The dominance of Netflix in the global streaming market has brought both benefits and challenges for foreign content creators. Despite the surge in international interest in South Korean film and television, stock prices of production companies in the country have experienced a downturn.

Studio Dragon Corp., a major South Korean producer, saw its shares drop by 25% this year, even though it produced one of Netflix’s most popular titles, “The Glory.” In contrast, Korea’s stock benchmark rose by 10% during the same period. Some insiders in South Korea’s entertainment industry attribute this decline to the heavy reliance on a single distribution channel—Netflix.

Concerns have been raised about the lack of alternative platforms for global audiences to watch Korean series. Jeongin Hong, a representative from SLL, a studio that signed a licensing deal with Netflix and produced successful shows like “All of Us Are Dead,” expresses worry about Netflix being the sole avenue for Korean content to reach international viewers.

The situation highlights the need for diversification and increased bargaining power for content creators in South Korea. While Netflix has undoubtedly provided opportunities for international exposure, dependence on a single platform can lead to vulnerabilities in the market. Producers and governments are grappling with finding ways to balance the advantages and drawbacks of working with the world’s leading streaming provider.

As the streaming landscape continues to evolve, it is crucial for content creators to explore various distribution channels and partnerships to ensure sustainability and growth. While Netflix remains a significant player in the industry, diversifying distribution platforms will help mitigate risks and foster a more robust ecosystem for foreign content creators.