Deals fell through.
Koreaboo
2 hours ago
Netflix reportedly failed to secure sponsorships for BTS’s comeback concert, which was livestreamed to 190 countries worldwide.
According to the performance industry on March 24, Netflix had been in talks with multiple major domestic and international corporations ahead of BTS’s Gwanghwamun comeback live event, BTS Comeback Live: Arirang.
“Netflix discussed sponsorship with a Korean national airline, but the deal ultimately fell through at the final stage, but it couldn’t be finalized during the decision-making process.”
In addition to the airline, Netflix also approached a global credit card company and a world-renowned internet search company, but those discussions likewise did not materialize. The proposed sponsorship amounts reportedly reached hundreds of billions of won.
While Netflix typically does not attach advertisements or sponsorships to its original content, there have been exceptions. For example, the globally successful Squid Game 2 previously partnered with Kia for marketing. Netflix invested heavily in the BTS live event, reportedly covering production costs worth hundreds of billions of KRW while guaranteeing intellectual property (IP) rights to HYBE. A Netflix representative confirmed it.
“It is true that we held discussions with domestic and international companies regarding the BTS performance, but it is difficult to disclose detailed contract information.”
Meanwhile, although the livestream drew millions in viewers worldwide, reaffirming BTS’s global star power, it fell short of initial market expectations, which had anticipated tens of millions of viewers.