(ANN/KOREA HERALD) — Despite the global triumphs of Netflix’s earlier Korean dramas like “Squid Game,” “The Glory,” and “Hellbound,” recent high-budget releases from the streaming giant are finding it challenging to replicate the same success.
On Netflix’s “Global Top 10” list, which categorises titles based on views, recent K-dramas such as “Song of the Bandits,” “Doona!,” “Sweet Home 2,” and “Gyeongseong Creature” have struggled to secure top spots despite substantial production costs.
“Song of the Bandits,” with a reported investment of KRW36 billion (USD27 million), failed to sustain a long presence on the global top 10 list, ranking for only three weeks in the TV (Non-English) category.
Despite media speculation likening it to the success of “Squid Game,” the series didn’t match the sustained success of its predecessor.
Other high-budget releases, including “Doona!” and “Sweet Home 2,” faced similar challenges. “Doona!,” a romance drama starring K-pop sensation Suzy, and “Sweet Home 2” both struggled to maintain positions on the global top 10 list despite budgets rumored to be between KRW20 billion and KRW30 billion.
Netflix’s fantasy original drama series “Gyeongseong Creature,” reportedly costing a substantial KRW70 billion, managed to secure the third spot on the global top 10 list in the TV (Non-English) category for three weeks.
However, concerns have been raised about the show’s excessive production cost impacting its potential success.
Industry insiders and experts point to the increasing reliance on special effects over storytelling skills as a contributing factor to the struggles of recent high-budget Korean dramas on Netflix.
Pop culture critic Kim Hern-sik notes that an emphasis on large budgets and special effects might be diminishing the global appeal of Korean content.
Experts also attribute declining viewership hours on streaming platforms post-pandemic as a contributing factor.
Kim suggests that if a series like “Squid Game” had been released around the end of 2024, it might not have received the same explosive response due to a decrease in overall viewing hours.
Despite these challenges, experts caution against setting unrealistically high standards for the success of Korean content on Netflix. “South Korea sets the standard for success on Netflix too high,” says Kim Hern-sik, highlighting that even making it to the top 10 in the non-English-speaking category should be considered a noteworthy achievement.
Producers echo this sentiment, emphasising that success on Netflix doesn’t always align with traditional measures. Kang Eun-kyung, the screenwriter for “Gyeongseong Creature,” notes that their aim was for the series to gain global recognition, even if it didn’t fit traditional notions of commercial success.
