A new report just published by Ampere Analysis reveals the importance of South Korean content to Netflix globally, which accounts for 85 (or 17%) of the top 500 most popular non-US shows and films on the platform. Since 2023, South Korean content has been second only to US content for total viewing hours recorded, according to Netflix’s self-reported viewing data. As the streaming giant focuses on driving viewing time to support its ad-tier strategy and reduce subscriber churn, South Korean content’s impressive performance is increasingly significant.
Orina Zhao, Research Manager at Ampere Analysis says: “Ampere's analysis of Netflix viewing data confirms that South Korean content is now consistently among the most widely exported and consumed content globally. It plays a pivotal role in the streamer’s international success, driving both breakout hit titles (such as "Squid Game" and "Kingdom") and sustained viewing time. Netflix will continue to invest in and release high-quality Korean titles, including both original productions and licensed content, supported by exclusive distribution partnerships with leading local players. South Korean content owners are well-positioned to capitalise on the global Hallyu phenomenon, maximising worldwide audience reach and boosting international popularity through strategic distribution and collaborations.”
Netflix’s love affair with South Korean content is set to continue In the second half of 2024, South Korean content was streamed for 7.7bn hours, around 8% of all viewing on Netflix. This outpaces content from major markets, including the UK, Japan, and Spain. South Korean content consistently represents 8%-9% of viewing hours on Netflix, ahead of UK content at 7%-8%, and Japanese content at 4%-5% of viewing time. This is despite hits from the UK, such as "Black Doves: Season 1" and "The Gentlemen: Season 1," and the growing popularity of anime, which is a key driver of Japanese content viewing on Netflix. "Squid Game: Season 2" topped Netflix’s global charts in H2 2024, with 619.9m hours streamed. Its success continues to drive viewership for other South Korean content. Romance drama "Love Next Door: Season 1" and cooking reality show "Culinary Class Wars: Season 1" saw posted performance. Previous hits such as "Squid Game: Season 1," "Queen of Tears: Season 1," and "Crash Landing on You" also continue to be widely watched by a global audience.
Netflix’s success with South Korean shows and films reflects its mature content production and licensing strategy. During H2 2024, over half of the top 100 South Korean titles on Netflix were its Originals, and 31% were Netflix exclusives. The majority of these were supplied by local content powerhouse CJ ENM.
Netflix’s $2.5bn commitment to South Korean content from 2024 to 2028 will help maintain this content boom. The platform has built extensive content licensing and distribution deals with local broadcasters and media groups, including CJ ENM, JTBC, KBS, SBS, and MBC. Moreover, its original production capacities are also growing, with in-house facilities such as Studio 139 and Samsung Studio now operating locally. South Korea’s content players are also riding on the global Hallyu phenomenon. CJ ENM, the country’s largest media and entertainment conglomerate, has announced an $818m content budget for 2025. Its global expansion plans include leveraging Netflix’s global exposure, partnering with global studios such as WBD and Fifth Season, and a potential global rollout of its streaming platform, Tving.
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