‘Weak Hero’ becomes latest series to cross over to Netflix as domestic platforms lose hold

Korea’s action drama “Weak Hero” (2022-) is set to reach a global audience with Netflix giving the hit series a worldwide platform for its second season after its first airing on Korea’s Wavve.

Korean content that originally debuted on domestic broadcasters or streaming services is increasingly finding new life on international platforms like Netflix, backed by fresh investment and access to a global audience.

Still, it raises important questions for the Korean content industry: Are domestic platforms becoming mere gateways to global success and simply supplying valuable content to international players? And what does the future hold for Korea’s homegrown streaming services and broadcasters?

New life on Netflix

The new season of “Weak Hero,” also known as “Weak Hero Class 2,” is slated to be released on Friday, continuing the story of protagonist Yeon Si-eun, portrayed by Park Ji-hoon, as he starts a new chapter at a different school while grappling with his traumatic past.

Directed by You Su-min, who returns to the helm for the upcoming season, “Weak Hero” kicked off its journey on Wavve in November 2022 under the title “Weak Hero Class 1.”

Initially overlooked due to its cast of relatively new actors like Park, Choi Hyun-wook, Hong Kyung and Ryeo Un, the series gradually gained recognition through word-of-mouth, boosting Wavve’s paid subscriptions.

It had also reached a global audience through various overseas platforms such as iQIYI, Kocowa and Rakuten Viki. However, the level of response was noticeably different when the first season was uploaded to Netflix on March 25, seemingly a strategic move ahead of the release of the series’ second season.

Despite three years having passed since its initial premiere, the series experienced a surprising global resurgence in popularity, peaking at No. 2 on the streaming platform’s global top 10 non-English shows — something even the director did not anticipate.

“It still feels surreal that season one is receiving love again,” the director said during a press conference for the second season held on Monday, when asked about the renewed attention on the first season.

As seen through its global response, the show had clear potential. However, Wavve’s financial struggles eventually led to its move to Netflix. The domestic company has been recording operating losses since 2022, when the company reached a 121.7 billion won ($85.57 million) deficit, according to local reports. Although Wavve has managed to reduce its losses each year, it has failed to fully turn the situation around.

Despite efforts to improve, the company’s net losses actually increased to 149.3 billion won last year, up 25 percent compared to the previous year.

Similar to “Weak Hero,” several Korean content creators have transitioned over to Netflix, either under the same titles or with slight rebranding, giving their works new life and expanding their potential beyond Korea to a global audience.

For example, KBS’s variety show “Beat Coin” (2022-24) aired its final episode in January last year, ending its two-year run. However, it was revived under a new name on Netflix as “Screwballs,” featuring almost the same cast and crew.

Its performance showed a stark contrast between its airing on KBS and its Netflix release. While the show received an average viewership rating in the 1 percent range on the local broadcaster, its Netflix renewal soared to No. 1 on the platform’s series list in Korea, just two days after its release on Feb. 23.

Hit variety series “Crime Scene” (2014-) is also slated to shift to Netflix under the title “Crime Scene Zero.” The show originally aired on JTBC for three seasons, with its latest season having been released on Tving last year. The release date for the Netflix reboot has not yet been disclosed.

Netflix seems to have become a major draw for creators and actors, as the cast of “Weak Hero Class 2” expressed gratitude and excitement to meet new viewers outside of Korea.

“I’m so happy that more people can see this series, and grow together with my character and the friends around him,” actor Park said during the press conference.

A different story

Netflix’s role in picking up potentially successful Korean content may be a boon for the creators, but it also highlights the gruelling reality of domestic streaming platforms.

While global streaming giants like Netflix and Disney+ are thriving, domestic ones, including Wavve, Tving and Coupang Play, are struggling to stay afloat, cutting back on investment in new content.

The supply of original content from domestic platforms decreased in 2023 — Tving went from 24 titles in 2022 to 19 in 2023, and Wavve dropped from nine to five — while the number of projects from global providers increased. Netflix, for instance, grew from 21 to 30 titles, and Disney+ expanded from 10 to 17, according to a Korea Communications Commission (KCC) report released on March 26.

However, there was a slight overall decline in Korean production from some providers in 2024, with Tving and Disney+ each dropping to 11 titles and Netflix remaining steady at 30.

The KCC also warned of Netflix’s growing dominance, stating, “As Netflix’s share of production demand expands, there is a risk that its influence could become overly dominant, potentially harming the broader content production ecosystem. It will be important to strengthen market monitoring and improve systems for collecting and analyzing relevant data.”

Unity could be the answer

Now, domestic streaming platforms are making desperate efforts to regain their lost audience against global platforms. One such effort is the possible merger of Wavve and Tving, the top two domestic streaming platforms.

Experts suggest that scaling up could be a way for domestic platforms to break through their current ceiling.

“Right now, with so many fragmented players in the market, it’s hard to compete at scale,” pop culture critic Ha Jae-geun said. “So, in order to better compete with Netflix, companies may need to come together and build a larger, unified streaming platform, making them relatively more competitive in the domestic market.”

On the other hand, some experts are forecasting a bleak future, saying that “it is too late” and that local platforms should “acknowledge the fact that they are at a disadvantage” with a limited audience.

Pop culture critic Kim Hern-sik noted that domestic platforms initially took the wrong approach by viewing global giants like Netflix and Disney+ as “too much of a competitor” instead of seeking ways to collaborate with them.

In line with this, critics say that domestic platforms should shift their perspective while making content, as many local streaming and broadcasting services have ventured into relatively niche subjects in an attempt to follow Netflix, which offers a wide range of niche genres, from thrillers to creature projects.

While the attempt gained some traction, most ended in failure, proving to be unsuitable for domestic streaming platforms and broadcasters — as noted by Kim.

One way for broadcasters and domestic streaming services to make a comeback is to shift away from merely following Netflix and Disney+ and change their original business models.

Kim noted that making “cost-efficient” productions, sticking to what they do best — creating “Korean” content — and targeting non-English-speaking audiences, especially in Asia, who share similar sentiments, may carve out a new path for Korean platforms and win back their lost domestic viewers.

“For example, focusing on cost-effectiveness or prioritizing the break-even point, as an economist, would have been a more realistic approach. After all, in the end, it comes down to money,” Kim said. “Also, another positive trait of this approach is that there is a better chance of discovering talented directors or writers.”

BY KIM JI-YE [kim.jiye@joongang.co.kr]