Netflix's South Korea Revenue Surpasses 400 Billion Won Last Year... More Than Double Compared to Previous Year
[Asia Economy Reporter Choi Dae-yeol] Netflix's domestic sales last year exceeded 400 billion KRW. This is more than double compared to the previous year.
According to the audit report released on the 12th by Netflix Services Korea, last year's sales amounted to 415.5 billion KRW, an increase of over 123% compared to one year earlier. Operating profit was 8.82 billion KRW, about four times higher during the same period.
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Netflix's main source of revenue is the monthly subscription fees paid by its members. Last year, streaming revenue (subscription fees) reached 398.8 billion KRW, a 127% increase from the previous year. This is the first time Netflix has disclosed its domestic business financial statements since launching its service in Korea in 2016, in accordance with the revised "Act on External Audit of Stock Companies" (External Audit Act).
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