Megahit series 'Squid Game' as well as earlier hits such as 'Crash Landing on You,' 'Queen of Tears' continue to drive up viewership
South Korean content is the second-most watched content on Netflix, trailing only behind United States titles.
According to a new report released Tuesday by the London-based analytics firm Ampere Analysis, Korean content has consistently made up 8 to 9 percent of global viewing hours on the platform since 2023 -- ranking second only to American content, which leads with 50 to 60 percent.
UK content followed in third place, making up 7 to 8 percent of total viewing, while Japanese titles captured 4 to 5 percent over the same period.
Ampere credited the continued global surge in Korean viewership to high-performing titles such as "Squid Game: Season 2."
Despite premiering Dec. 26, 2024 -- just six days before the year’s end -- "Squid Game: Season 2" became Netflix's most-watched show in the second half of 2024, with 86.5 billion views.
Other standout Korean offerings that drove up watch hours, according to Ampere, include the romance series "Love Next Door" and the hit competitive cooking reality show "Culinary Class Wars." Earlier hits such as "Squid Game: Season 1," "Queen of Tears" and "Crash Landing on You" were also pointed out as key contributors to the global trend in viewing Korean content.
South Korean shows' success on Netflix may be attributed to Netflix's established content production and licensing strategy, with more than half of the top 100 Korean titles on the platform being Netflix originals, and another 31 percent available exclusively on the streamer, said the report.
The report also highlighted entertainment powerhouse CJ ENM as a key player in K-content's boom on Netflix. The company’s strategic global partnerships, including deals with Warner Bros. Discovery and Fifth Season, are expected to further amplify the international reach of Korean content, the report said.
Looking ahead, Netflix’s $2.5 billion investment plan for Korea, announced by Netflix's co-CEO Ted Sarandos in 2023, is set to fuel the momentum, it said.
The investment, to be rolled out between 2024 and 2028, will go toward both content production and training programs aimed at nurturing a new generation of Korean creators -- both in front of and behind the camera. The figure is almost double the total amount Netflix has invested in the Korean market since its launch in Korea in 2016.
yoonseo.3348@heraldcorp.com
