'Time to Hunt' Returns to Netflix... "Release Date Announcement Soon" (Comprehensive)

Little Big Pictures and Contents Panda Reach Agreement... Securing Foundation for Netflix Distribution

[Asia Economy Reporter Lee Jong-gil] The film Time to Hunt will be released worldwide on Netflix as scheduled. The conflict between the distributor Little Big Pictures and the overseas rights distributor Contents Panda was amicably resolved on the afternoon of the 16th.

Little Big Pictures announced the agreement with Contents Panda on the same day, stating, "We feel sorry and responsible for the confusion and disorder during the distribution process." They also expressed sincere gratitude to Contents Panda for "considering the Korean film industry by swiftly and reasonably negotiating with individual buyers and reaching an amicable agreement at minimal cost."

The film was originally scheduled to be screened domestically on February 26. However, its release was indefinitely postponed due to the spread of the novel coronavirus disease (COVID-19). Concerned about additional burdens such as promotion and marketing costs, Little Big Pictures became the first Korean film to transfer all rights to Netflix. However, Time to Hunt had already sold rights to about 30 countries. Contents Panda, which signed an overseas sales contract with Little Big Pictures on January 24 of last year, had achieved this result after more than a year of work. Although Little Big Pictures was aware of the contract, it transferred all rights to Netflix and requested Contents Panda to terminate the contract in early March.

Contents Panda pointed out the "double contract" and took legal action. On the 8th, the Seoul Central District Court accepted a provisional injunction to ban overseas screenings and an application to invalidate the contract termination, nullifying the termination between Little Big Pictures and Contents Panda. Contents Panda thus regained the rights to sell the overseas rights of Time to Hunt. Accordingly, Little Big Pictures was unable to release Time to Hunt worldwide except in Korea. If violated, they would have to pay Contents Panda 20 million KRW daily. Consequently, Netflix postponed the release of Time to Hunt and all related events.

Little Big Pictures acknowledged that it unilaterally notified the contract termination, disregarding Contents Panda’s significant contribution to overseas sales through reckless progress. They stated, "We respect the court’s ruling" and apologized to Contents Panda employees for "damaging the corporate value of Contents Panda and its parent company NEW by mentioning unverified facts through press releases and interviews."

In response, Contents Panda said, "We completed renegotiations with overseas buyers to the best of our ability and withdrew the provisional injunction against screening." They expressed gratitude to the film companies in about 30 countries that cooperated for a smooth agreement and said, "We will continue to do our best to uphold common sense in contractual relationships and maintain the trust in Korean films within the international film industry."

Contents Panda took legal action in this conflict because similar issues frequently occur in the film industry. The company explained, "We did our best to prevent unfair cases that may arise in the film industry and to maintain trust in Korean films in the international film industry." They emphasized, "During the agreement process, we prioritized preventing international disputes and informing the overseas market that the Korean film industry respects legal and common-sense procedures over seeking appropriate compensation."

With the conflict resolved, Time to Hunt will be streamed on Netflix as planned. A Netflix representative said, "We are pleased to hear the news of the agreement" and "will soon announce the release date so that fans worldwide can enjoy the work." They added, "We will prepare various events in consultation with the director and actors."

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