Netflix’s Korean content struggles to replicate ‘Squid Game’ success
By Ryan General
Netflix is experiencing a decline in users as its Korean originals struggle to replicate the phenomenal success of “Squid Game.” While a few series have achieved the top spot in weekly global viewership this year, none have captured the widespread acclaim of previous hits like “Squid Game,” “All of Us Are Dead” and “The Glory.”
- Lack of buzzworthy content: Netflix saw its subscriber base shrink by 16% in South Korea, dropping from 13.06 million in December last year to 10.96 million in June, according to data from Mobile Index. This decline coincides with a lack of significant buzz around its newer series, as none have topped GoodData’s weekly buzzworthiness rankings this year. Critics point out that Netflix‘s focus on genre-specific content, especially action-thrillers, may be sidelining the diverse storytelling that originally fueled the K-drama wave.
- Recapturing the “Squid Game” magic: Netflix revealed its plans to produce a wider variety of Korean content last year, announcing a $2.5 billion investment planned over the course of four years. Experts say the highly anticipated second season of “Squid Game,” set to premiere in December, could help revitalize its Korean content and win back viewers. The streaming giant also has a slate of promising Korean content lined up for this year, including the crime thriller drama “The Frog,” “The Trunk,” the second seasons of “Gyeongseong Creature” and “Hellbound.”
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