Viewership for Asian TV content is growing on streaming services in the U.S., following popular hits like 'Squid Game' and 'Everything Everywhere All At Once.'
's hit drama "Squid Game" and other Korean series, as well as the recent success of films like "Minari" and "Everything Everywhere All At Once," has helped boost the demand for Asian language movies and TV shows globally.
Streaming services' unwieldy libraries have led to some media companies implementing cost-cutting efforts to make the apps profitable. But investment in Asian, especially Korean, content is still high.The share of global demand for Asian language content reached 25% in the first quarter of this year, up from about 15% in the same period in 2020, according to data provider Parrot Analytics.
"Some might think that supply outstripping demand globally could mean a slight pullback in investment could be on the table. But that gap is very much shrinking," Katz said, pointing to the success of Netflix hits such as "All of Us Are Dead" and "The Glory." "There is steady progress being made, which was reflected in 2022."
While global demand for Korean-language TV shows has increased since early 2020, it has still been outpaced by the supply of the content. Meanwhile, that demand has stagnated in comparison to other Asian language TV series, specifically Japanese and Chinese, according to Parrot.
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