Netflix co-CEO Ted Sarandos pledged that its bumper investment in South Korean content would not bypass young local talent ... Show more
Quick Glance: Netflix invests $2.5 bln in Korean content, pledges to nurture local talent
- Netflix co-CEO Ted Sarandos pledges that the company's $2.5 billion investment in South Korean content would not bypass young local talent.
- Netflix guarantees fair pay for creators and producers and also nurtures young talent.
- The company plans to expand its content investment to films and non-fiction.
- Scanline and Eyeline Studios Korea, a Netflix subsidiary, will invest $100 million in local content over the next six years, which is additional to the $2.5 billion announced in April.
Quick Glance: Reed Hastings will step down as CEO of Netflix but will remain as executive chairman.
- Reed Hastings, co-founder of Netflix, has announced that he will step down from his current position as co-CEO in a leadership shakeup, but will remain executive chairman of the streaming service giant.
- Hastings, who co-founded Netflix with Marc Randolph in 1997, announced on Thursday that the company's current chief operating officer, Greg Peters, will now serve as co-CEOs alongside Ted Sarandos.
- "Starting today, Greg Peters will step up from COO to become Ted's co-CEO," Hastings said, referring to handing over "the CEO baton to others."
- Bill Gates Tags Netflix Jeff Bezos Netflix Hastings, Reed Ted Sarandos Reed Hastings
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