Netfl
Overview
Netfl (넷플) is a common Korean abbreviation for the American media company Netflix, Inc. and the subscription video streaming service (OTT) it operates. It started as a DVD mail rental business in 1997, switched to streaming in 2007, and is now available in more than 190 countries; it is regarded as the company that effectively set the global OTT market standard. In Korea, since officially launching in January 2016, it has served as the epicenter of the globalization of K-content, including 《Squid Game》.
Key details
Founding and business transition
Founded in 1997 by Reed Hastings and Marc Randolph in Los Gatos, California. Its DVD-by-mail rental model with no late fees threatened the then video rental chain Blockbuster, and in 2007 it launched "Watch Instant" and transitioned to the streaming era. Starting with 《House of Cards》 in 2013, it made large investments in original content, expanding its identity from a simple distribution platform to a production studio.
Business model
Monthly subscription fees are the core revenue source. In November 2022, it introduced a low-cost ad-supported plan, lowering the price entry barrier, and in 2023 it expanded its account-sharing crackdown policy worldwide, greatly increasing paid subscribers. As of the end of 2024, global paid subscribers exceeded about 300 million, and the share of ad-plan subscribers is rising rapidly.
Content strategy
A distinguishing feature is its "local original" strategy, collaborating with local creators in Korea, Japan, India, Spain, Brazil, etc. In Korea, 《Kingdom》, 《Squid Game》, 《D.P.》, 《Hellbound》, 《The Glory》, 《My Name》 etc. became hits, making it a global distribution channel for Korean content. At the same time, it refines content planning and marketing through algorithm-based personalized recommendations, thumbnail/artwork A/B testing, and viewing data analysis.
Technology infrastructure
Through its self-built CDN, "Open Connect," it directly interconnects with ISPs to distribute traffic and reduce latency. Adaptive bitrate streaming, 4K/HDR/Dolby Atmos support, offline downloads, and automated multilingual subtitles/dubbing combine to provide stable playback quality even in large-scale concurrent access environments.
Plans and usage
It operates tiered plans such as ad-supported, Standard, and Premium, and applies pricing policies tailored to each country's cost of living. It is available on various devices such as smart TVs, mobile, tablets, consoles, and set-top boxes, and is expanding its service scope to mobile games and live events.
Latest trends
The biggest change in 2024–2025 is the expansion of live streaming and advertising businesses. In November 2024, it attempted large live broadcasts such as a boxing event, and from January 2025, it exclusively broadcast professional wrestling organization WWE's weekly program 《RAW》, entering the sports/live arena. Regular sports content programming, such as Christmas NFL broadcasts, is also continuing.
On the content side, in December 2024, 《Squid Game》 Season 2 was released and once again set global viewing records, and in June 2025 the series concluded with Season 3. In 2025, the animated film 《KPop Demon Hunters》, with Korean production staff participating, was recorded as one of the highest-grossing works of all time, showing the diversification of genres in K-content.
On the business side, it is shifting advertising technology from external reliance to its own ad tech, and is pursuing plan reorganization along with price increases in some regions. In addition, experiments using generative AI for production efficiency and dubbing/subtitle automation are expanding, while debates over creator rights and job issues are also growing. In the Korean market, competition with domestic OTTs such as TVING, Wavve, and Coupang Play is intensifying, and amid ongoing discussions of integration among domestic operators, Netflix's original investment scale is steadily maintained.
Related topics
- [[Netflix Originals]]
- [[OTT]]
- [[Squid Game]]
- [[KPop Demon Hunters]]
- [[Streaming service]]
- [[K-content]]
- [[Subscription economy]]