at house. As vaccine rollout unfolds, there will probably be extra in-person leisure choices competing for folks’s consideration. There are additionally an rising variety of streaming platforms crowding into the area. Netflix sees worldwide content material as a technique to preserve its lead.
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