The unprecedented phenomenon that Netflix embraces with The Squid Game
‘Stratospheric’ audience succeeds in new Netflix production squid game Ranked #1 for 90 days on the streaming content platform, it’s part of the company’s strategy of “global distribution and local production,” according to Pablo Foncilas. The numbers indicate this.
A decade after the platform launched its services in 43 countries, between 56% and 65% of its revenue comes from markets outside the US. The business school professor explains that “what is different about Netflix is local production but backed by a very low cost of capital”, since the company’s raising of capital is “very cheap”.
Promote local production
Netflix has built or announced plans to build production centers in several countries around the world, such as South Korea, Turkey, Colombia, Canada and Italy. The publisher explains that in every country, it “assigns content executives to outsource work to the local creative community.”
In addition, its productions are in several languages, which contributed to its programming in languages other than English, as it increased by 71% since 2019, unlike what happened with other competitors. “It did something unbelievable,” Foncilas adds, that the vast majority of US Netflix subscribers watched at least one title in the past year in a language other than Anglo-Saxon.
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