Wednesday, August 10

The Strong Performance Of ‘Squid Game?’ On Netflix Provides Hope For The Formation Of A Korean Hit.

Another family-friendly South Korean series from Netflix was a hit among fans, which has given hope to investors that there are more opportunities for the series.

Netflix’s “Extraordinary Attorney Woo,” a series that follows the titular character Woo Young-woo as “a newbie at a top law firm and a woman on the autism spectrum,” has topped watchlists on the streaming platform for the last two weeks. It was the most-watched non-English television show on Netflix globally from July 4 to 17, according to the company’s metrics. The show ranked number one in that category in eight countries, and appeared in the top 10 for 22 countries, Netflix said. That’s good news for Astory Co., South Korea’s production company behind hits such as “Kingdom,” another hot show for Netflix. Shares of Astory Co., which is also known for its other shows like “Super Family,” have surged 74% in Seoul since the debut of “Extraordinary Attorney Woo” in late June.

Netflix continues to grow internationally, which bodes well for its original content. Within a blog post published Wednesday, Netflix pointed to the show’s foreign success, saying it had reached audiences in Indonesia, Malaysia, Singapore, Thailand, and Vietnam after being featured in 31 languages.

The company has seen growth in Asia Pacific, especially South Korea. Just Tuesday, the company reported earnings showing that it had added 1.1 million Asian subscribers in the second quarter as it lost users in markets such as the United States and Canada. South Korean content is especially important to the streaming giant after the massive success of “Squid Game” last year, which had become the company’s top show globally.

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