U.S. video streaming platform Netflix is rapidly expanding its presence in the Korean market with its subscribers tripling over a year.
Market researcher Nielsen Koreanclick said on Thursday that the number of Netflix subscribers reached 2.4 million in the combined number of online and mobile users as of the end of February, compared to 799,000 a year ago.
Subscriptions first broke the 1-million mark in October last year, and have since grown at an explosive rate. They rose 65.6 percent in January from the previous month, quickly pushing the total number past 2 million.
"Kingdom", the first Korean drama series produced by Netflix with a budget of W2 billion per episode, was released at the end of January, apparently fueling the sudden increase in Korean subscribers (US$1=W1,138). Netflix said the series showed that Korean content has worldwide appeal.
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