Can Netflix Succeed in Korea?

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Netflix, the U.S. based content and media giant is expected to come to Korea early in 2016, signifying a possible shift in how Koreans watch TV and a possible catalyst for Korean programs to reach a global audience.

The streaming-service video content provider has announced an aggressive expansion plan into Asia in the next year, with the introduction of its service to Japan in September.

However, skeptics wonder whether Netflix has the ability to succeed in Korea, known for its finicky consumers.

Netflix has grown in part to its signature original series such as “House of Cards” and “Orange is the New Black”, series that are highly popular worldwide though relatively unknown here. Netflix has also promised to also include original Korean content as part of its deal to enter the market.

Korea also has an established VOD system in place and some wonder whether consumers will want to pay for its services, as many consumers here aren’t used to paying for content.

Whether Netflix can cut costs in content delivery and lower its spending for network usage is also key according to industry insiders.

Netflix operates in more than 50 countries with a subscriber base of 65 million, of which 23 million are outside of the US. It aims to expand into every significant global market — including China and India — by the end of 2016 according to CNBC.


 

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