TV series industry makes all-out effort to break the recession...Preview released overseas by changing platform

The TV series market is undergoing various changes after going through a recession. We will produce a new season, but there are also many cases such as signing contracts with other platforms, previewing Korean domestic TV series released overseas, etc.
We are currently trying to find ways to overcome the crisis. Mr. A, a production company official, said, ``Currently, in the TV series industry, there are dozens of works that cannot be assembled,'' and ``Even if they are filmed, they cannot be released.
There are a lot of TV series, but we don't know when they will be aired, so we are each doing our own thing.'' [Wavve contributions also go to Netflix]
“Weak Hero,” a contribution from South Korean OTT (online video service) Wavve, will be available for a season on Netflix.
Produce 2. ``Weak Hero'' is about Yeon Si-eun (played by Park Ji Hoon), a model student in the top 1%, and his first friends Suho (played by Choi Hyung-wook) and Beom-seok (played by Hong Kyung).
This is an action growth TV series that depicts the process of confronting violence. Best O at the 2023 Asian Content Awards & Global OTT Awards at Viral, which deals with violence inside and outside of schools in a three-dimensional manner.
It received favorable reviews, including being awarded the TT Original Award. It was a hit and the work was well received, and there was a lot of interest in producing a second season. However, the discussion with Wavve has been prolonged, causing friction in the production of season 2.
was born. Wavve recorded an operating loss of 121.7 billion won (approximately 12 billion yen) in 2022, and has concentrated on variety shows and current affairs education departments rather than TV series and movies, which have large production costs.
. In addition, the company is preparing to merge with TVING, and the production of Season 2, which requires large amounts of capital, is a burden. In the end, season 2 of the TV series "Weak Hero" was released by Netflix, which has large capital resources, and control.
I decided to make one. From Wavve's standpoint, it wasn't easy to let go of IP (intellectual property rights) that was guaranteed to be a hit, but it seems they took a step back and made this decision for the sake of the work.
[There are also cases of previews being released overseas because production could not be organized in Korea] As the reduction in production of Wavve shows, the current situation in the domestic TV series production market in Korea is not good. Grow with huge capital power
It took a while for Bar OTT to establish itself in Korea and see the light of the K-content craze, but it had the side effect of rapidly increasing production costs. The public's interest in TV programs has also declined, and the focus is on broadcasting stations.
Advertising costs that were previously used have been dispersed to online and other areas, and related industries continue to face difficulties. Production costs will increase, but other revenues will not catch up, and each platform broadcast station will have to reduce TV series production and programming.
are doing. Because of this, TV series that had already been pre-produced during the boom period for TV series were left with nowhere to go. According to the Korean TV Series Production Companies Association, works released through OTT and broadcasting stations in 2022
There were 141 articles, but it is estimated that the number will remain at 123 in 2023 and 100 to 110 in 2024. Fewer and fewer works are being organized.
In such situations, overseas released previews are used as a self-help measure. TV series produced by HB Entertainment “My Man is Cupid”
'D' is a romance TV series that tells the story of a fairy who falls in love with a fairy who was hit by Cupid's arrow, and a woman who gets entangled in that love.
AfterSchool) appeared on the show and was highly anticipated. Unable to receive programming in Korea, the preview was released on December 1st last year through Amazon Primevideo, but 3 months have passed.
As of now, the lineup in South Korea has not yet been decided. The industry says that this is also a case of good fortune. Mr. A mentioned earlier said, ``Local OTT is also based on domestically produced works.
"We are trying to sign a contract," he said, adding, "If the work has been verified, we can sign a contract." The source said, ``For this reason, recently broadcast stations are organizing TV series for free without receiving production costs.''
Then some production companies come out,'' he said, conveying the serious situation in the industry. Currently, the Korean TV Series Production Association is aware of 27 unorganized TV series. Even if the TV Series market situation improves,
There is no guarantee that the llamas will be organized. There is also the problem that, now that time has passed since the production, it is out of step with broadcasting trends.
Mr. B, an official at the production company, said, ``Everyone is worried about the lineup, but we have a solid substitute.''
"There is no plan," he said, adding, "Movies can be released over time, but TV series have limited broadcasting stations and platforms, so it is impossible to release them in the future. Even if they are released through OTT,
We cannot avoid a deficit at the 'warehouse processing' level." Mr. C of the production company said, ``The problem is that the TV series market has become difficult, but the problem is that they saw the K-content craze and produced works without discretion.''
He said, ``While it is important for the market to stabilize, this lesson taught me that I need to be careful when producing from now on.''