The Korean drama 'Squid Game' is captivating the world.
With 142 million households around the world watching 'Squid Game', it ranked first in 94 countries where Netflix is serviced.
On the 19th of last month, Netflix CEO wore a green gym uniform and announced the third quarter results.
Netflix is known to have earned over 1 trillion won in revenue from 'Squid Game'.
Considering that the production cost of 'Squid Game' was 23.5 billion won, the so-called 'invitation hit' exploded.
What is the secret to the success of the 'Squid Game', which is invested by Netflix, an OTT (Over The Top) company that stands for online video service? Also, what was the background that allowed Netflix to monopolize the enormous added value? Why are producers lining up for contracts that cannot share revenue with Netflix? Following Netflix, Apple TV+ and Disney+ have recently entered Korea, and dinosaur platforms called global OTT are taking Korea as a forward base for targeting the global market.
For this reason, some say that it is necessary to save the native OTT and build a new so-called 'K content' ecosystem.
The issue of network usage fee is also an issue that cannot be overlooked.
Netflix's high-definition video generates huge traffic, but it does not pay network fees.
Carriers are constantly paying to avoid overloading their networks.
That's why Netflix's free-ride controversy arose.
Naver, which pays network usage fees, is of the view that it is reverse discrimination against domestic companies.
This week's SBS <News Story> examines the background and cause of the global craze of the drama 'Squid Game', and highlights the ecosystem and future of the domestic OTT market and 'K content', which has become a battleground between global OTT and native OTT. .