CNN Business has mentioned Korean dramas (a.k.a. K-Dramas) as the main reason why Netflix was able to grow in the Asian market.
On the 4th (local time), CNN Business reported that “Netflix is doubling down on Asia with K-dramas and mobile-only deals.” They added that Asian shows including South Korea’s Kingdom have appeal worldwide, being “breakout successes around the globe.” It was also highlighted that “regional viewership for Korean content quadrupled last year compared to 2019.”
According to this article, Netflix has invested about 2.24 trillion won (approximately 2 Billion USD) in Asian content alone over the course of three years since 2018. On the 8th, Netflix cited the said article, stating that “Korea is strengthening its position as the global content powerhouse.” The streaming platform also mentioned the continued investment in Korean contents through the global online video service (OTT), the explosive growth of Korean webtoons, and the increased demand for indoor entertainment due to the spread of COVID-19 as the reasons behind its success.
After Netflix entered the South Korean market in 2016, it started to create original content in the country including Kingdom, Sweet Home. Dramas such as Extracurricular, Kingdom: Ashin of the North, and Glitch are currently in the process of production.