Netflix announces $2.5 billion investment in Korean content for the platform
CBSN
Streaming giant Netflix confirmed it will be investing $2.5 billion into creating Korean content for the platform, including television series, movies and unscripted shows, over the next four years.
Netflix's co-CEO Ted Sarandos made the announcement Monday at a meeting with South Korea's President Yoon Suk Yeol in Washington. The investment is twice the total amount the company has invested in the Korean market since 2016, when Netflix started its service in the country.
"We are deepening our partnership with the Korean creative industry, which has produced global hits such as 'Squid Game', 'The Glory', and 'Physical:100,'" Sarandos said in a statement. "With the partnership, we will continue to grow with the local industry while sharing the joy of entertainment with Korean storytellers to our fans around the world."
After four days of voting, with more than 400 million people eligible across 27 countries, European voters have pulled the bloc's 720-seat parliament farther to the right than it has ever been. The European Parliament, for the next five years, will now have a record number of far-right legislators. Far-right parties made gains in Europe's top three economies — Germany, France and Italy — with gains by politicians who campaigned against immigration, against support for Ukraine and against climate policy.
Apple's annual Worldwide Developers Conference is typically a springboard for the company to announce new tech features for its software programs, and not as flashy as its yearly September event to trumpet its latest iPhone rollout. But this year, the WWDC could be a make-or-break moment for the tech giant.