Netflix’s co-CEO, Ted Sarandos, recently visited Korea to strengthen collaborations with Korean creators. The visit highlighted Netflix’s significant investment in Korean content and support for local talent. Sarandos addressed industry debates, emphasized partnerships, and engaged with key officials to expand relationships.
Netflix’s $2.5 billion investment over four years in Korean content aims to elevate Korean storytelling globally. It includes television series, films, and unscripted shows, alongside training programs for aspiring filmmakers. Sarandos:
A staggering 60 percent of our members have now watched one Korean title — with viewing of K-content up sixfold globally in the last four years. Take just one genre — romance: 90 percent of K-romance viewing now comes from outside Korea. And last year, our Korean movie Carter and two TV shows — All of Us Are Dead and The Glory — hit the Netflix top 10 in over 90 countries. Of course, nothing quite beats Squid Game — the biggest TV show in history on any metric we’ve ever seen.
Supporting local talent, Netflix partnered with the Korea Radio Promotion Association to provide production experience to Korean students. The company also nurtures young talents in post-production through its Scanline training programs.
Collaborations with local players, like renowned VFX studio Westworld, demonstrate Netflix’s commitment to leveraging Korean expertise in delivering exceptional content.
Sarandos addressed sensitive topics such as profit-sharing structures and intellectual property rights, seeking transparency and mutual solutions.
The visit aimed to influence high-level decisions regarding Netflix’s conflict with SK Broadband over network usage fees.
Netflix remains committed to open dialogue and negotiation as it continues to invest in Korean content and foster collaborations.
When we make deals, we guarantee our studios and creators to be compensated fairly. It’s a competitive market, and we compensate very top of the market. In general, it’s important to us that we remain competitive and promote a healthy ecosystem. We will provide sufficient support. And in the case of a show’s success, we make sure that creators are compensated in a right manner in the next season.
In summary, Sarandos’ visit underlines Netflix’s dedication to boosting Korean collaborations. The substantial investment, support for local talent, and emphasis on partnerships showcase Netflix’s commitment to elevating Korean content globally.
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