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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 Reveals Profitability in South Korea msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.