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Netflix monthly users dip in S. Korea due to competition

Netflix faces increasing competition from local players in South Korea.

Netflix's monthly active South Korean users, who interact with an app at least once a month, dipped 1.9 percent to 8.08 million in April from 8.24 million in March, as the platform faces increasing competition from local players.

There were nearly 9 million monthly active users in January.

Netflix's paid memberships in South Korea reached 3.8 million as of the end of last year.

Last February, Netflix Inc. announced plans to invest $500 million this year in creating original movies and TV shows in South Korea.

South Korea is Netflix’s third-largest Asian market by sales, trailing only Australia and Japan, according to consultancy Media Partners Asia.

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