The momentum of the online video service (OTT) Netflix series “The Glory” Part 2 is alarming. According to Netflix’s official website “Netflix Top 10″ on the 15th, Part 2 of “The Glory” recorded 124.46 million viewing hours in the first week of its release, ranking first in the non-English-speaking TV (TV) category. It is overwhelmingly higher than the 7,581 hours of “All About You” season 4, which ranked first in the English-speaking TV category, making it the overall No. 1 record in all languages.Netflix Top 10, which discloses the weekly ranking of viewing hours, announced the tally from the 6th to the 12th of the second week of this month, and “The Glory” is the viewing time recorded in just three days after it was released on the 10th. “Everything About You” was released a day earlier on the 9th.

According to the global OTT ranking aggregation site “Flix Patrol,” Part 2 of “The Glory” ranked first in the Netflix TV category worldwide on the 13th, three days after its release. It ranked third the day after its release and second the next day, followed by No. 1 in three days. According to the ranking by country, it ranked first in 26 countries the day after its release, 38 countries on the 13th three days later, and 42 countries on the 14th. “Squid Game,” which hit the world, topped the TV category on the 24th, a week after its release on September 17, 2021.In order to gain global popularity like <Squid Game>, the response must be great not only in non-English but also in English. “The Glory” seems to be spreading to the English-speaking world, which began in Asia, South America, and the Middle East shortly after its release. It ranked first in Canada on the 14th, and third and fourth in the United Kingdom and the United States, respectively. It is a revenge play about school violence by Korean teenagers, and there are many actual cases of being in trouble as famous celebrities or celebrities. Audition program winners and idol stars who were in the midst of popularity and attention were frequently expelled and disappeared due to social media revelations and testimonies. In fact, Korea is becoming a serious problem with bullying, extorting money, and even sexual slavery through group composition in school life, and this drama composition is close to a real revelation.

jennifer kim
Asia Journal

]]> http://heraldk.com/en/2023/04/05/will-the-glory-be-the-second-squid-game/feed/ 0 http://heraldk.com/en/2022/08/26/recent-netflix-layoffs-and-subscription-updates-stir-unhappy-viewers/ http://heraldk.com/en/2022/08/26/recent-netflix-layoffs-and-subscription-updates-stir-unhappy-viewers/#comments Fri, 26 Aug 2022 05:47:16 +0000 http://heraldk.com/en/?p=73421

(Source from Reuters/Alamy)Within the last few months of 2022, popular streaming service, Netflix, has been undergoing major changes with its staff and subscription services. Back in May, the company let go of about 150 employees, most of them being based in the U.S., and then an additional round of layoffs occurred in late June. This shocked the public as Netflix has housed many well-received shows and movies in the past couple of years, even expanding internationally.

The layoffs, according to Netflix, were a result of a slowing revenue growth while costs continue to trend upwards. A majority of the cuts were made within the U.S., which came as a surprise to many since the streaming platform housed an abundance of hit original series and films. Even recently, the newest season of popular Netflix series “Stranger Things” was released, amassing 1.15 billion hours viewed in total.

Despite shows like this receiving an overwhelmingly positive response, it seems as though Netflix is pulling back on investing on resources that are not bringing in the revenue stream they want to see. In fact, the major streaming platform is now set to increase the costs of their subscription service. The basic plan will rise from $8.99 USD to $9.99 and the standard plan is now set to be $15.49 instead of $13.99; the premium plan is nearly $20. This isn’t the first time Netflix has increased their monthly subscription prices, but with the U.S. being hypersensitive to inflation and talks about a recession, people are not happy with the news.

Netflix, however, is aware that these changes may downsize their customer base. In order to make their platform more accessible, they are in talks to potentially introduce ads into their subscription service as a way to invite new users who may not want to pay extra for an experience without advertisements. Even one of their major competitors, Disney+, is also considering an ad-supported tier, confirming that this may be the route many other streamers decide to take in the near future.

With the news of downsizing staff and subscription changes, there have been many who expressed their growing dissatisfaction with Netflix as a whole. In just the first quarter of 2022, the streaming platform lost approximately 200,000 subscribers in the United States. This is the first significant drop in customers in about a decade.

This loss could be attributed to other major streamers such as HBO Max, Apple TV, Hulu, and Disney+ taking over the market as those platforms continue to release original content just like Netflix has. Another factor could be that more and more users are relying on shared accounts rather than purchasing their own subscription due to price constraints and overall convenience.

Existing customers are also beginning to question the sporadic rotation of content, where certain movies and shows that aren’t owned by Netflix are only available for a few months before being taken down their roster. This leaves them no choice but to subscribe to other streaming platforms that may have content that they are actually searching for and having them rely less and less on Netflix for consistent entertainment.

Overall, many changes are in the works for Netflix, and while things may be slowing down in the U.S., there is still hope for foreign markets as the streamer continues to expand globally.

JULIE KIM
ASIA JOURNAL

As telecommuting and so-called ‘Stay-at-Home’ increased worldwide due to COVID-19, the number of OTT users also increased. According to The Export-Import Bank of Korea, the scale of worldwide OTT markets jumped 15 percent as of the last year, especially the domestic OTT market which has grown at an annual average rate of 28% since 2012. Also the Korea Communications Commission estimated that OTT market size would be about 1 trillion won. This can be seen as the opening of the so-called “OTT heyday” by many companies entering the OTT market.

In the midst of this, OTT, which has firmly maintained its No. 1 position in the number of users even before the outbreak of COVID-19, is Netflix. Netflix is a video streaming platform that first launched in the United States in 1998, and it currently dominates the global OTT market. According to Netflix’s official website, Netflix is a streaming service that can be viewed on thousands of devices which can connect to the Internet. With a monthly plan, you can watch the contents as much as you want at any time without any advertisements, and Netflix offers new series and movies are provided every week. Netflix has a total of three licenses, divided into Basic, Standard, and Premium, and each rate system shows a difference in the number of simultaneous users and image quality along with the price.

Netflix is a leader in the OTT industry, which has been in the spotlight around the world for various original contents that have been directly organized and accumulated for a long time. Unlike traditional media outlets, Netflix Original releases all episodes at once on a season-by-season basis, which contributes greatly to Netflix’s popularity and makes many people crave curiosity and waiting. It can be seen that Netflix’s Korean work, Squid Game, was so popular that few people have not seen it, and Netflix’s domestic demand and interest have increased significantly. Netflix contents have a wide variety of genres and videos to watch, and as they are riding the flow of global media, future contents are highly expected. However, in the increasingly popular OTT industry market, emerging OTT powerhouses that threaten Netflix’s position are also appearing one after another, and they are attracting consumers to use content more cheaply for the price of use. However, Netflix has its own principles and has already created subscribers with several popular content series.

Dinosaur IT companies such as Apple and Amazon are also jumping into the OTT market. It generates fixed sales every month with OTT and serves as a stepping stone to expand to various service platforms such as shopping and game information search. Among them, Apple entered the OTT market with ‘Apple TV Plus’. The subscription fee is $4.99 per month, which is the cheapest among major OTTs. Apple TV Plus plans to produce an original series and provide contents from leading cable channels such as HBO and Showtime.

Korean companies have also launched various OTT services. Watcha is an OTT that has various movies and dramas, and has feed and comment functions and tag-based recommendation functions. Watcha started off as an OTT that specializes in movies and expanded its contents to dramas, entertainment shows, and educational programs from 2015. WAVVE is an Internet-based OTT service which is a collaboration of SK Telecom and four Korean terrestrial broadcasting systems (KBS, SBS, MBC, and EBS). TVING is a CJ-affiliated OTT established in 2020, providing various categories of dedicated hall services, and has a video sharing function through SNS linkage. Recently, the contents of “TVING Original,” which are its self-produced contents, went viral. TVING has the advantage of being significantly lower in price compared to Netflix while providing services similar to Netflix.

Netflix, which actually monopolizes the OTT market, raised subscription fees by up to 17% last year. The fact that other OTT services are steadily evolving to compensate for shortcomings, and that more OTT services are expected to be released is enough to change the landscape of the OTT market. To prepare for these changes, Netflix should listen to consumers’ needs. Netflix should not raise subscription fees any more to reduce the price burden, which is the biggest complaint of consumers. Also, as the price has already been raised, it should provide more diverse and high-quality contents than before. In addition to making more efforts to produce its original contents, which are its flagship products, it will also have to provide differentiated contents, thereby responding to the rapidly changing trend of the OTT market.

Netflix responded to the ongoing increase in subscription fees by saying, “Netflix membership fees may change as we continue to add more TV shows and movies and introduce new product features. It may also change to accommodate changes in the local market, such as changes in local taxes and inflation. ” Currently, as inflation continues in the global market, it appears to be an option made to reduce the ongoing tax burden. On the other hand, there are opinions that the price of Netflix, which offers movies and dramas in various countries and fields, is reasonable due to the increase in cultural living expenses such as movies. The greatest advantage for consumers is that they can freely watch at any time and place they want. However, consumers continue to express dissatisfaction with Netflix’s increased subscription fees and restrictions on account sharing.

Is this Netflix’s best option for responding to a changing market? As the saying goes, ‘Those who want to wear the crown, bear the weight’, Netflix needs that much effort to keep its No. 1 position in OTT market share. As it occupies the first place in OTT market share, Netflix will have to find other practical ways to satisfy consumers’ tastes in order to maintain the number of subscribers at this point and continue to lead in the OTT market, which is becoming more diverse as time goes by.

K-UNIV

Asia Journal

Netflix, which officially launched here in January 2016, offers an eclectic pool of films and TV shows from around the world, including those from Korea, to some 117 million subscribers in 190 countries worldwide.

The films and TV programs Netflix carries are either licensed from third-party production houses, or directly produced in partnership with creative talent from around the world under the “Netflix original” label.

The firm’s original creations, exclusively offered via Netflix, include the internationally popular political thriller “House of Cards” and the supernatural series “Stranger Things.” In Korea, the film “Okja,” directed by Bong Joon-ho, was created and distributed in this manner, disrupting the country’s media content business ecosystem.

One of Netflix’s biggest goals is to give various audiences worldwide access to a vast pool of web television shows, films and content from around the world they may otherwise never get a chance to check out, and potentially become fans of.

In this respect, Netflix wants to help Korea-made content reach viewers overseas, including not existing fans of Korean dramas, but others who may never have had the chance to see and check out Korean shows and movies, according to Kim Min-young, Director of Originals at Netflix.

“Korean TV drama series are already an important content genre in Asia, as it already has a strong fan base in the region. However, we want to help Korean dramas get newly discovered by viewers overseas,” said Kim Min-young, Director of International Originals at Netflix.

“Until now, most Korean dramas known overseas were in the romantic comedy genre. However, we want to help Korean shows in other genres such as mystery thrillers and period action flicks to be discovered by users overseas,” Kim said.

One example includes “Stranger,” the tVN crime thriller series starring Bae Doo-na and Jo Seung-woo, which Netflix bought the streaming rights for under a content sharing partnership with CJ E&M.

Offered as a “Netflix original” series in countries outside of Korea, “Stranger” has been garnering an international fan base of viewers who enjoy watching crime thriller genre content in general, and do not necessarily have a special liking for K-dramas per se, Kim said.

Similarly, “Okja,” the first “Netflix original” film from Korea, has achieved international fame through the global streaming platform, even being featured in the prestigious Cannes Film Festival last year, she noted.

“What’s really exciting for us is that we are tapped into creators from all over the world. We have the ability to circulate content that wouldn’t have traveled worldwide in the conventional system,” said Rob Roy, Vice President of Content Acquisition at Netflix.

Looking ahead, Netflix also wants to help Korea push the boundaries of its media content offerings. This year, it will be featuring a new Netflix Original Stand-up Comedy Special with YG Entertainment, featuring local comedian Yoo Byung-jae.

Stand-up comedy is a relatively unknown genre in Korea, and Netflix is hoping that Korea’s contribution to the largely western mix of stand-up comedy programs will help bring new experiences to worldwide fans of this genre.

Other plans down the road this year include a new Korean Netflix original TV show series called “Kingdom” which will depict a zombie apocalypse in the ancient Joseon dynasty. Written by drama writer Kim Eun-hee, “Kingdom” will feature Bae Doo-na as the lead actress.

The US company also highlighted the value and benefits of its content recommendation algorithm which helps viewers discover various films, TV shows and documentaries that align with their personal preferences and viewing habits.

Among other techniques, Netflix groups all of its users with similar viewing habits and preferences into so-called “taste clusters” which helps Netflix find and recommend what type of content a particular viewer might like.

“This is really the key to what helps content travel around the world. For instance, if I watch ‘Mad Men,’ I might be recommended to watch ‘Okja’ because we’re in the same ‘taste cluster,’” said Caitlin Smallwood, Vice President of Science and Analytics at Netflix.

“You probably tell your families and friends about what they like to watch. It’s the same concept but it’s done via mathematical algorithms at a massive scale,” she said. “The key is leveraging our massive membership and piecing it with lots of content.”

By Sohn Ji-young

The historical period drama is set in Korea’s medieval Joseon period where a crown prince is sent on a suicide mission to investigate a mysterious outbreak, according to Netflix.

(Netflix)

Kim Eun-hee, whose work “Signal” was one of the most critically acclaimed TV shows in 2016, has worked on the eight-episode “Kingdom,” which is a zombie action thriller, since 2011.

“I wanted to write a story that reflects the fears and anxiety of modern times but explored through the lens of a romantic fascination of the historical Joseon period,” said Kim.

Director Kim Seong-hun’s latest success, “Tunnel,” was a top five movie in the Korean box office last year. “Kingdom” will premiere exclusively on Netflix in 2018.

“Kingdom captured our imaginations from the moment we read the script with its visual feast of historical drama blended with supernatural fantasy,” said Erik Barmack, vice president of international originals at Netflix.

Netflix has often partnered with big regional TV and movie names to produce original works. In Korea, it has invested $50 million in Bong Joon-ho’s new movie “Okja” and is also currently bankrolling the production of its first Korean series “Love Alarm” based on the webtoon of Chon Kye-young.

A scene from director Bong Joon-ho’s upcoming film “Okja” (Netflix)

Co-written by Bong and Jon Ronson of “Frank,” Okja tells the story of a young girl who risks everything to prevent a multinational company from kidnapping her best friend — a massive animal named Okja. The movie streaming service invested $50 million in the film.

A scene from director Bong Joon-ho’s upcoming film “Okja” (Netflix)

The teaser unveiled several scenes in which An Seo-hyun, the Korean actress who plays Mija, is desperately trying to locate Okja in a forest and Tilda Swinton, who plays a senior researcher, is getting makeup applied for a news conference. There also was a scene where Okja sadly looks at the girl.

The sci-fi film was produced by Hollywood studios — Plan B, Lewis Pictures and Kate Street Picture Company — and also stars Jake Gyllenhaal of “Nightcrawler” and “Everest” and Paul Dano of “Love & Mercy” and “12 Years a Slave.” The cast includes Korean actors such as Byun Hee-bong, Choi Woo-shik and Yoon Je-moon.

A scene from director Bong Joon-ho’s upcoming film “Okja” (Netflix)

Okja is set to open in Korean theaters and simultaneously on Netflix in June.

Bae will return as Sun Bak, the daughter of a powerful businessman in Seoul and a rising star in the underground kickboxing scene, in the series created by Lana and Lilly Wachowski — the renowned makers of “The Matrix” series — and J. Michael Straczynski.

The images feature the show’s multinational ensemble in various scenes. Bae’s character is seen training in a cell, posing outside a railway station in a prisoner’s suit and in a cluttered studio with co-stars Jamie Clayton and Freema Agyeman.

In its first season, the show followed eight strangers in different parts of the world as they became “sensates,” or human beings who are mentally and emotionally connected.

The new season will hit Netflix on May 5. Bae previously worked with the Wachowskis in the 2012 film “Cloud Atlas.”

The following are images featuring Bae released by Netflix: