‘Squid Game’ Success Stems From Netflix’s Local-First Strategy, Says Asia Content VP Minyoung Kim: ‘We Always Aspire to Make Big, Bold Swings’

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In my perspective, rather than struggling to replicate worldwide successes like Hollywood, Netflix’s approach to crafting the sensational “Squid Game” was refreshingly straightforward.

In a world where popular streaming services strive for broad appeal, Netflix thrives globally by emphasizing regional nuances significantly. This approach, as explained by Minyoung Kim, Netflix’s Asia (excluding India) Content Vice President, was instrumental in the unparalleled success of “Squid Game” and continues to guide content choices within Asian markets.

Or, more concisely:

Netflix dominates globally by focusing on regional specificity; this strategy, led by Minyoung Kim, Asia Content VP (excluding India), contributed to the extraordinary success of “Squid Game” and influences content decisions across Asian markets.

In a chat with EbMaster during Netflix’s ongoing Asia Pacific event in Tokyo, Kim explains that when we created ‘Squid Game’, it wasn’t our intention to make a globally successful show. Instead, we aimed to find stories that would resonate strongly within the local market and deeply touch our local audience.

The philosophy that emphasizes cultural relevance within a show’s local setting rather than global popularity might appear contradictory to Netflix’s worldwide objectives. However, Kim, who joined Netflix in 2016 as one of its early content executives based in Asia, maintains this strategy remains consistent, even with “Squid Game” becoming one of the platform’s most-watched series of all time.

Kim stated, ‘We’re not intending to replicate the success of ‘Squid Game.’ Instead, we focus on finding shows that resonate strongly with our local audience and provide them with entertaining content tailored to their preferences.’

In charge of all movies and shows for the region, Kim emphasizes that authenticity is the essential element making local content appeal globally. Kim explains, “A locally genuine story that can stir universal emotions is what I believe truly propels a show to reach wider audiences.

Netflix’s guiding principle in Asian markets is an unconventional strategy: concentrating heavily on appealing to local tastes rather than aiming for global crossovers. As Kim clarifies, this necessitates having teams immersed within each region who grasp the cultural intricacies that resonate with their specific audiences.

She states, “When it comes to Korean, Japanese, or Thai content, each has its own specific audience. The same rule applies for all shows we produce – every choice we make is guided by ensuring we cater to the local audience and ultimately become a significant cultural influence in that particular region.

Kim’s path to becoming one of Netflix’s prominent content executives in Asia involves stints at various significant media corporations. Before joining Netflix, she managed Twitter’s content collaborations for the Asia Pacific region, an experience she attributes to expanding her understanding of what comprises content in today’s digital era.

Prior to Twitter, my professional background was in production companies. To me, the term ‘content’ meant multi-million dollar film budgets or television dramas. When I joined Twitter, people frequently discussed ‘the content strategy,’ which left me somewhat perplexed, thinking, “What exactly is ‘content’? Here, we don’t have content; we have tweets.

This realization – discovering that a 140-character tweet can be regarded as content – has broadened Kim’s perspective, which remains influential in her current work. In her words, “It was an eye-opening experience for me, expanding my understanding of what constitutes content. This insight continues to guide us as we strive to present a diverse range of stories.

The streaming industry has significantly changed since Netflix initially entered Asian markets. In numerous countries, what was originally a disrupter is now an established player. When asked about maintaining an edge while going mainstream, Kim explains, “Ideally, we see ourselves as partners to the industry. Our goal has always been to strive for diversity and a wide range of content.

Kim emphasizes that keeping consistency as the business grows necessitates delegating creative choices. “Had I been the sole decision-maker, I believe we wouldn’t have reached our current success. However, my team in each market makes those decisions and takes calculated risks. That’s part of who we are, so we strive to make daring, impactful moves.

Despite a slowdown in streaming post-pandemic impacting numerous industry players, Netflix is choosing to boost its investments in Asia, focusing heavily on local content creation. As Kim explains, “APAC stands out as one of our regions with exceptional growth potential.” She adds, “The beauty of working at Netflix lies in understanding that when we’re expanding, it’s crucial to make forward-looking investments.

Beyond merely producing additional content, Netflix is also investing significantly in educational programs for content creators and production teams. According to Kim, it’s crucial that the broader regional entertainment industry evolves concurrently with Netflix’s aspirations, as their growth goes hand-in-hand.

When queried on the key metrics for assessing content success – completion rates, virality or cultural significance – Kim swiftly responds: “Cultural resonance is always paramount. Human emotions hold the greatest sway, and when you can weave a tale that strikes a chord with your audience, culturally and personally, it stirs those deep-seated human emotions.

According to Kim’s perspective, it seems that Asian content is still untapped in terms of its full potential with worldwide viewers. In other words, the investments we have made so far and those we plan to make this year and beyond are intended to ensure that content from any Asian country will be recognized by global audiences.

She remarks, “Many believe we’ve already achieved our zenith with APAC content. However, the high demand for APAC content suggests otherwise. In reality, we’re barely scratching the surface. The programs my team and I at Netflix Asia are creating have far greater potential than what we’ve seen so far.

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2025-04-21 13:17