Growing demand for K-Content

Netflix is doubling down on Korean unscripted shows! This past July, the streaming platform announced it will release a new Korean unscripted show every month until the first quarter of 2025. Thanks to this expansive strategy, the streaming service will have more than doubled its offerings from 2022, growing to 10 shows by the end of the year. What’s driving the streaming giant to expand this specific type of content?

In recent years, interest in Korean content, especially K-Dramas, has been growing, transcending South Korean borders and captivating audiences worldwide. Outside of APAC, LATAM has emerged as a significant market, with 17% of users showing a liking for this genre. Among the countries in the region, Ecuador (28%), Peru (27%), and Mexico (21%) appeared as the most interested in this type of content. The primary audience for K-Dramas predominantly consists of younger generations, a trend that remains consistent worldwide. In APAC, UCAN, and EMEA, this preference is evenly split between Gen Z and Millennials. However, in LATAM, Gen Z exhibits a slightly higher interest in this genre compared to Millennials.

Given that LATAM is the second region most inclined towards K-Dramas, it’s no surprise that when users were asked about the origin of their favorite content, Korean productions ranked 5th overall. This preference was even stronger among Gen Z, who ranked Korean content as their 3rd favorite. Within the main markets in the region, Gen Z in Colombia showed the highest preference, with 41% choosing Korean content as their favorite, closely followed by Gen Z in Mexico (39%) and Brazil (35%). But a key question arises: Do Korean shows drive subscriptions for Netflix in LATAM? Let’s dive into some insights.

‘Squid Game’ (2021) was one of Netflix’s most successful ventures into Korean audiovisual productions, quickly becoming a global phenomenon. For LATAM users, this Netflix original proved to be a powerful subscription driver, ranking among the top 10 shows cited as influencing their decision to subscribe. In Brazil, Netflix users specifically mentioned both “K-Dramas” as a genre and ‘Love in the Moonlight’ (2016), a Period K-Drama, as content that motivated them to join the streaming service. Even among non-users, K-Dramas appear to be a significant draw, ranking 5th among the top 10 most mentioned drivers for potential subscriptions.
BCS Bureau