Is the next “The Squid Game” here? A new South Korean series triumphs on Netflix – KESQ

Angela Reyes

(CNN Business) – A series about a young lawyer has become the new South Korean hit on Netflix, giving investors hope that the production company could have another “Squid Game”-like triumph.

The series “Extraordinary Attorney Woo,” which follows the main character Woo Young-woo as “a rookie at a high-end law firm and a woman on the autism spectrum,” has topped the charts on the streaming platform for the past few years. last two weeks.

It was the most-watched non-English TV show on Netflix worldwide between July 4 and July 17, according to company data. The series ranked number one in that category in eight countries and appeared in the top 10 in 22 countries, Netflix said.

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That’s good news for Astory Co., the South Korean studio also known for hits like “Kingdom,” another blockbuster series for Netflix.

Shares of the production company have soared 74% in Seoul since the premiere of “Extraordinary Attorney Woo” in late June.

It also bodes well for Netflix, which is increasingly producing international original content and leaning on growth prospects abroad.

In a blog post published on Wednesday, Netflix highlighted the series’ success, saying it had gained traction in places like Indonesia, Malaysia, Singapore, Thailand and Vietnam after airing in 31 languages.

In recent years, Netflix has directed more of its capabilities overseas, particularly to the Asia-Pacific region, where it continues to post growth that helps offset declines in other regions.

Just on Tuesday, the company reported that it had added 1.1 million subscribers in Asia in the second quarter, while losing users in markets such as the United States and Canada.

South Korean content is especially important to the streaming giant after the massive success of “Squid Game” last year, which became the company’s biggest show globally.

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Is the next “The Squid Game” here? A new South Korean series triumphs on Netflix – KESQ