Deepening Collaboration Between Naver and Netflix: Implications for the Webtoon World
Title: Naver and Netflix's Collab: A Winning Match for Growth and Global Domination
Naver CEO, Choi Soo-yeon, addresses the media post-annual general meeting held at Naver's Seongnam offices. The notion that fuels the excitement? A "Naver-Netflix Meetup" held on April 28 in Seoul's Naver Square Jongno - a session to discuss the six-month synergy between these two powerhouses. [NAVER, NETFLIX]
The partnership's core objectives? They're ambitious, to say the least. Expect a boost in South Korean subscriber numbers for Netflix as a result of the bundled membership offer launched in November 2023. With Naver members scoring Netflix's ad-supported plan for free, the monthly active users surged from a modest 10 million to an impressive 14 million. Naver, meanwhile, saw a whopping 1.5-fold increase in daily new signups to its membership service. [4][3][5]
What about content? Well, Naver Webtoon is bubbling with popular IP just waiting to be tapped! Blockbuster hits like "All of Us Are Dead," "Sweet Home," and "Trauma Center: Golden Hour" have been an instant success on Netflix, creating a golden pipeline for high-demand content and solidifying their market dominance. [4][2]
But it's not just about content. This collaboration is a toe-hold for Naver to venture beyond Korea - especially North America - in both content and possibly digital services and AI. [3]
Together, these superpowers have masterminded integrated marketing campaigns and seamless user experiences. Take the “Nenet” brand campaign or content tie-ins with Netflix's phenomenal series, "Squid Game." These collaborative efforts have sparked increased interest in both established and new shows, inciting innovative consumption behaviors like binge-watching Netflix shows and quickly diving into Naver services for related tasks such as dining reservations or shopping. [5]
In essence, Naver and Netflix's alliance aims to breed mutual growth in subscribers and global reach, milk webtoon-based intellectual property, break into untapped markets, and create cutting-edge, immersive digital experiences for users. [4][5]
Bonus fun facts: 🌟 Netflix previously faced a thorny predicament as K-dramas delivered gargantuan audiences, yet spiked production costs. Now, with Naver as a loyal partner, those issues are becoming a thing of the past.🌟 Curious about Naver Webtoon? Picture this: the Japanese series "Senpai Is an Otokonoko" (2023-25) displays a New York Times Square billboard - one of their flagship titles! [NAVER WEBTOON]🌟 The groundbreaking collaboration even transformed member interaction, allowing users to chat with their favorite webtoon characters thanks to Naver's AI technology. Talk about a fantastic voyage!
- The collaboration between Naver and Netflix, as seen in their Seoul meeting, aims to boost the subscription numbers of Netflix, specifically in South Korea, through bundled membership offers, and at the same time, increase daily new signups for Naver's membership service.
- Leveraging Naver Webtoon's popular intellectual properties, such as "All of Us Are Dead," "Sweet Home," and "Trauma Center: Golden Hour," the partnership aims to create high-demand content and solidify their market dominance, extending their reach beyond Korea, particularly into North America.
- Beyond content, this alliance presents an opportunity for Naver to diversify into digital services and AI, potentially venturing into untapped markets, and masterminding integrated marketing campaigns and seamless user experiences, such as the “Nenet” brand campaign and content tie-ins with Netflix's series like "Squid Game."
