Netflix Readies $500 Million Budget to Crack Asia

Bloomberg: Netflix plans to spend $500 million on original movies and TV shows in South Korea this year, boosting investment in content that’s been key to the streaming giant’s success in one of its fastest-growing markets. Since entering the country in 2016, the US company has invested $700 million in local content, creating about 80 original series and films in South Korea. Disclosing the market’s user numbers for the first time, Netflix said it had 3.8 million paid subscribers in South Korea at the end of 2020.