Netflix to Invest $2.5 Billion in Korean Productions

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Materials Daily News

Intermediate

Exercise 1

Vocabulary

invest

Verb

ɪnˈvɛst

to put money into something with the goal of making more money

The company has invested $1.3 million overall into the new project.

production

Noun

prəˈdʌkʃn

a film, play, etc. considered in terms of its creation or performance; the process of or work involved in making a film, play, etc.

The director's latest production is expected to be a huge success.

The film was canceled six weeks into production due to a lack of funding.

unscripted

Adjective

ʌnˈskrɪptɪd

said or performed without a prearranged plan or script

Unscripted reality shows are popular for their drama and conflict.

welcome

Verb

ˈwelkəm

to react with happiness or approval

Residents welcomed the proposal to put a playground in the park.

exceptional

Adjective

ɪkˈsɛpʃənl

extremely or unusually good; unusual

The designers at this advertising company always do exceptional work.

Extensions will only be given in exceptional circumstances.

confidence

Noun

ˈkɑːnfɪdəns

a belief that one can trust or rely on a person or thing; a belief in one's own abilities or skills

I have a lot of confidence in every member of my team.

She lacks confidence in herself.

Exercise 2

Article

AI Generated Audio––:–– / ––:––

Netflix to Invest $2.5 Billion in Korean Productions

Netflix plans to invest $2.5 billion in new South Korean productions of TV series, movies and "unscripted" shows over the next four years.

The new investment is double Netflix's total spending in South Korea since it started services there in 2016, Netflix Co-CEO Ted Sarandos said.

Sarandos and South Korean President Yoon Suk Yeol announced the investment plan in Washington, DC, ahead of Yoon's meetings with US President Joe Biden.

Yoon welcomed the "exceptional" investment by Netflix. He said it offers a "new beginning" for South Korean creators.

Sarandos thanked Yoon for his support of the South Korean entertainment industry and the "Korean wave," or hallyu — the international growth of South Korean popular culture, including music, TV shows and movies.

Sarandos said Netflix's investment decision shows the strong global interest in programs from South Korea. He referred to the success of hits such as the TV series Squid Game, which is Netflix's most popular show ever.

In the first 28 days after Squid Game was released in September 2021, Netflix customers watched it for a total of over 1.6 billion hours — that's over 182,000 years.

"We were able to make this decision because we have great confidence that the Korean creative industry will continue to tell great stories," Sarandos said.

Over 60% of Netflix customers watched South Korean shows — or K-content — in 2022.

In January, the company announced its "biggest ever" list of Korean films and TV series, including 34 new ones for this year.

Exercise 3

Questions

When did Netflix start operating in South Korea?

When was Squid Game released?

How many Korean films and TV series will Netflix release in 2023?

Exercise 4

Discussion

What are your thoughts on Netflix's plans for South Korean productions?

Have you watched many South Korean TV shows or movies? If so, which would you recommend?

Are you a fan of K-pop or other aspects of the Korean wave?

Do you watch a lot of TV shows and movies from other countries?

What TV shows or movies made in your country have seen the most international success?

Exercise 5

Further Discussion

Do you use Netflix? If so, when did you first sign up?

What are the most popular streaming services in your country?

Do you know anyone who doesn't use any streaming services?

Have your TV-watching habits changed since streaming became popular?

How do you usually decide which TV shows or movies to watch?

Source

This lesson is based on an article by Bill Smith.