Netflix doubles down on international appeal
Is Netflix a universal language?
The entertainment giant is counting on it as the company seeks to extend its lead in the global streaming business. On Monday, Netflix showcased its latest slate of international original programs, which are a key part of its strategy to attract and retain subscribers around the world.
The list includes the much anticipated sequel to the violent Korean-language drama “Squid Game,” Netflix’s most watched show ever; “The Leopard,” an Italian story about a prince in the 1860s; and the third season of the Japanese series “Alice in Borderland.” Another ambitious project: the first-ever TV adaptation of the classic novel “One Hundred Years of Solitude.”
The Los Gatos, California-based streamer’s strategy is to create local-language shows and movies that appeal to audiences in specific individual markets and regions. If those programs blow up in popularity, Netflix can use its platform to book them in other countries including the U.S., which is what happened with the first “Squid Game” season and the Spanish-language thriller “Money Heist.”
International markets are an important source of the company’s subscriber and revenue growth. Netflix estimates that two-thirds of its audience of 650 million people live outside the U.S.
Audiences on Netflix have embraced international programming as viewers have become increasingly accustomed to reading subtitles at home. More than 70% of all viewing on Netflix happens with subtitles or dubbing, Netflix Chief Content Officer Bela Bajaria said. Last year, about 13% of hours viewed in the U.S. were for non-English titles.
The company has a significant presence abroad, with 26 offices outside the U.S., working with more than 1,000 producers from more than 50 countries. Non-English titles that draw the biggest U.S. audiences are Korean, Japanese and Spanish stories, Bajaria said.
The prime example of the strategy working is “Squid Game,” which captured 265.2 million views in its first 91 days on Netflix, according to company data. The series’ second season comes out on Dec. 26.
Netflix executives say their commitment to telling authentic local stories has helped them gain the trust of creators. Next month, Netflix will release Part 1 of “One Hundred Years of Solitude,” based on the sprawling magical realism novel by Gabriel García Márquez about the rise and fall of a fictional town in Colombia.
Previously no one had ever tried to adapt the book into a series or film, nor had the García Márquez family approved any adaptations.
“But we were able to, thanks to our commitment with the family to film in Colombia, in a series format to honor the original structure of the book, and in Spanish for authenticity,” a Netflix representative said.
