Netflix CEO says $2.5 billion Korean investment won't exploit local talent

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SEOUL : Netflix 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.South Korea has created some of the Californian company's biggest shows

SEOUL : Netflix 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.

"Between 2022 and 2025 for example, one in five of our titles made for Netflix will come from a first-time writer or first-time director," he told a press conference in Seoul. Sarandos, who is on his first visit to South Korea as co-CEO, said Scanline and Eyeline Studios Korea, a Netflix subsidiary, would invest $100 million in local content over the next six years, which is additional to the $2.5 billion announced in April.

South Korea has produced four of Netflix's 10 most-watched non-English language series, including"Squid Game","The Glory" and"Extraordinary Attorney Woo".

 

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