[Reporter’s Notebook] Netflix CEO’s Exactly '3-Minute Presentation' at Temporary Press Room

30 minutes. This was the amount of time Ted Sarandos, co-CEO of Netflix, the number one online video service (OTT) company in South Korea by subscription rate, spent in the ‘temporary’ press room during his 2-day visit to Korea. Netflix held its annual ‘One-Day Press Room’ event on the 16th, a month earlier than originally planned, to coincide with Sarandos CEO’s business trip.

The purpose of the One-Day Press Room is communication between Netflix staff and the media. However, there was no such communication during the press room held to coincide with Sarandos CEO’s visit. Of course, the company had announced in advance that there would be no separate Q&A session.

Other than briefly expressing his anticipation for visiting the Squid Game 2 studio and sharing about three minutes of impressions on his visit, he did not hold an official Q&A session. When asked by reporters if there were any plans to change subscription fees, he simply replied, “There are no plans to announce anything at this time.” As previously announced, most of the time spent in the press room was used walking around the tables where about 70 reporters were seated, shaking hands. If a conversation at one table lasted too long, staff members standing next to him quickly diverted his attention to the next table. There was no chance to ask questions about the recently tightened crackdown, which has effectively been described as a ‘paid account sharing policy’ or a fee increase.

However, in a situation where OTT-related issues are drawing attention, the response of Netflix, the industry leader that even set up a press room to attract media interest, inevitably leaves much to be desired.

Netflix did not disclose the details of the CEO’s 2-day schedule. It was only reported that on the 17th, he visited the Presidential Office to discuss ‘activation of investment in Korean content.’ Netflix’s approach contrasts sharply with domestic OTT companies, which are sensitive even to small government moves such as ‘checking the current status of subscription plans.’ Domestic OTT providers are complaining, saying, “We are still running at a loss, and even messages to lower fees inevitably hurt investment.”

At a time when the ‘OTT subscription plan’ issue is heating up in Korea, the press room and the CEO’s visit appear to be a lackluster schedule. The communication efforts of the industry’s top company seem even more urgently needed.

This content was produced with the assistance of AI translation services.