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Netflix's (NFLX) Series Dominate Busan's Asia Content Awards

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Netflix’s (NFLX - Free Report) content portfolio is firing on all cylinders which is evident from the numerous accolades and awards it has been receiving across languages and genres including 44 Emmys wins in total this year.  

Recently, the streaming giant’s original Korean shows Move to Heaven and Sweet Home emerged as the biggest winners, winning three awards each at the 3rd Asia Contents Awards (ACA).

ACA is an annual award launched by the Asian Contents & Film Market of the Busan International Film Festival (BIFF) in 2019 to recognize excellence in TV, OTT (online video streaming platform) and web content throughout Asia.

Move To Heaven, which was released on May 14, tells the story of a trauma center cleaner who throws away the belongings of a person who has recently died. The series won the Best Creative Award along with the best writer for Yoon Ji-ryun and best actor for Lee Je-hoon.

Director Lee Eung-bok's monster horror series Sweet Home took home the best technical drama award, while actress Go Min-si won the best newcomer award, and actor Song Kang won the ACA Excellence award, which is given to artists who have contributed in the Asian region.

Besides, the second season of Girl From Nowhere, a Netflix original series made in Thailand won the best Asian TV series award. The best OTT original title went to The Long Night, produced by iQiyi from China.

Chinese actress Song Jia in A Little Dilemma won the best actress award, while Japanese actor Morisaki Win was awarded the best newcomer award for her performance in The Real Thing.

Open Talk sessions held at the event covered Netflix series Hellbound and My Name, which are both part of the festival’s new On-Screen sidebar.

Netflix’s Attempt to Boost Asian Subscriber Growth

Netflix is keen on local language series and film programming, which have been gaining immense popularity both locally and on a global scale. The company had previously disclosed that it ended 2020 with 3.8 million subscribers in Korea.

The streaming giant recently rolled out the official merchandise for Squid Game on its owned-and-operated online retail outlet, Netflix.shop, to capitalize on the unexpected success of the South Korean survival thriller.

Netflix revealed the first looks of new Korean shows like The Hungry and the Hairy, The Silent Sea (sci-fi mystery thriller starring Bae Doona and Gong Yoo), and Single’s Inferno at the global fan event, Tudum held in September.

In 2022, legal drama Juvenile Justice with Korean star Kim Hye-soo in the lead and zombie horror series All Of Us Are Dead will be released in January. Romance drama Love and Leashes will be released in February.

The popularity of Japanese dramas is also on the rise, thanks to recent hits like Alice in Borderland, which topped Netflix charts and has already signed up for a second season.

About 5 million Japanese households subscribed to Netflix in the second quarter, and they're about to get a lot more anime content in the rest of 2021.

This company plans to release 40 new anime titles this year, double the number it released last year, in an attempt to compete with rival Japanese streaming platforms like Crunchyroll and Funimation, both of which have fewer subscribers but a far more fervent anime fan base.

Netflix’s large investments in Asian originals come at a time when Asia — and Japan in particular — are becoming increasingly important to the streamer’s growth prospects as new sign-ups in North America and Western Europe have decelerated due to stiff competition from the likes of Disney’s (DIS - Free Report) Disney+, Apple’s (AAPL - Free Report) Apple TV+ and Comcast’s (CMCSA - Free Report) Peacock among others.

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