[Features-reporter] Prominence of Korean content on Neflix hampers domestic production platforms

Streaming juggernaut Netflix is enjoying a growing population of Korean viewers.

and content from Korea is becoming more prominent on the OTT service.

With growing numbers of Korean original series released on the global platform, there is the positive effect of consistently spreading Hallyu content, but what does this mean for local production and distribution platforms?

Lee Eun-jin tells us more.

From the Emmy-winning series "Squid Game" and 2022's "The Glory," to the most recent popular series "When Life Gives You Tangerines"

When Netflix first launched in Korea back in 2016, it was unimaginable that in just 10 years, Hallyu would be actively promoted globally through so many Korean original series and films on the platform.

According to a report released by London-based analytics firm Ampere Analysis, their analysis of Netflix viewing data showed South Korean content to be consistently among the most widely consumed content globally, and since 2023, it has been the second-most watched, behind US content.

The report also said that of the 500 most popular non-English titles on Netflix, 85, or 17 percent, were Korean.

And more than half of the top 100 Korean titles were Netflix originals.

The report projects that Netflix's 2-point-5 billion U.S. dollars commitment to South Korean content from 2024 to 2028 will help maintain this content boom.

However, this isn't all good news, particularly for the domestic production ecosystem, including local OTT platforms.

For example, "Weak Hero Class 1" was produced as a Wavve original, on a domestic online streaming platform.

But for its second season, Netflix stepped in for the production of "Weak Hero Class 2", which premiered on April 25th.

"I'm very happy to be able to show the second season of 'Weak Hero' to a global audience."

Concern is rising in the industry that Netflix is sucking in the market like a black hole.

There is growing active support for production from major domestic public broadcasters, but this may not be enough to prevent diminishing competitiveness in the industry.

As Netflix becomes a more prominent platform for the spread of Hallyu, worries are growing as to whether existing domestic production platforms can co-exist.

Lee Eunjin, Arirang News.