Korean dramas are gaining popularity by the day. In recent times, the South Korean entertainment industry has given us some excellent piece of work to watch. To give a boost to it, Netflix has decided to spend nearly $500 million on them this year. Here are all the details about the same.
THE DECISION
Netflix has decided to produce a lot of Korean shows with this $500 million Dollar. The main shows that have been selected to be produced with this money are Moral Sense, Carter, D.P, etc. Netflix has decided to do this that they got 3.8million dollars through subscription from South Korea. The figures are from 2020. Almost 20% of Korean people have a Netflix subscription. Thus, investing in South Korean content will net in more South Korean viewers. More viewers mean more revenue for Netflix. In fact Netflix is anticipating that they will make $1 Billion dollars from this investment. That is a straight away profit of another $500 million dollar. This whole announcement has been made as Netflix’s Asia Pacific Plan. The Korean part will include reality shows, documentaries and Sitcoms. In addition to all of this Netflix is also planning to establish 2 new studios near Seoul on lease basis.
With such a big entertainment company like Netflix investing so much in Korean drama we can be sure that in near future we will be able to watch top quality Korean content.
