Netflix Effect! From Life Beyond the Screen to Culture and the Economy… $325 Billion in Value for the Global Economy!

Netflix has released the “Netflix Effect,” spotlighting the economic, cultural, and social impact its content has had worldwide over the past 10 years—from viewers’ daily lives to the creative ecosystem, local communities, and the broader industries.

According to the Netflix Effect, Netflix has invested more than $135 billion in films and series since 2016, creating more than $325 billion in additional value for the global economy. It also appears to have activated local economies by producing series and films in more than 4,500 cities and towns across over 50 countries, with total impact on the growth of the creative ecosystem through more than 425,000 jobs.

In this Netflix Effect, each title’s ripple effects were introduced through 10 key themes, including: nurturing creators and production talent; sparking tourism demand based on content; contributing to the global economy through content investment; rediscovering licensed content and expanding the audience; and providing global career growth opportunities for creators and cast members.

As Netflix content from a variety of countries—including the United States, Japan, India, France, Norway, and South Africa—was featured, Korean content, creators, and cast members also made a significant mark on the Netflix Effect.

Named as a representative case, 〈Squid Game: A Shot to the Heart〉 contributed more than 90 billion won to the Korean economy and was highlighted as a key piece of content for boosting local economic activity and sparking tourism demand. To recreate a range of time periods and settings, more than 600 cast and staff members and about 4,000 partner companies took part in the production process, introducing the beauty of Jeju Island to the world. In fact, the success of K-content has also translated into increased tourism demand: according to the Korea Tourism Organization, the number of foreign visitors who visited Korea this year’s first quarter reached a record high of 4.76 million, up 23% year over year. In addition, among Netflix users, 72% who watched Korean content said they are interested in visiting Korea—making the impact of K-content tangible.

Beyond that, 〈K-Pop Demon Hunters〉 sparked a global craze for Korean culture, won two awards at the Academy Awards, and its theme song “Golden” became the first K-pop song ever to win a Grammy Award. Also, according to the language-learning app “Duolingo,” the number of Americans learning Korean rose by 22%, and bookings for airline tickets to Korea surged by 25%.

This momentum was also evident in the fashion and food culture industries. The iconic green tracksuit from 〈Squid Game〉 ranked No. 1 in Halloween costume searches for two consecutive years, and the white Vans slip-on saw sales jump to nearly 8,000% after the show aired, influencing viewers’ fashion spending. In addition, 〈Chef Battles: War of Culinary Classes〉 raised the average reservation rate at the featured chefs’ restaurants by 148% during its run, expanding opportunities for viewers to experience a new side of food culture and bringing energy back to a struggling dining-out industry.

Along with this, creators who expanded globally by using Netflix as a stepping stone were also introduced, including Director Ma-gyu Kang of 〈K-Pop Demon Hunters〉 and screenwriter Eun-hee Kim, who sparked a global K-zombie syndrome through the 〈Kingdom〉 series.

Netflix CEO Ted Sarandos said in a newsroom blog, “Ten years ago, when Netflix expanded from about 60 service countries to more than 190 in a single day, we knew we needed to start thoroughly at the local level to become truly global.” He added, “The reason we invest tens of billions of dollars in content every year, expand production facilities from Spain to as far as New Jersey, and provide training programs to more than 90,000 people across more than 75 countries is to support the growth of the entertainment industry.” He continued, “Going forward, we will continue investing in the relationships we have built with creators we’ve worked with over the past decade, local communities, and fans who love the content.”