Benzinga - by Chris Katje, Benzinga Staff Writer.
Streaming giant Netflix Inc (NASDAQ:NFLX) has bought the international rights to a Chinese series, marking its continued focus on content coming out of Asia.
What Happened: The success of "Squid Game," "One Piece" and other Asian series for Netflix has led to the streaming company focusing on the region as it looks to grow its international subscriber base.
While Netflix isn't available in China, the company made a rare pre-buy at the Shanghai TV Festival.
Netflix landed the international rights to the series "See Her Again," which comes from Tencent Video, a unit of Tencent Holdings Limited (OTC:TCEHY).
According to Deadline, this marks a rare move by Netflix, which does not often pre-buy shows from China.
The series follows a Hong Kong police detective from the 1990s who travels to 2018 to uncover past murder cases.
"See Her Again" competed for the Coup de Coeur Award at MIPTV's MIPDrama Screenings in April according to the report.
Related Link: Netflix Q1 Earnings Highlights: Revenue Beat, EPS Beat, 9.33 Million Paid Subs Added, Ad-Tier Plan Update And More
Why It's Important: Netflix has been investing more aggressively in Asia after the success of "Squid Game," which is the company's most watched series of all time.
Benzinga previously reported that Netflix was turning its attention to Indonesia and Thailand with new investments targeting the large, young demographic from the countries. Netflix has also been investing in South Korea, after the success of "Squid Game" from the region.
Netflix released the highly anticipated "3 Body Problem" series earlier this year, which is based on a bestselling Chinese novel.
The streaming giant’s acquisition of international rights to a buzzworthy Chinese series is noteworthy, as it could attract strong viewership in Asian countries. Its success with American viewers will also be closely monitored.
NFLX Price Action: Netflix shares are down 2% to $669.38 on Monday versus a 52-week trading range of $344.73 to $689.88.
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