Korea

Netflix’s Earnings in Korea Double in a Year

Netflix earned W400 billion from its streaming service in Korea last year, more than double the amount it made in 2019 (US$1=W1,125).

Sales jumped 123.5 percent in lockdown to W415.5 billion, while operating profit surged 295.2 percent over the same period to W8.82 billion.

Most of the sales were generated by subscription fees, which surged 127 percent to W398.8 billion.

Netflix offers a flat monthly subscription fee of between W9,500 to W14,500, and the number of subscribers surged as people spent more time at home due to the coronavirus epidemic. As of the end of last year, 3.8 million households here subscribed to Netflix.

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Lohit Soundarajan

Founder , Editor Tech Guy #Voxguy

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