The modern | Netflix Global Content Strategy May Not Pay Off as Hoped

Netflix Global Content Strategy May Not Pay Off as Hoped

Netflix's International Content Strategy: A Closer Look In the midst of Hollywood's ongoing labor unrest, Netflix stands out as a streaming giant that is well-positioned to weather the storm. With a robust international pipeline, the company has been able to continue delivering content from countries outside the jurisdiction of U.S. guilds. However, a closer examination of Netflix's global content strategy reveals that success is not guaranteed. While a decline in the availability of new American titles could potentially drive viewers to explore international programming, the core of Netflix's global business remains English-language series produced in the U.S. Despite the global success of the South Korean thriller "Squid Game," which captivated audiences around the world, Netflix has yet to produce another international hit on the same scale. In contrast, English-language series such as "Wednesday" and "Stranger Things" have resonated with audiences globally. These shows ranked among the most-watched on Netflix in over 90 countries, accumulating over 1.5 billion hours of viewing time within their first 91 days of release. However, even these popular series fall short of the staggering 2.2 billion hours viewed for "Squid Game." Non-English TV shows have also struggled to match the success of "Squid Game," with the second-most-successful non-English season, the Spanish crime drama "Money Heist" Part 5, garnering approximately 900 million hours viewed in its first 91 days. This lack of globally successful non-English content is not inherently problematic, given the success of Netflix's U.S.-based series. However, co-CEO Greg Peters has expressed a desire to replicate the success of "Squid Game" on a regular basis. Whether this ambition is feasible remains uncertain, as producing consistent blockbuster hits is a challenge faced by the entire entertainment industry, including Netflix. Despite the potential difficulties, Netflix has been increasing its investment in international content. The company has allocated significant funding to local productions in various regions, including a doubling of the budget for German-language content and a $2.5 billion investment in Korean programming over the next four years. This increased spending is evident in Netflix's catalog, with the share of U.S.-produced originals decreasing from 60% to 40% over the past six years. Netflix emphasizes that its goal for local content is to create shows that resonate primarily with the market for which they are made. The company aims to produce authentic local shows that can find a global audience on its platform. However, the impact of local content has been limited in many countries. According to a study by PlumResearch and Omdia, apart from South Korea and the U.S., no surveyed country had locally produced originals accounting for more than 50% of the total offerings. In conclusion, Netflix's international content strategy presents both opportunities and challenges. While the success of English-language series demonstrates the global appeal of certain shows, creating consistently successful non-English content remains a hurdle. As the company continues to invest in local productions worldwide, only time will tell if Netflix can replicate the success of "Squid Game" and make it a regular occurrence. Nonetheless, Netflix remains a leading platform for diverse and engaging content for audiences around the world. Meta Tag Title: Netflix's International Content Strategy: Opportunities and Challenges in Replicating "Squid Game" Success