Netflix’s Strategy for Success: A Deep Dive into Cultural Specificity
In the competitive world of entertainment, where global hits are often reverse-engineered to appeal to a wide audience, Netflix has found a different approach that has proven to be surprisingly successful. The streaming giant’s VP of content for Asia (ex-India), Minyoung Kim, recently shared insights into Netflix’s strategy that led to the massive success of “Squid Game” and continues to drive the platform’s content decisions in Asian markets.
Kim revealed that when Netflix commissioned “Squid Game,” the goal was never to create a global show. Instead, the focus was on finding stories that would resonate deeply with the local audience. This local-first strategy may seem counterintuitive in a world where streaming platforms aim for universal appeal, but Kim believes that cultural authenticity is the key to creating content that transcends borders.
“We’re not trying to copy the success of ‘Squid Game,'” Kim emphasized. “We always look for titles that are going to work really well in the local market and entertain our audiences in the local market.” This approach, which prioritizes pleasing the local audience over international ambitions, has become Netflix’s guiding principle in Asian markets.
Kim stressed the importance of having teams deeply embedded in each territory to understand the cultural nuances that resonate with local audiences. For Korean, Japanese, or Thai content, the focus is on creating stories that authentically reflect the local culture and emotions. This emphasis on cultural resonance has enabled Netflix to become a cultural zeitgeist in various Asian markets.
Netflix’s commitment to diversity and variety in its content offerings has been a driving force behind its success in Asia. Kim highlighted the importance of distributing creative decisions across her team to maintain quality and make bold creative choices. Despite the challenges posed by the post-pandemic streaming landscape, Netflix remains committed to investing in Asia and supporting local content production.
When it comes to evaluating content success, Kim believes that cultural resonance is the most important metric. “Human emotion is the most powerful thing,” she explained. “When you are able to tell a story that resonates with the audience culturally and personally, it creates that human emotion that drives engagement.”
Looking ahead, Kim is optimistic about the future of Asian content on a global scale. She believes that the potential for Asian content to reach a wider audience has only just begun to be tapped. With Netflix’s continued investment in the region and its focus on supporting creators and production crews, Asian content is poised to make a significant impact on the global stage.
As Netflix continues to make bold bets and expand its presence in Asia, the shows coming out of the region have the potential to captivate audiences around the world. With a focus on cultural authenticity and emotional storytelling, Netflix is paving the way for Asian content to shine on a global platform.
