Meanwhile, new players in the online streaming context space, such as Apple, Disney and HBO, are expected to require more original content, and are also aiming at Asian markets. Content is usually conducted six months before an OTT starts operations, Han said, adding that Disney is expected to start buying content Asian markets in the second half of 2020. The revision came after Netflix in April sued South Korea’s internet network operator SK Broadband, an affiliate of the country’s top mobile carrier SK Telecom Co Ltd. Walt Disney (DIS) and Apple plan to launch new video services this fall—Disney+ and Apple Plus. The server responded with {{status_text}} (code {{status_code}}). The number of dramas Jcontentree supplies to Netflix will also expand under its new contract with the US firm, “We made a contract with Netflix to supply six to eight dramas annually – 22 to 23 dramas in three years from May 2020 to May 2023,” a Jcontentree official told Asia Times “Under the contract, we will only broadcast them via [cable channel] JTBC in Korea; Netflix will have overseas broadcasting rights.”. The report also stated that in February, NFLX had about 2.4 million subscribers in Korea—an almost fivefold increase from the previous year. Netflix’s South Korean business has played a major role in third-quarter growth. Your ability to comment is currently suspended due to negative user reports. All rights reserved. The company currently supplies two to three dramas a year to Nexflix. The NBA, which was the first pro league to suspend play amid the COVID-19 pandemic, made $1.5 billion less than it projected last season due to the pandemic and other factors,... (Reuters) - Former world number one Victoria Azarenka trounced Greece's Maria Sakkari 6-1 6-3 on Saturday to reach the final of the J&T Banka Ostrava Open, where she will meet... We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. CJ ENM Group owns various film and music assets, operating 17 TV channels, including tvN, Mnet, and OCN, as well as cineplexes. 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 interest reflects a growing global appetite for K-drama. Your email address will not be published. I think Netflix is more powerful than other movies and series hosting videos website. Are you sure you want to delete this chart? The source cited data that could be disclosed later this week when a Netflix representative is expected to appear for South Korea's annual parliamentary audit during which the company's investment is likely to come up. South Korea is one of Netflix’s (NFLX) most prominent international markets. Eugene’s Han said that Netflix’s cooperation with Studio Dragon and Jcontentree is intended to secure content in advance of its rivals. Netflix said 46% of its net new global paid customers in the third quarter came from the Asia Pacific region, where revenue rose 66% from last year, primarily Japan and South Korea, the company reported in a letter to investors on Tuesday. Overall, Netflix now serves more than 195 million paid subscribers. As a stepping stone, it is currently discussing a US remake of its cop drama “Live,” with 20th Century Fox. The review aggregator website Rotten Tomatoes reported an 93% approval rating with an average rating of 8/10 based on 14 reviews. According to Han, Disney will target the European market in the first half of 2020 and Asian markets in 2021. Netflix TOP 10 in South Korea in 2020. Asia Times Financial is now live. Of these, two-three will be Netflix Originals. No K-pop concerts are currently being held in China, no K-games are receiving approvals and no new K-dramas are being aired. 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. It is also discussing remakes of some of its biggest Korean hits with a range of other US distribution firms. Since 2015, the world's largest subscription streaming video platform has invested nearly US$700 million financing partnerships and co-productions, the source said. It may therefore take some time before it appears on our website. Netflix said 46% of its net new global paid customers in the third quarter came from the Asia Pacific region, where revenue rose 66% from last year, primarily Japan and South Korea… Since THAAD, concerns about the evaporation of the  China market “have been growing in the South Korean content industry,” Han Sang-woong, an industry analyst at Eugene Investment and Trust, noted in a report. More Catalogs on this page. Where can I … Plans range from KRW9,500 to KRW14,500 a month. Assuming ten episodes in a season, the production cost of American dramas is around 40 billion won,” Han said. The US version of “Live” will portray police work through the eyes of a young African-American policeman in a hardore area of Washington DC.

Please note that all comments are pending until approved by our moderators. Jcontentree is a branch of Korea’s Joongang Group, which owns cable TV channel JTBC, Korea’s number-two newspaper, various magazines and multiplexes. South Korea in May passed the revision to the country’s telecommunications business act, dubbed as “Netflix law,” to require all content providers including foreign companies to share network cost burden with local internet service providers. The group’s recent music video for “How You Like That” broke an all-time YouTube record as the most watched video in a 24-hour period with 86.3 million views. Since late 2019, it has ramped up investments and landed multi-year content partnerships with Korea’s major studios including CJ ENM/Studio Dragon and JTBC for access to their Korean shows. According to Studio Dragon, 53 recommendations to buy its stock have appeared; no analyst recommends selling the share. Global OTTs are drawn not just to the global trendiness of Korean dramas, but also their cost competitiveness. The two companies failed to reach an agreement on the U.S. streaming giant’s use of SK Broadband’s internet service without sharing network cost despite SK Broadband’s expansion of network infrastructure to support Netflix’s increasing traffic. Sign up to create alerts for Instruments, Studio Dragon is planning a major overseas expansion by setting up a base in the US. To this end, it plans to set up a local branch company in the US in the second half of this year. Apple TV+ and Disney Plus both jumped into the sector in November. Eighteen securities houses recommended Jcontentree shares with no sell recommendations, Jcontentree said. By registering, you agree to our T&C and Privacy Policy. (Graphic: https://tmsnrt.rs/3jhdq7e). The gift link for this subscriber-only article has expired. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion. FILE PHOTO: The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas California, Avoid profanity, slander or personal attacks. South Korean producers expect to benefit from upcoming competition between Netflix and new entrants in the OTT (“Over the Top” – ie direct, paid content streaming, via the Internet) market. NEW YORK/SEOUL (Reuters) - 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 (NASDAQ:NFLX)'s biggest source of growth in the international markets, a source familiar with the matter said. The company has helped fuel and is fueled by the global popularity of the pop culture machine of South Korea.

Economic Events and content by followed authors, South Korea's pop culture machine boosts Netflix's international growth: source. Watch Netflix on your smartphone, tablet, Smart TV, laptop, or streaming device, all for one fixed monthly fee. Netflix said 46% of its net new global paid customers in the third quarter came from the Asia Pacific region, where revenue rose 66% from last year, primarily Japan and South Korea, the company reported in a letter to investors on Tuesday. Read ATF now.