🎧 Listen: In today's episode of The Journal podcast, timothywmartin explains how Netflix turned 'Squid Game' into a streaming megahit and why the company has invested so heavily in Korean content
"Squid Game" is on track to become Netflix's biggest show ever. WSJ's Timothy Martin explains the show's origins and why Netflix has invested so heavily in Korean content.This transcript was prepared by a transcription service. This version may not be in its final form and may be updated.
Timothy Martin: Starting in the '90s, really, South Korea was already exporting any number of electronic goods or heavy machinery, manufacturing items. And they came up with this idea to try and attempt the same thing with pop culture. It was perhaps an asymmetric thing it could offer the world. So there was government investment and they were able to create some early successes.
Speaker 4: Parasite has six Academy Award nominations and is the first film not in the English language to win Best Picture. Timothy Martin: They tend to be very syrupy, boy meets girl, romance. There's usually a love triangle where there's a choice between someone who doesn't have money but has virtue and someone who does have money but does things the evil way and then someone trapped in the middle. And there's usually some soap opera calamity at some point, an unexpected illness, a car accident that throws the plot into haywire.
Timothy Martin: He actually had a friend a few years ago suggest he turned the script into a webtoon, which is an online comic. And that was when he thought, "Well, maybe I should pitch this to Netflix." Ryan Knutson: And what Tim was seeing in his text messages, Netflix was seeing in its audience data. According to the company, 95% of Squid Game's audience is outside South Korea.
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