Little Big CEO "Doubtful about Overseas Package Sales of 'Time to Hunt'... Haven't Seen the Contract" [Exclusive Interview]

[Reporter Lee Isul]

The film Time to Hunt (director Yoon Sung-hyun), which postponed its release due to the spread of COVID-19 (novel coronavirus infection), has chosen to go to Netflix instead of theaters, leading to a sharp conflict with its overseas sales agency.

On the 23rd, the overseas sales agency Content Panda stated that since January 24, 2019, it has had an overseas sales contract with the investment and distribution company Little Big Pictures and has been carrying out its duties accordingly. However, on this day, they confirmed through news reports that Time to Hunt was sold to Netflix and hinted at legal action.

Little Big Pictures revealed that the Netflix sale was a matter critical to the company's survival and that they had conducted thorough discussions and long deliberations. CEO Kwon Ji-won responded to this publication regarding the official statement released by Content Panda on the same day, offering rebuttals or explanations.

▲ Was the Netflix sale of Time to Hunt conducted secretly?

"Content Panda is both the overseas sales agency and an investor for Time to Hunt. However, Little Big Pictures requested contract termination for the full sale to Netflix through a verbal notice in early March without sufficient discussion with us, and conveyed their intention to terminate the overseas sales contract via official letter in mid-March. During this process, Content Panda proposed alternative measures and clearly stated that unilateral contract termination was impossible since overseas sales had already been completed." (Content Panda)

"We sent emails to Content Panda and visited them several times. Content Panda even called Netflix. We asked for help, saying it would be difficult to release the film amid the pandemic, but they refused. We don’t understand the reason. Usually, overseas sales are often done as package deals, so we question whether Time to Hunt was sold in a package format. We have not yet seen the (overseas sales) contract. If that is the case, we never agreed to it. If Content Panda continues to be uncooperative, we will have to check the contract." (Little Big Pictures)

▲ Is this behavior damaging the trust in Korean films?

"Little Big Pictures excluded Content Panda when informing investors about plans to sign global contracts with global OTT companies. On March 23, we confirmed the double contract news through a press release announcing the worldwide streaming release of Time to Hunt on Netflix. Despite having directly confirmed with overseas film companies preparing for theatrical releases that they had no intention of revoking existing contracts, Little Big Pictures pushed forward with the Netflix contract, as confirmed by news reports. Due to such unilateral actions, we are not only suffering financial losses but are also at risk of losing the reputation and trust we have built in the overseas film market. This cannot simply be calculated in monetary terms; it is an act that harms not only our company but also the trust in Korean cinema itself." (Content Panda)

"Isn't forcing a release the behavior that loses trust? Theaters worldwide are closing due to COVID-19. Isn't the point to maintain transactional relationships by exchanging good films? If we talk about trust, why don’t they consider the trust with us? I want to ask why they don’t consider the relationship as an agency." (Little Big Pictures)

▲ Was there insufficient prior discussion about the release?

"We empathize with the difficulties the global film industry is facing due to the worldwide spread of COVID-19. It would have been possible to conduct prior discussions, such as distinguishing between countries where theatrical releases were already sold and those for streaming, or working together to find the best release timing worldwide. This matter is a serious issue that ignores the legitimate rights secured by us and overseas film companies and could lead to international disputes. It also sets a dangerous precedent that threatens the survival of domestic overseas sales companies that operate based on legitimate contracts, including us." (Content Panda)

"It’s not that we didn’t seek alternatives. As of February 26, most of the P&A (Prints & Advertising) budget had been spent. We fully explained this situation to Content Panda. We asked in advance whether Content Panda could take responsibility for the fact that if the release was delayed, more than 1.3 billion won would have to be spent again on marketing." (Little Big Pictures)

▲ Legal action over double contracts?

"Double contracting is an act that disregards contracts and legitimate rights made based on trust with overseas film companies and makes film companies worldwide victims. It is a dangerous act that can damage the trust in Korean films in the international film industry. Therefore, Content Panda will take legal action against Little Big Pictures to minimize international damage." (Content Panda)

"We do not agree with the claim of double contracting. If they continue to raise issues, we will respond independently." (Little Big Pictures)

Meanwhile, Time to Hunt was originally scheduled to be released on February 26 but was postponed to March due to the spread of COVID-19. On this day, Netflix and distributor Little Big Pictures announced that the film is scheduled to be released on Netflix in over 190 countries with subtitles in 29 languages on April 10.

This content was produced with the assistance of AI translation services.