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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Sangjin] Ahead of the release of 'Squid Game' Season 2, Netflix emphasized the global influence of Korean content and revealed various partnership plans to reduce subscription costs.
At a Netflix media briefing held on Monday at the Grand InterContinental Seoul Parnas in Gangnam, Seoul, Netflix highlighted that "80% of global Netflix users watch Korean content," underscoring the power of K-content.
According to the '2023 Content Industry Trend Analysis Report' by the Korea Creative Content Agency, the export value of the domestic broadcasting and video industry has grown at an average annual rate of 18.6% over the past five years (2018-2022). In the first half of 2023, the export value of the domestic content industry increased by 1.3% year-on-year to approximately $5.39 billion, making it the third-largest export item in Korea, following biohealth ($16.3 billion) and computers ($15.9 billion).
Netflix, which has been expanding its ad-supported subscription plans through partnerships with companies like Naver and SK Broadband in Korea, also announced additional partnership plans. A Netflix representative said, "We plan to expand partnerships with major operators to offer opportunities that suit our members' lifestyles."
According to Netflix, the global monthly active users (MAU) for its ad-supported plan is 70 million. In the 12 countries where the ad-supported plan has been launched, half of new subscribers have chosen this plan. The ad-supported plan offers lower subscription fees in exchange for 15-30 second ads during the video.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
