Troy Stangarone on How Netflix Is Reshaping South Korean Entertainment
April 29, 2019
Netflix has come to South Korea and it is engaged in a market entry strategy that has been extremely successful to-date, writes Troy Stangarone in his recent column for The Diplomat Magazine. Netflix looks to partner with local networks to license content, but major Korean players like CJ E&M and SK Telecom have turned down partnership to prevent Netflix from becoming a competitor in the domestic Korean market.
Stagarone sees similarities between this counterstrategy and what Naver did to keep Google out of the Korean market. Indeed, Naver succeeded in protecting its market share in Korea – but it never grew into a presence abroad. Similarly, Stangarone warns that Korean content providers could miss the opportunity to access a wider foreign audience by leveraging Netflix.
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