South Korea’s pop culture machine boosts Netflix’s international growth -source

A zombie drama, a TV series about a supernatural nurse and one about an antisocial children’s book author helped turn South Korea into one of Netflix’s biggest sources of growth in the international markets, a source familiar with the matter said.

Netflix said 46 percent of its net new global paid customers in the third quarter came from the Asia Pacific region, where revenue rose 66 percent from last year, primarily Japan and South Korea, the company reported in a letter to investors.

The company is eager to demonstrate its big investments in the region as well as its role in making Korean pop culture popular more accessible outside of Korea.

Netflix’s South Korean business has played a major role in third-quarter growth. The world’s largest paid streaming video service now serves 3.3 million paid members in the region as of September 30.

Overall, Netflix now serves more than 195 million paid subscribers.

Source: https://interaksyon.philstar.com/hobbies-interests/2020/10/21/179099/south-koreas-pop-culture-machine-boosts-netflixs-international-growth-source/

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