Korean netizens' comments about the costs increase on Netflix? Where did the money from the squid game go?

OTT Netflix announced that it will raise costs in the UK and Ireland following the United States and Canada. How much is the price going up in Korea?

Netflix has increased the Basic and Standard plans by £1 each and the Premium plan by £2 per month. Similar to the UK, Ireland also raised the price of each plan by 1-3 euros per month. If it goes up in Korea, it is expected to cost around 2~3,000 won.

It is being pointed out that the timing is not very good 

The UK raised prices again in 18 months after raising prices in December 2020. In addition, this time, the basic rate plan, which has not raised the price for 10 years, is also raised, and it is expected that a large number of consumers will leave.

Netflix gave a principled answer to the Guardian, saying, “The price has been increased to provide high-quality content to its membership members.”

Netflix in Korea announced a surprise price increase in November of last year. The target of the increase is 13,500 won (12.5%↑) and 17,000 won (17.2%↑), respectively, for standard and premium rate plans excluding Basic.

Despite the success of the squid game in Korea?

Some point out that this is an excessive increase in a situation where Netflix oligopolizes profits from the worldwide box office success of 'Squid Game'. There is also an analysis that the price may be raised in advance in anticipation of the passage of a bill related to network usage fees. However, Netflix's official position is that the subscription fee increase is a separate matter.

Netflix said, "For the first time since the launch of the Korean service in 2016, the subscription fee for the standard and premium plans has been reduced to raise the quantitative and qualitative level of the work catalog and to continuously produce and invest in excellent Korean content such as 'Squid Game' and 'Hell'. raised,” he said.

Corporate Social Responsibility (ESG)

Netflix is ​​an innovative company that has provided entertainment to people around the world during the COVID-19 crisis. Due to the nature of the IT platform company, unlike in the manufacturing, there is little increase in employment and payment of social incidental costs. Nevertheless, excessive price increases in rapid succession increase the burden on viewers and may indirectly cause inflation. In terms of corporate social responsibility, I hope that the price increase should be reduced a little...

What do Korean netizens think? (In order of likes)

A : It raised a while ago...

B : If Netflix raises the price, I immediately cancel... Well, after watching Netflix for a month, there is not much to watch.

C : I'll go to Disney or Apple TV if they raise the price.

D : I understand up to 17,000 won. If it goes higher than this, it will be cancelled.