Netflix Co-CEO Ted Sarandos Says $2.5BN Korean Investment Won’t Exploit Local Industry, Amid Pushback From Lawmakers

– and the streamer announced a $2.5BN investment in Korean content in April.

Last week, the Korean government announced plans to provide $390M to help local streaming platforms compete with global streamers, including Netflix, as they tackle soaring production costs. “In the longer term, we need to learn, adapt and innovate together. It’s not always going to be easy as the audiences are incredibly demanding…but we are committed to the partnership because we have seen first-hand how much our members love K-content,” he continued.

Don Kang, Netflix’s vice president of Korean content, said the company is planning to invest more in Korean films and non-fiction, after initially focusing more on series.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ted Sarandos Calls Korean Content ‘Surprising and Unpredictable’ as Netflix Prepares to Double Investment in Shows, Industry DevelopmentThere’s more to Korean TV than a greenlit second season of “Squid Game” and Ted Sarandos, Netflix co-CEO, shed new light on what’s making the “Korean wave” worthy of large-scale c…
Source: Variety - 🏆 108. / 63 Read more »

Netflix CEO says $2.5 bln Korean investment won't exploit local talentNetflix co-CEO Ted Sarandos pledged on Thursday that its bumper investment in South Korean content would not bypass young local talent, after calls by some lawmakers for the streaming giant to share more profits with creators.
Source: Reuters - 🏆 2. / 97 Read more »