South Korean media company Next Entertainment World (NEW) subsidiary NEW ID’s launch of ‘BINGE Korea’ signifies a pivotal shift in the consumption of Korean content for American audiences.
As the leading provider of curated non-English and non-Spanish language FAST channels in the U.S., NEW ID is leveraging its experience within FAST to create the first FAST service dedicated to Korean content.
‘BINGE Korea’ is accessible via a wide range of platforms, including Samsung, LG Smart TVs, Amazon Fire TV, and plans to expand to Roku, iOS, and Android TV. This broad reach enhances its potential for attracting a larger viewership.
Related Stories
VIP+Cloud Adoption Key to Media Business Exploiting AI
Maggie Smith, Star of 'Downton Abbey,' 'Harry Potter,' Dies at 89
NEW ID is leaning into its existing FAST expertise to create the new service. Already the largest FAST operator in Asia, and per Variety Intelligence Platform analysis, the largest provider of curated non-Spanish language international channels in the U.S. with 12, BINGE Korea will launch with an initial 36 channels.
Popular on Variety
These will be a mix of both curated channels (e.g., “NEW KFOOD”) but also a number of channels based around a single show—known as Single-IP channels in the FAST industry—for shows like “My Unfortunate Boyfriend” and kids shows like “Robocar POLI.” The company has aims for 100 FAST channels to be available within the first year of launch.
It’s a great time to launch a FAST service geared toward Korean content. A recent study by the Korean Ministry of Culture, Sports and Tourism estimated that 43% of American streamers watched content made in Korea in 2022, second only to domestic productions.
The booming Korean content market has been a magnet for major investments, with Netflix pledging to spend $2.5 billion over the next four years in South Korea. This significant investment reflects the platform's confidence in the growing popularity and global appeal of Korean content.
The Korea Creative Content Agency estimated in 2018 that about 18 million Americans were fans of Korean TV, a number that’s surely increased post “Squid Game”.
June Park, CEO of NEW ID, highlighted the shift in K-content consumption patterns, stating, “Over the past four years, we have expanded and operated genre-specific Korean content channels on global FAST platforms, which were previously barren lands for Korean content. 'BINGE Korea' encapsulates the increased interest in Korean content onto a single platform, marking a shift from channel-based distribution to platform-based distribution.”
Park added, “We will focus on increasing the brand value and revenue of individual content, targeting both global platform operators and viewers interested in Korean content.”
The U.S. FAST market is estimated to be worth between $4 billion - $6 billion in 2023, representing a great opportunity for anyone able to corner a specific part of the market. With NEW ID already seeing 5.5 million monthly hours of viewing for Korean content in the U.S. and Canada, the launch of BINGE Korea will build upon that and likely inspire other distributors to launch similar services taking advantage of the opportunities that FAST provides.
Read More About:
Jump to CommentsMore from Variety
Korea Box Office: ‘I, The Executioner’ Reaches $40 Million After Second Weekend, as ‘Begin Again’ Enjoys Return
Cloud Adoption Key to Media Business Exploiting AI
Korea Box Office: ‘I, the Executioner’ Achieves $50 Million Total as ‘Joker: Folie a Deux’ Makes Second Place Debut
Netflix Unveils Korean Film Slate, Including First Animated Feature, for 2025 at Busan
‘Hacks’ Post-Emmys Boost Highlights Max’s HBO Problem
Korea Box Office: ‘Executioner’ Reigns as ‘Transformers One’ Makes Second Place Debut
Most Popular
Inside the 'Joker: Folie à Deux' Debacle: Todd Phillips ‘Wanted Nothing to Do’ With DC on the $200 Million Misfire
‘Menendez Brothers’ Netflix Doc Reveals Erik’s Drawings of His Abuse and Lyle Saying ‘I Would Much Rather Lose the Murder Trial Than Talk About Our…
‘Joker 2’ Axed Scene of Lady Gaga’s Lee Kissing a Woman at the Courthouse Because ‘It Had Dialogue in It’ and ‘Got in the Way’ of a Music…
Kamala Harris Cracks Open a Miller High Life With Stephen Colbert on ‘The Late Show’
‘Kaos’ Canceled After One Season at Netflix
Saoirse Ronan Says Losing Luna Lovegood Role in ‘Harry Potter’ Has ‘Stayed With Me Over the Years’: ‘I Was Too Young’ and ‘Knew I Wasn't Going to Get…
Kathy Bates Won an Oscar and Her Mom Told Her: ‘You Didn't Discover the Cure for Cancer,’ So ‘I Don't Know What All the Excitement Is About…
Disney World, Universal Orlando Theme Park to Close as Florida Braces for Hurricane Milton
Sydney Sweeney and Amanda Seyfried to Star in ‘The Housemaid’ Adaptation From Director Paul Feig, Lionsgate
‘Joker 2’ Director Says Arthur Fleck Was Never Joker: ‘He's an Unwitting Icon’ and Joker Is ‘This Idea That Gotham People Put on Him…
Must Read
- Film
COVER | Sebastian Stan Tells All: Becoming Donald Trump and Starring in 2024’s Most Controversial Movie
By Andrew Wallenstein 3 weeks
- TV
Menendez Family Slams Netflix’s ‘Monsters’ as ‘Grotesque’ and ‘Riddled With Mistruths’: ‘The Character Assassination of Erik and Lyke Is Repulsive…
- TV
‘Yellowstone’ Season 5 Part 2 to Air on CBS After Paramount Network Debut
- TV
50 Cent Sets Diddy Abuse Allegations Docuseries at Netflix: ‘It’s a Complex Narrative Spanning Decades’ (EXCLUSIVE)
- Shopping
‘Deadpool & Wolverine’ Sets Digital and Blu-ray/DVD Release Dates
Sign Up for Variety Newsletters
By providing your information, you agree to our Terms of Use and our Privacy Policy.We use vendors that may also process your information to help provide our services. // This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply.Variety Confidential
ncG1vNJzZmiukae2psDYZ5qopV9nfXN%2Fjqyrq52Roravs46nnLCrX5e2r7PEZqKoqpWWeqet0q1kqaSRqbOwvsxmo5qtnpi1pr%2BMoqVmrJiaerZ50malnq9dnrFuusSxq2adnqmys8DAoqWmnZ6peri70aWbZqOTpLu1sc2tZGpqY2qDeoCPcGto