NETFLIX
Netflix co-CEO, Ted Sarandos, expressed an optimistic outlook for the future of cinema and asserted his company's enduring commitment to promoting Korean content during meetings with film studies students and leading production studio representatives on Wednesday and Thursday.
Sarandos, accompanied by acclaimed Korean director Park Chan-wook, conducted a lively open discussion with approximately 100 students at a Yongsan District cinema in central Seoul. Topics ranged from the future of cinema and the charm of Korean films to the hallmarks of a good movie.
“Cinema's future is robust, and this is a ripe time for storytelling," Sarandos stated on Wednesday. He acknowledged the transformative role of technology in enhancing cinema, emphasizing that while traditional theater experiences remain unrivaled, the advent of the internet, smartphones, and social media has opened up unprecedented possibilities for professional storytelling.
Park echoed Sarandos' optimism, envisioning the future of cinema as marked by increasing diversity in content creation and filmmaking techniques. He commented on the democratization of filmmaking, observing how technological advancements have expanded opportunities for aspiring filmmakers who previously lacked access to expensive equipment.
Korean films' appeal, according to Park, lies in their cultural authenticity, tailored to the discerning tastes of the local audience. He pointed out Koreans' historical hardships have led to a population with a profound emotional range, expecting varied emotional experiences from films and dramas. This high emotional quotient has resulted in intense, stirring Korean content that resonates globally.
Sarandos seconded Park's observations, attributing the success of Korean content to the society's open expression and adventurous spirit. He linked freedom of creation to commercial and critical success, hinting at the importance of creative liberty in producing globally recognized content.
According to Sarandos, successful films or content either foster connections or provide an escape. He emphasized the need for unique and authentic storytelling, while Park added that a good film should challenge perceptions and encourage a broader understanding of the world, promoting diversity.
During Thursday's session with production studio representatives, Sarandos confirmed Netflix's commitment to investing $2.5 billion in Korean content over the next four years, a promise made in April. He emphasized that the streaming giant would also invest in nurturing future content creators.
Citing the high consumption of Korean content on Netflix, with over 60% of users viewing Korean films or dramas last year, Sarandos underscored the crucial role the Korean content industry plays in Netflix's ongoing success.
Sarandos engaged in a productive dialogue with production studio representatives on potential areas for improvement and better collaboration between Netflix and Korean studios. He reiterated Netflix's unchanging dedication to Korean content, emphasizing that the company's endeavors were only just beginning.
“We have only scratched the surface in our drive to spread Korean content globally,” Sarandos stated. "When we do it right, when we create local content that is primarily successful in Korea, that will be the recipe for success around the world."
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