Korean Distributors Learn to Downsize in Saturated Market

Korean Distributors Learn to Downsize in Saturated Market
In 2018, the Korean film business stumbled, as local films made with blockbuster budgets and targeting the usual high seasons of Chuseok and Christmas last year failed to deliver blockbuster earnings. So Korean distributors have embraced some tactics to enhance their bottom lines.

Genre films “Monstrum,” “Fengshui,” “The Negotiation,” “Take Point,” “Swing Kids” and “Drug King” tripped over each other and did healthy B.O. but not the blockbuster business that distributors anticipated.

“The South Korean market has been supersaturated and the market has reached its limit. It is pretty obvious that no one would make significant profit when there are four to five films to watch in one season,” one disappointed producer told Variety.

Now, key distributors have announced lineups filled with fewer blockbusters and more small to mid-sized titles. At the same time they are accelerating overseas expansion and diversifying content formats.

Two of Cj Entertainment’s 2019 tentpoles, Bong
See full article at Variety - Film News »

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