Netflix’s Korean Content Head Discusses ‘Squid Game’ Season 3 And Korea’s Production Lull

[ad_1] Simply two days earlier than the third and ultimate season of Squid Recreation launches on Netflix, the streamer’s head of Korean content material, Don Kang, appeared on stage on the APOS media and leisure summit to debate the wide-ranging cultural influence of Korean reveals, the Korean business’s manufacturing lull, in addition to Netflix’s advert tier efficiency within the nation.

Promotion efforts are in full swing for Squid Recreation, with the solid making appearances in New York and Los Angeles not too long ago — and an enormous Squid Recreation parade is about to happen in central Seoul on Saturday from Gwanghwamun to Seoul Plaza, co-hosted with the Seoul Metropolitan Authorities.

“At this level, I’m not targeted on any numbers or expectations or efficiency, however actually targeted on the delivering this nice finale for the followers, and delivering the superb work by the whole solid and crew,” mentioned Kang on the APOS summit, held in Bali, Indonesia. “I used to be simply in New York final week, for the New York premiere occasion, and 1000's of individuals confirmed up. It was simply actually thrilling to see the eagerness.”

Kang has labored at Netflix for seven years, after beforehand working in worldwide distribution at Korean conglomerate CJ ENM.

He has shepherded the record-breaking collection by three seasons, working with creator Hwang Dong-hyuk.

“My earlier job earlier than Netflix, I used to be doing worldwide distribution. I knew Korean content material was beloved exterior Korea, however principally within the APAC area, and it was virtually not possible to increase additional than that market,” mentioned Kang. “However ever since I moved to Netflix, I actually noticed this surge of worldwide fandom round Korean content material, particularly across the time of Squid Recreation. For most individuals exterior Korea, Squid Recreation was the actual first Korean collection that they actually watched. Ever since then, greater than 80% of Netflix members have all watched Korean content material and plenty of of them proceed to take action. It’s a testomony that a terrific present on Netflix can actually develop that viewers.

“From season one, it took us about three years to supply season two. That’s a comparatively very long time for a sequel,” added Kang. “There was a query of whether or not folks would present up. And what we noticed, the numbers have been unbelievable. The definition of views is drawn from the precise hours watched, and it was greater than 190 million views.”

In simply the premiere week, Squid Recreation‘s second season obtained greater than 60 million views and have become Netflix’s greatest present within the second half of 2024. Season 1 ranks as Netflix’s hottest present ever.

Nevertheless, the third season of Squid Recreation is premiering amid a time of nice concern and nervousness among the many Korean movie and tv business, with the business going through main points like excessive manufacturing prices and troubling theatrical figures. Korea’s field workplace to this point this yr has recorded its lowest attendance in 20 years.

When requested about these issues within the Korean content material business and the lull in manufacturing, Kang mentioned: “There was a time the place there have been anyplace between like a 100-150 collection per yr. That occurred throughout a part when lots of collection have been being exported to China and we noticed lots of international gamers starting to take curiosity in Korean collection. However I actually see this as a part as a result of we’ve seen a surge of manufacturing and rising manufacturing prices earlier than, when China was a very huge marketplace for us. When it stopped, everybody thought everybody was actually in huge hassle.

“It's a part. It goes up and it goes down, however I'm very assured sooner or later. I've many pals from the native business, sitting right here on this convention room. It's a time the place we have to follow self-discipline by way of managing prices. But in addition I do know, we’ve completed it earlier than, and can come out of this stronger,” added Kang.

Trying internally, Kang mentioned that he's optimistic that the platform can even have the ability to trip out this lull within the business.

“These manufacturing prices are decided by the manufacturing corporations, so after we discover one thing that's attention-grabbing to fee, we predict lengthy and laborious about what's the applicable dimension of the funding,” mentioned Kang. “We talk about and issues get finalized by the negotiations. We attempt to right-size the finances and so long as we will all train that self-discipline collectively, I’m very assured in regards to the future well being.”

Kang added that moreover working with veteran administrators, it's also essential to seek for new expertise and he goals for 20 to 25% of the streamer’s Korean titles to be works from new creators.

On the opposite aspect of price-related discussions, Kang shared that Korean audiences are taking on the streamer’s ad-supported tier at a price “related” to Netflix’s international price, with 50% of all new members signing as much as the advert tier.

“Our advert enterprise in Korea is monitoring much like what we’re seeing world wide,” mentioned Kang. “It offers our audiences and members the selection of how a lot they wish to pay for Netflix, and it additionally creates a terrific alternative for the manufacturers to connect with the tales on Netflix.”

On the partnerships entrance, Netflix has cast partnerships with Naver in addition to Korean automotive producer Kia.

Naver and Netflix unveiled a partnership in September final yr, with Naver additionally providing Netflix’s ad-supported commonplace plan as a part of its Naver Plus membership since November.

“Our single most essential measurement of success is engagement,” mentioned Kang. “With Naver, it was an progressive option to actually discover and interact with a brand new sector of audiences in Korea.”

Netflix additionally not too long ago commissioned a third-party survey of over 11,500 folks world wide about Korean content material, breaking down reputation and fandom, with a majority of those respondents coming from key markets just like the U.S., Brazil, France, India and Japan.

The report, titled “How Ok-Content material is Shaping International Perceptions of Korea,” discovered that Netflix members have been two instances extra more likely to be involved in Korean tradition, and Netflix members have been additionally twice as probably (63% of Netflix customers vs 36% of non-users) to indicate curiosity in watching Ok-Content material sooner or later.

Drama, adopted by romance after which motion, emerged because the most-liked style amongst Korean content material viewers exterior of Korea.

Kang identified that there's a constructive impact from Netflix’s Korean reveals and content material in producing curiosity about different elements of Korean tradition.

“The nice factor is that each one these reveals have Korean components — such as you get to look at Korean meals, you get to listen to the songs we sing, the locations that we go to,” mentioned Kang. “It actually impacts the best way the world sees and understands Korean tradition. We've a brand new research that reveals Netflix members have a a lot greater affinity in the direction of Korean tradition and are extra prepared to discover Korean merchandise than non-members.”