Big Take Podcast: Weekend Listen – BTS Leads Netflix’s Push for Growth in Asia

Date: March 29, 2026
Host: Wan Ha, Bloomberg News
Guests: Lucas Shaw (Bloomberg Managing Editor, Media & Entertainment), Sohee Kim (Asia Entertainment Correspondent)

Episode Overview

This episode focuses on BTS’s return to the stage and Netflix’s strategic use of the boy band’s global appeal to drive growth in Asia. The discussion explores the explosion of Korean pop culture, Netflix’s investments in local content, the platform’s challenges and strategies in key Asian markets, and how major players compete for audiences amid diverse regional tastes and infrastructure.

Key Discussion Points and Insights

1. BTS's Comeback as a Cultural and Streaming Milestone

• BTS Returns: After a four-year hiatus due to military service, BTS reunited for a major comeback concert in Seoul, live-streamed on Netflix.
• Global Impact: Over 100,000 fans attended in Seoul; millions watched on Netflix worldwide. All 82 shows of their world tour sold out rapidly ([01:48]–[02:44]).
• Quote:
  • "To everyone here and everyone watching on Netflix around the world, thank you for joining us tonight." – BTS Member ([01:54])

2. Netflix’s Strategic Bet on Asia

• First Live Asian Concert on Netflix: The BTS concert marked Netflix’s inaugural live-streamed concert from Asia ([02:59]).
• Asia as Growth Engine:
  • “Asia... has been the fastest growing region in the world for them the last few years.” – Lucas Shaw ([03:12])
  • Opportunities to reach hundreds of millions of BTS fans not yet on Netflix.

3. K-Pop's Evolution and Globalization

• K-Pop’s Maturity: Once a niche, K-Pop is now a $9 billion global business and increasingly “borderless” ([06:00]).
• Genre Fluidity:
  • “If you listen to the music, it's... a mix of a lot of pop genres. Now K-pop bands are singing a lot in English... more of like borderless genre right now.” – Sohee Kim ([06:17])

4. Netflix’s Approach to Live Events and Entertainment

• Selective Live Programming: Netflix strategically picks a few massive live events (e.g., World Baseball Classic, K-pop concerts) to maximize impact ([07:56]).
• Long-Term Engagement: Leveraging BTS’s engaged fandom for both unique live events and regular content (like documentaries) ([07:05]).

5. Korean Content: Global Powerhouse

• Squid Game Effect: Korean shows (esp. Squid Game) have proven Netflix’s massive ROI in the region ([08:25]).
• Quote:
  • “Squid Game… remains Netflix’s most watched title of all time. Its first season generated an estimated $900 million in value…” – Wan Ha ([08:25])

6. Market-by-Market Strategies in Asia

• South Korea: Leader in premium content; small by subscriber count but outsized global influence ([09:03]).
• Japan: High-revenue but niche; many local shows/partnerships ([09:42]).
• India & Southeast Asia: Massive potential but low average revenue; requires adapted pricing/content strategies ([09:42]).
• China: Huge but inaccessible due to regulation; too costly to pursue directly ([10:13]).

7. Competitive Dynamics and Local Players

• Disney’s India Journey: Failed solo, partnered with local giants (Reliance/GioStar) to compete effectively ([15:30]).
• Price Wars: Local platforms offer extremely cheap subscription rates (e.g., $0.80/month for GioStar vs. Netflix’s much higher prices), challenging Netflix's model ([16:43]).
• Quote:
  • “I think it is unlikely that you will see a company like Netflix offer their product for as little as GioStar does... it's been a real limiting factor for their growth in some of these more populous but poorer markets.” – Lucas Shaw ([17:06])

8. Challenges of Scaling in Asia

• Diversity: Dozens of languages, varying incomes, and cultural differences make Asia far more complex than other regions ([14:38]).
• Content Infrastructure: Many countries lack robust production ecosystems ([14:38]).
• Consumer Habits: Live fan engagement, tipping, and direct interactions (e.g., on streams) are far more prevalent and monetized in Asia ([18:05]).

9. Localized Content Strategy

• Local-for-Local Programming: Investing in original, local-language series unlocks both regional and global audiences ([19:23]).
• Comparative Competitor Approaches:
  • “Netflix has been the biggest investor in local programming in Asia and the world by leaps and bounds.” – Lucas Shaw ([19:39])
  • Amazon and Disney are increasing local focus but lag behind Netflix.

10. The Future Outlook (2030 and Beyond)

• Predictions: A hybrid market where global streamers dominate in premium, while local platforms remain competitive in key markets ([20:38]).
• Collaboration Trends: Expect more partnerships (e.g., local networks licensing content to global streamers) ([21:09]).
• Quote:
  • “Netflix will still be the most successful premium streaming video service… Local platforms will continue to hold ground in key markets…” – Lucas Shaw ([21:09])

Notable Quotes & Memorable Moments

• “The return of BTS is one of the, if not the biggest, cultural moment of the year in the region. They're the most popular boy band in the world.” – Lucas Shaw ([03:43])
• “K-pop bands are singing a lot in English. So I would say it’s more of like borderless genre right now.” – Sohee Kim ([06:17])
• "Americans spend a ton of money on concert tickets and on merchandise, but there's not as many online and kind of direct transactions and tipping and live streams...just bigger in this part of the world." – Lucas Shaw ([18:05])
• "Let's just partner and benefit from the audience. And I think you could see some of that in Asia if local streaming services don't work." – Lucas Shaw ([21:09])

Key Timestamps

• [01:48]–[02:44]: BTS concert impact and Netflix’s audience reach
• [03:12]–[04:20]: Asia’s importance to Netflix growth; BTS as customer acquisition tool
• [05:20]–[06:17]: BTS’s 2017 breakthrough and maturation alongside K-pop’s global ascent
• [07:05]–[07:32]: Netflix’s business aims with live events and fandom-driven content
• [08:25]–[09:32]: Korea’s global content leverage; Squid Game’s influence
• [09:42]–[10:50]: Japan, India, Southeast Asia, and China strategies
• [14:38]–[15:30]: Asian market diversity and regional challenges
• [16:43]–[17:48]: Price sensitivity and competitive disadvantages for Netflix
• [18:05]–[19:23]: Distinct fan economies and evolution of local content strategy
• [20:38]–[21:09]: 2030 outlook for Asia’s streaming landscape

Summary: Takeaways for Listeners

• Netflix is leveraging mega-events like BTS’s comeback to fuel subscription growth in Asia, where large, passionate fanbases abound but competition is fierce and the business model must be tailored market by market.
• K-pop’s global explosion, spearheaded by groups like BTS, and Korean drama successes (like Squid Game) have made Korean content central to Netflix’s Asian—and global—strategy.
• Localized content and pricing, along with adapting to unique consumer behaviors, are proving essential for streaming giants hoping to thrive in this diverse region.
• The Asian streaming future will likely be hybrid—global juggernauts for premium content, powerful local platforms for mass reach, and an evolving tapestry of partnerships and special events.

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