NFLX - Netflix Bets Big On Smallest Southeast Asian Market Expands Local Content Production To Replicate 'Squid Game' Success | Benzinga
In a bid to replicate the success of its South Korean hit ‘Squid Game’, Netflix Inc. (NASDAQ:NFLX) is boosting its local content production in Southeast Asia.
What Happened: Netflix is increasing its investment in original programming in Southeast Asia, particularly in Indonesia and Thailand, reported Bloomberg. The streaming giant is looking to capitalize on the region’s large, young demographic and its potential for substantial growth.
Netflix’s Vice President of Content for Asia, Minyoung Kim, announced the company’s plans to expand its content offerings and produce more shows in the region.
"It is on us to make sure that these stories find audiences not only within their home country but also beyond domestic markets, enabling audiences around the world to discover the stories that they will love," Kim said.
Despite Asia Pacific being Netflix’s smallest market, accounting for approximately 11% of its 2023 revenue, the region presents a significant growth opportunity due to its large and youthful population.
Following the success of original shows from South Korea, such as ‘Squid Game’, and Japan’s pirate series ‘One Piece’, Netflix is implementing a similar strategy ...