Success ‘Squid Game’ is from the local first strategy of Netflix, says VP, says VP

While Hollywood is climbing to reverse engineer Global Hits, the secret of Netflix appears to make the phenomenon “Squid game” surprisingly easy.

In an entertainment landscape where global streaming platforms often chase universal attraction, Netflix finds success worldwide by doubling on cultural specificity. Minyoung Kim, Netflix’s VP of content for Asia (former India), reveals that the local first strategy of the streaming giant behind the unprecedented success of “Squid-Game” was and will continue to stimulate the content decisions of the platform in Asian markets.

“When I ordered ‘Squid Game’, we never tried to find a global show,” says Kim during a broad industrial conversation with Variety During the current showcase of the Streamer Asia Pacific in Tokyo. “We are always looking for stories that will have an impact on the local market that will really touch our local audience.”

This philosophy, which prioritizes cultural resonance within the home area of ​​a show above broader international ambitions, may seem at odds with the worldwide ambitions of Netflix. But Kim, who came to Netflix in 2016 as one of the first content executives in Asia, insists that this approach remains unchanged, despite the fact that “Squid Game” becomes one of the most viewed series of the platform ever.

“We don’t try to copy the success of ‘Squid Game’,” says Kim. “We are always looking for titles that work very well on the local market and entertain our audience on the local market.”

Kim, who supervises all films and series for the region, believes that authenticity is the most important ingredient with which local content can transcend boundaries. “If it is a local authentic story that is able to create the emotion that can really work well universally, I think that is when you really see a show traveling much more,” says Kim.

This counter -intuitive approach – intensely focused on local attraction instead of trying to develop international crossovers – has become Netflix’s North Star in Asian markets. Kim explains that this requires that teams are deeply embedded in every territory that the cultural nuances understand that resonate with the local audience.

“For Korean content it is a Korean audience; for Japanese content, the Japanese audience is; for Thai content, Thai public,” she says. “For every show we make, every decision we make, our North Star ensures that we please the local audience and become a cultural spirit of the times in that local market.”

Kim’s journey to become one of Netflix’s most influential content -executives in Asia includes stops at various large media companies. Prior to Netflix, she led the content partnerships of Twitter in the Asia Pacific region, an experience that she credits to broaden her perspective on what content is in the digital age.

“Before Twitter I worked at production companies. In my head, when you use the word ‘content’, it was a few million dollars per film, a few million dollars drama,” Kim recalls. “When I went to Twitter, people kept talking about ‘the content strategy’ and I was a bit confused, such as:” What do you mean, content? We have no content here. We have tweets. “”

This revelation that a tweet of 140 characters itself can be considered as content-Kim gives a more extensive vision that still informs her work today. “It really opened my eyes to different definitions of content, and that really helps me, even now, because we try to make sure we have different stories.”

The streaming landscape has evolved considerably since Netflix was launched in Asian markets for the first time. In many countries, what was once a disruptor was the sitting. When asked how Netflix remains in balance of Edgy while he becomes mainstream, Kim says: “I would like to consider ourselves a companion for industry. We always strive for diversity and variation.”

Kim notes that maintaining quality over a growing slate should be distributed when distributing creative decisions. “If I was the one who made all the decisions, I think we would not be where we are now. But my team in each of those markets takes those decisions and takes bets, takes risks. It is in our DNA, so we always strive to make large, daring fluctuations.”

Despite a post-Pandemic streaming-cooldown that has affected many players in the industry, Kim indicates that Netflix is ​​doubling his investments in Asia, especially in the production of local content. “APAC is one of the regions where we actually have very high growth,” she notes. “What I like about working in Netflix is ​​when we grow, we know it is important to really invest in advance.”

This growth extends beyond the commissioning of more content. Kim emphasizes Netflix’s focus on training programs for makers and production teams, and emphasizes that the general ecosystem of the industry must develop in addition to the ambitions of Netflix in the region.

When asked which statistics are most important for evaluating content success – completion percentages, virality or cultural resonance – Kim does not hesitate: “It is always cultural resonance. Human emotion is the most powerful, and when you can tell a story that resonates with the public, cultural emotion creates.”

As for the trends in the industry, Kim believes that Asian content has only started using his potential with the global audience. “The bets that we have made so far, and the bets that we are going to make and continue to make this year will ensure that Asian content will be of where Asian country will be on the radar of our global public,” says Kim.

“People think that with APAC content we have reached that peak. APAC capacity is so much on request, but we really are just starting,” she says. “The shows that my team and we at Netflix Asia use the world, it has much more potential than where we are now.”