Apple Wants to Win Netflix...The reason why the production cost of Pachinko was 100 billion won.

 Apple TV+ released its original drama "Pachinko" on March 25th. Pachinko is a bestseller selected by the New York Times and is based on a novel of the same name by Korean-American writer Lee Min-jin. It is a drama set from the 1910s to the 1980s that depicts the lives and dreams of four generations of Korean immigrant families who have left their home countries and are stubbornly seeking survival and prosperity.

Since its release, the drama "Pachinko" has been well received not only in Korea but also abroad. On the U.S. critique site Rotten Tomatoes, the freshness index (media critics' rating) was 100 percent and the popcorn index (audience rating) was 92 percent.

In fact, Apple TV+ is not a popular online video service (OTT) for us. It has been struggling in Korea since it was released on November 4th last year. They said they would release content that puts quality before quantity, but buyers who do not spare opening their wallets to Apple such as MacBooks, iPads, and iPhones did not subscribe to Apple TV+. Contrary to Apple's reputation, the Apple TV+ was considered only a free service that offered a license to buy Apple devices.

Mark Randolph, co-founder of Netflix, even criticized in an interview with Finance, saying, "As Apple TV+ is using it for promotions even for a single quarter, we could have competed with Netflix if we paid attention to the content." At a moment when Apple TV+ seemed to wither like this, it released Pachinko, which invested 100 billion won. Why does Apple want to invest so much money in its already red ocean OTT business? And will we be successful in OTT business?