'Bangguseok Gangja' Only Watches American TV? Korean Content Closely Follows... Netflix Market Share Ranks 2nd

Global Market Analyst Ampere Highlights Korean Content
"Korean Programs Are the Most Popular on Netflix After the US"

Analysis shows that Korean content on the paid streaming service (OTT) Netflix is enjoying hot popularity following Hollywood content from the United States. On the 15th (local time), Yonhap News reported, "Global media market analysis firm Ampere released a report titled 'Korean programs are the most popular content on Netflix excluding US content.'"

Actors IU and Park Bo-gum are posing at the Netflix 'Poksak Soksassuda' press conference held on the 5th of last month at the Conrad Hotel in Yeouido, Seoul. Photo by Yonhap News.

According to the analysis of Netflix viewing data by the company, since 2023, Korean content ranks second in total Netflix viewing time with a share of 8-9%, following US content, which holds the top spot with 56-59%. Next were content from the UK (7-8%) and Japan (4-5%). These two countries have traditionally maintained high shares. The UK has supplied high-quality drama series to the global market following US Hollywood, while Japan has secured a worldwide fan base through various animation series.

However, with the recent surge in popularity of Korean content, it has surpassed UK and Japanese content. Ampere stated, "Currently, Korea accounts for 85 (17%) of the 500 most popular non-US programs and movies on Netflix."

Representative hit works include the drama Squid Game Season 2, which recorded 619.9 million streaming hours in the second half of last year, as well as Mom's Friend's Son and Black & White Chef: Culinary Class War. Dramas released several years ago, such as Squid Game Season 1, Queen of Tears, and Crash Landing on You, continue to be steadily watched worldwide through OTT platforms.

On December 26 last year, the release date of Netflix original series 'Squid Game' Season 2, a sculpture of the Squid Game character 'Young-hee' and promotional banners were installed at Gwanghwamun Square in Jongno-gu, Seoul. Photo by Kang Jin-hyung

Ampere analyzed the success of Korean content as resulting from a "long-established content production and licensing strategy." The report stated, "More than half of the Korean works ranked in the top 100 on Netflix in the second half of last year were Netflix originals, 31% were Netflix exclusives, and the majority of these were provided by Korea's content powerhouse CJ ENM."

It added, "Netflix's decision to invest $2.5 billion (approximately 3.57 trillion KRW) in Korean content by 2028 will help sustain the Korean content boom," and "Korean content companies are also riding the global Hallyu wave." The report introduced examples of CJ ENM's large-scale investments and expanded collaborations with overseas studios.

In an interview with the US media outlet Variety, Ampere said, "Korean content has played a pivotal role in Netflix's global success by continuously driving viewing hours with hits like Squid Game and Kingdom," and added, "Netflix will continue to invest in high-quality Korean works, including original productions and licensed content."