Netflix is planning to spend $500 million to produce original shows and films in Korea.
They have invested $700 million since 2016 to produce South Korean content and have made 80 films and shows in total. Through this, Netflix is trying to break into the Asian market. Currently, they have a foothold in North America, Latin America and Europe and Asia is their fourth-largest market. But the population in Asia is much larger than in North America, Europe and Latin America. Evidently, the market hasn’t been tapped yet. Till now Netflix has, in the past couple of years, created above 200 original Asian films and shows. The consumers increased last year from 9.2 million to 25 million. Most of the numbers are primarily from Asia and particularly from Japan, India and South Korea.
South Korea content is also popular in South East Asia and Japan. Netflix original series like “Kingdom” and “Love Alarm” has been very popular.