Seoul court rules Netflix should pay network usage fee
econotimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econotimes.com Daily Mail and Mail on Sunday newspapers.
Court rules against Netflix in network usage fee dispute – The Korea Times
koreatimesus.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimesus.com Daily Mail and Mail on Sunday newspapers.
The Silent Sea
Revenue for the streamer s local unit, which was required to issue a profit and loss statement for the first time due to a new local law, more than doubled.
Netflix provided a rare snapshot of its business fundamentals in South Korea this week a new requirement for all large companies based there under local law. The results show the global streaming giant building a robust business in the East Asian country despite steadily escalating content spending.
Netflix s South Korean business unit saw its revenue climb to $356 million (415.45 billion won), a surge of 123.5 percent compared with 2019. Operating profit, meanwhile, reached $7.5 million (8.82 billion won), up 295 percent, according to the filing.
Netflix Korea s revenue more than doubles in 2020
Posted : 2021-04-13 10:01
gettyimagesbank
Netflix saw its revenue more than double in South Korea last year as the video streaming giant enjoyed rapid user growth amid the pandemic, its filing showed Tuesday.
Netflix Services Korea Ltd. s sales last year stood at 415.45 billion won (US$356 million), up 123.5 percent from the previous year, while operating profit reached 8.82 billion won, up 295 percent over the cited period, according to the filing.
Most of the company s sales last year came from user streaming fees, which stood at 398.8 billion won, compared with 175.6 billion won the previous year.
This is the first time that the company has disclosed its financial statement since 2016, when it started offering its services in South Korea.