Entertainment NewsNetflix Dedicates $2.5B USD to Developing Original Shows and Movies in South...

Netflix Dedicates $2.5B USD to Developing Original Shows and Movies in South Korea

Date:

Netflix has allocated $2.5 billion to produce original movies and shows in South Korea.

Netflix has announced that it intends to invest $2.5 billion in creating Korean entertainment content due to the popularity of shows and movies like Squid Game from South Korea.

Over the next four years, the streaming service will use the billions of funds to develop and produce new series and films, which is twice the amount initially invested in South Korea in 2016. Netflix plans to create content catering to both Korean and international audiences.

South Korean President Yoon Suk Yeol recently met with Netflix co-CEO Ted Sarandos in the United States. 

“We were able to make this decision because we have great confidence that the Korean creative industry will continue to tell great stories,” Sarandos said on Monday. 

“We were also inspired by the President’s love and strong support for the Korean entertainment industry and fueling the Korean wave.”

spot_img
Megan Diane
Megan Dianehttps://www.projectcasting.com
Hi, I'm Megan Browne, the Head of Partnerships at Project Casting - a job board for the entertainment industry. As Head of Partnerships, I help businesses find the best talent for their influencer campaigns, photo shoots, and film productions. Creating these partnerships has enabled me to help businesses scale and reach their true potential. I'm excited to continue driving growth by connecting people with projects they're passionate about.

More like this
Related

Why Alicia Silverstone Took a Break from Acting—with Intentional Comeback

Takeaways Alicia Silverstone stepped away from acting due to the...

Bright Lights, Orange Vibes: Taylor Swift’s “Showgirl” Era Illuminates the Stage

Takeaways Taylor Swift’s upcoming album, The Life of a Showgirl,...

‘How to Get Cast in ‘Fight for 84’ Starring Jamie Foxx

Jamie Foxx Steps Into the Ring in Netflix’s Upcoming...

How to Get Cast on ‘Hana Khan Carries On’

Hana Khan Carries On is set to bring a...