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Netflix sued? Popularity of Squid Game lands streaming giant in hot water

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Millions of viewers have been sucked into the terrifying world of Squid Game.

Released only a fortnight ago, the South Korean series has hit number one on Netflix in an incredible 90 countries.

In fact… this is the reason Netflix is in hot water with South Korea

A South Korean internet service provider is suing Netflix over the increased traffic thanks to its growing popularity in the country

SK Broadband claims that Netflix is South Korea’s second-largest traffic generator, after YouTube, and other streaming giants such as Facebook and Apple, who are paying network usage fees.

Google’s YouTube and Netflix the two are the only companies to not pay network usage fees.

What does Seoul want?

Essentially – SK Broadband’s lawsuit wants Netflix to pay for network access.

A Seoul court said Netflix should “reasonably” give something in return to the internet service provider for network usage.

Many South Korean politicians agree, and have spoke out against content providers who do not pay for network usage, despite the insane amount of viewers generating usage traffic.

SK Broadband says Netflix’s data traffic handled by the service had jumped 24 times from May 2018 to 1.2 trillion bits of data processed per second as of September – this stat is largely due to Squid Game.

In its court documents, SK estimated the network usage fee Netflix needed to pay was about 27.2 billion won ($31.55 million) in 2020 alone.

Will Netflix pay?

Well – they don’t want to.

Netflix said it would review SK Broadband’s claim for increased network traffic and maintenance work costs.

Reuters reported that Netflix had previously brought its own lawsuit on its obligation to pay SK Broadband network fees. The world’s largest streaming giant argued its obligation is to create the content and make it accessible.

Netflix has significantly increased its presence in South Korea and says its brought a lot of dollars to the Asian country.

In fact, Netflix said it had invested 770 billion won in South Korea’s TV and film production industry, adding an extra 16,000 jobs.

According to Bloomberg, Netflix committed to this year spending $US500 million in South Korea to capitalise on what was one of its fastest-growing markets.

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Experts warn AI could trigger ‘Grey Swan’ events in the global economy

Experts warn that AI could trigger ‘grey swan events’ posing risks to economic stability, demand resilience strategies.

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Experts warn that AI could trigger ‘grey swan events’ posing risks to economic stability, demand resilience strategies.


As excitement around artificial intelligence reaches new heights, experts are cautioning that the technology could spark unexpected disruptions known as ‘grey swan events’. Unlike black swans, these events are somewhat foreseeable but often underestimated, posing real threats to economic stability.

David Scutt from StoneX joins Ticker to break down what grey swans are, their potential impact on AI, and how legal, security, and innovation risks could shake the industry. He also explains how the pace of AI advancement makes it harder to anticipate and prepare for these shocks.

From resilience strategies for policymakers to the concept of antifragility coined by Nassim Nicholas Taleb, this discussion offers insights into how the world might navigate the growing AI landscape.

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#AI #GreySwan #TechRisks #InnovationShock #ArtificialIntelligence #GlobalEconomy #DavidScutt #TickerNews


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Oscars move to YouTube in landmark streaming deal from 2029

YouTube will stream the Oscars exclusively from 2029, making it free for over two billion users worldwide.

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YouTube will stream the Oscars exclusively from 2029, making it free for over two billion users worldwide.


The Academy of Motion Picture Arts and Sciences has struck a landmark agreement with YouTube to stream the Oscars exclusively from 2029, marking a major shift for Hollywood’s biggest night.

YouTube will hold global rights to the ceremony from 2029 to 2033, making the event free to its more than two billion users worldwide, with added features like red carpet coverage and behind-the-scenes access.

The move reflects changing viewing habits as audiences increasingly turn to digital platforms for live events.

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#Oscars #YouTube #StreamingWars #Hollywood #FilmIndustry #DigitalMedia #EntertainmentNews #AcademyAwards


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NSW weighs urgent gun law changes after Bondi shooting as firearm caps spark backlash

NSW government to discuss urgent firearm legislation changes after Bondi Beach shooting amid rising violence concerns.

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NSW government to discuss urgent firearm legislation changes after Bondi Beach shooting amid rising violence concerns.


The New South Wales government is set to discuss urgent changes to firearm legislation next week following the Bondi Beach shooting, reigniting the national debate over gun control and public safety.

The proposed reforms are aimed at tightening access to firearms and limiting individual ownership, as authorities respond to concerns about rising violence across the state.

With the number of registered firearms in NSW surging over the past decade, lawmakers say swift action may be needed to prevent further harm.

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#NSWPolitics #GunControl #FirearmLaws #BondiShooting #PublicSafety #AustralianNews #BreakingNews #TickerNews


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