Netflix Strikes Content Pact With Korea’s JTBC

In the second such pact announced within a week, global streaming giant, Netflix has unveiled a multi-year program supply deal with Korean producer JTBC Content Hub.

JTBC and Netflix will co-develop and showcase JTBC’s prime-time TV drama globally as well as optimizing what will be presented to the world among the slate of JTBC’s upcoming series.

The deal takes off in 2020, though the two companies have worked together for nearly two years already, since Netflix licensed 600 hours of JTBC’s scripted and unscripted TV shows in April 2017. Since then, Netflix says that JTBC’s shows have been proven successful among global fans. These shows include “Sky Castle,” “Something in the Rain,” “Life,” and “My Country: The New Age.” No data is available.

“The trust between JTBC and Netflix will become more solidified through the agreement. The agreement will also drive JTBC’s entrance into overseas markets as a global production house with high-quality content,” said JTBC in a statement. The company was launched in 2011 and has become the country’s most successful privately owned broadcaster. Its channels roster includes the JTBC channel and four specialty streams.

Last week, Netflix announced the signing of a similar supply deal with CJ ENM’s Studio Dragon firm. That deal was also an extension of an existing working relationship, and was presented as a multi-year pact. One significant difference between the two deals, is CJ’s ability to require Netflix to buy a 5% stake in Studio Dragon, if it chooses.

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Both deals underline the way that Korean TV content has become an important building block for streaming platforms in Asia and also globally. “Our members love great Made-in-Korea stories, and JTBC’s great shows have proven its success in Korea and around the world,” said Netflix.

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