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Netflix (NFLX) Unveils Trailer of South Korean Series Hierarchy

Netflix NFLX recently released the trailer of Hierarchy. The trailer starts with a chilling declaration, "I killed someone." This sets the tone for a series steeped in mystery and scandal. As the death of a student becomes public knowledge, the tension at Jooshin High School escalates, revealing hidden secrets and unraveling the school's intricate social web.

Jooshin High School, a place known for concealed motives, is ruled by the powerful duo of Jung Jae-i (Roh Jeong-eui) and her boyfriend, Kim Ri-an (Kim Jae-won). Their dominance is unchallenged until Kang Ha (Lee Chae-min), a scholarship student with a vendetta, arrives. His quest for revenge starts to disturb the elite's carefully maintained relationships. Yoon He-ra (Chi Hae-won) and Lee Woo-jin (Lee Won-jeong) complete the circle of influential students who govern the school.

The trailer captures a clash between Ri-an and Kang Ha, alongside a disruption in the social order when Jae-i decides to break up with Ri-an. The series is set to premiere on Jun 7 and promises to be a thrilling exploration of justice and social upheaval.

Shares of this Zacks Rank #1 (Strong Buy) company have gained 32.8% year to date against the Zacks Consumer Discretionary sector’s 3.1% decline. The outperformance can be attributed to the success of its content. You can see the complete list of today’s Zacks #1 Rank stocks here.

Netflix, Inc. Price and Consensus

Netflix, Inc. Price and Consensus
Netflix, Inc. Price and Consensus

Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote

NFLX Faces Competition in South Korea’s Video-on-Demand Market

Netflix faces stiff competition in South Korea’s video-on-demand market, which is expected to reach $3.237 billion by 2027 from $2.617 billion in 2024, witnessing a CAGR of 7.34%, per a report from Statista. This rapid growth is due to a surge in local content production and a high demand for Korean dramas worldwide.

Some other notable players in South Korea’s video-on-demand market are Fox’s FOXA Tubi, Wavve, Disney DIS and Alphabet’s GOOGL YouTube.

Tubi offers around 200 free Korean titles, ranging from the late '90s to 2023, under its K-Drama Plus category. Users can find subtitled and a few English-dubbed movies and TV series. Users are required to register for an account to create a personal watch list. Tubi is available on all major streaming devices, including gaming consoles and smart TVs.

Launched in September 2019 by three Korean terrestrial broadcasting companies (KBS, MBC, and SBS), the OTT service provider, Wavve, is one of South Korea's leading video streaming platforms. Committed to expanding its original content strategy, Wavve plans to invest $900 million over the next four years in order to develop new content.

LG Uplus has formed an exclusive partnership with Disney to become the official Korean partner for Disney Plus in South Korea. The streaming service will feature a diverse array of content, including Marvel Entertainment, Pixar and National Geographic, as well as produce original Korean content. Additionally, Disney Plus has partnered with Studio & New to provide Korean content until 2025. DIS has exciting projects in the pipeline, including Light Shop, Uncle Samsik and Gangnam B-Side.

Alphabet’s YouTube Red was an ad-free subscription service, which was launched in 2016 and offered exclusive content and features like background play. It later became YouTube Premium. The platform now provides an ad-free experience, background play and downloads across its vast video library.

Netflix is South Korea's leading video streaming platform, which is known for popular dramas like Kingdom and Love Alarm. Upcoming Korean content from NFLX includes titles like You Have Done Well, Hong Rang and Agents of Mystery. These are expected to boost the company’s APAC revenues in the upcoming quarters.

The Zacks Consensus Estimate for NFLX's 2024 APAC revenues is pegged at $4.24 billion, indicating 12.8% year-over-year growth. The consensus mark for earnings is pegged at $18.31 per share, suggesting 52.2% year-over-year growth.

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