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

Published

3 years ago

October 4, 2021

Brittany Coles

Have you seen Squid game on Netflix yet? It’s on track to become Netflix’s most popular show ever and this is the very reason a South Korean internet service provider has sued Netflix

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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Streaming service shift and the award season snubs

Published

3 months ago

January 24, 2024

Mike Loder

Netflix Introduces Changes to Subscription Model, Academy Award Nominations Spark Cinematic Buzz, and the Doomsday Clock Continues its Ominous Ticking.

Netflix is set to discontinue its ad-free Basic subscription in select countries, commencing with Canada and the UK in Q2 2024.

This strategic shift introduces a significant price increase for the baseline entry, signalling potential adjustments to Netflix’s global pricing structure.

Simultaneously, the 96th edition of the Academy Award nominations has stirred cinematic debates, with the prevailing question being whether the upcoming season will be dominated by “Barbie” or “Oppenheimer.” These contrasting narratives set the stage for a fierce competition, highlighting the diverse and compelling offerings in this year’s film industry.

Beyond the realm of entertainment, the Doomsday Clock, a symbolic representation of the likelihood of a human-made global catastrophe, continues its ominous countdown.

Maintained since 1947 by the Bulletin of the Atomic Scientists, the clock serves as a metaphor for threats arising from unchecked scientific and technological advances. As global tensions, environmental challenges, and technological risks persist, the ticking of the Doomsday Clock serves as a poignant reminder of the urgent need to address multifaceted threats to humanity.

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Adidas faces potential $320M Yeezy shoe write-off post-Kanye split

Published

5 months ago

November 9, 2023

ticker NEWS

Adidas is contemplating a significant financial blow as it considers writing off $320 million worth of Yeezy shoes following its separation from music and fashion icon Kanye West.

The sportswear giant’s decision to sever ties with West’s Yeezy brand has left a mountain of unsold merchandise, threatening to dent the company’s balance sheet.

The partnership between Adidas and Kanye West, which began in 2013, had been immensely successful, with Yeezy shoes becoming a highly sought-after fashion statement.

However, recent controversies and disagreements between West and Adidas prompted the sportswear company to distance itself from the celebrity designer.

The massive inventory of Yeezy shoes now presents a dilemma for Adidas, as it grapples with finding a solution to deal with the surplus stock. A $320 million write-off could significantly impact the company’s financial performance in the short term.

Adidas is currently exploring various options, including discounting, donating, or repurposing the unsold inventory to mitigate the financial hit.

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Warner Bros discovery warns of Hollywood’s ‘real risk’ post-strikes’

Published

5 months ago

November 9, 2023

ticker NEWS

Warner Bros Discovery, has issued a stark warning regarding the ‘real risk’ that Hollywood faces in the aftermath of the recent strikes that have taken a considerable toll on the industry’s financial health.

The strikes, which disrupted film and television production for several weeks, resulted in substantial financial losses for studios, production companies, and countless industry professionals.

Warner Bros Discovery emphasised the necessity for a resilient and adaptable approach to navigate the ongoing challenges and uncertainties facing the film and television sector.

The conglomerate stressed the importance of implementing measures to mitigate such risks in the future, which include fostering better labour relations and contingency planning to safeguard against potential disruptions.

The message underlined the need for the industry to adapt to the evolving landscape of content creation and distribution, particularly in the digital era.

This warning from Warner Bros Discovery highlights the need for the entertainment industry to recognise the ever-changing dynamics and economic challenges, and the importance of preparedness to maintain its prominent position in the global market.