Netflix Films Duke it Out in Theaters by HWANG Hee-yun / Mar 06, 2018
Box Office Results of Netflix Originals
The secret to Netflix’s success is in its original shows and movies. There is a lot of original content available only on Netflix, so people choose to pay a subscription. The online streaming giant understands consumer behavior and has increased investment in its original content. Last year, Netflix sank USD 6 billion into its original shows and movies, while this year it will embark USD 8 billion. This USD 2 billion production budget increase shows that Netflix’s content investment has been a big success. With production costs of USD 90 million, Bright (2017) recorded 11 million streaming viewers in its first three days, without a theatrical release. Stranger Things: Season 2 (2017) received an explosive response, garnering 15 million viewers over the first four days of its release. As of the end of last year, the streaming company has about 120 billion subscribers.
Among Netflix originals, some exceptions have been made for Korean audiences despite the company’s disinclination to release in theaters: BONG Joon-ho’s Okja (2017) and the currently released hit What Happened to Monday? Backed by USD 50 million from Netflix, Okja was given a theatrical release in Korea only after BONG’s request and attracted 321,550 moviegoers from 108 screens across 84 theaters. At that time, major cinema distributors refused to show Okja over Netflix’s “no hold-back time” policy, which caused conflicts between the streaming company and theaters. For this reason, the latest Netflix original film What Happened to Monday? is not available on Netflix in Korea. This sci-fi flick is playing exclusively in CGV theaters in Korea while it is streaming on Netflix in the United States. Thanks to its creative subject matter and well-made story, What Happened to Monday? has brought in 697,169 moviegoers in Korea so far.