2021 Content Industry Through 8 Key Keywords... Kocca YouTube Seminar

[Asia Economy Reporter Kim Heung-soon] The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency (KOCCA) released the presentation video and materials of the '2020 Content Industry Review and 2021 Outlook Seminar' on the KOCCA YouTube channel on the 17th. Through this seminar, eight key keywords forecasting next year were also announced.

The Virtual World Merged with Reality, Diverse Expansion and Connection of the Content Industry

The first keyword ▲Coming Soon, Metaverse (3D Virtual World) explains the popularization of entertainment and communication culture within platforms where virtual and reality coexist. The second keyword ▲No End to Intellectual Property (IP) refers to the diversification of content IP expansion methods different from before, and the third keyword ▲Same Dream? Different Dream!: Alliances and Mergers focuses on various collaboration strategies in the content industry amid fierce competition without boundaries.

Choosing Content with Higher Standards in a New Consumption Environment! Users Who Leave Anytime

The fourth keyword ▲Evolving Cocoon focuses on the phenomenon of enjoying content more comfortably and on a larger scale at home or in the car in a content environment where non-face-to-face and face-to-face coexist. The fifth keyword ▲If Values Don’t Match, Subscription Cancellation (Gabulguchi) analyzes the phenomenon of strengthened self-expression through content by meticulous and discerning content users' selection criteria.

'Content People, Survive the Digital Transformation by Artificial Intelligence (AI), Data, and Networks and the Paradigm Shift Caused by COVID-19'

The sixth keyword ▲Those Who Dominate Future Content 'DNA Match Rate 99%' suggests the importance of infrastructure such as data, networks, and AI related to the digital new deal in the content field and the resulting changes. The seventh keyword ▲Surviving as 'Content People' in the COVID-19 Era forecasts that changes in employment and labor environments in the content field, such as remote and telecommuting, will be strengthened due to COVID-19, and efforts for improvement will follow. Lastly, the eighth keyword ▲Hallyu, Overcome Another 1-Inch Barrier anticipates intensified discussions for sustainable Hallyu focusing on new regions and distribution methods.

Experts’ Forecast for the Content Industry in 2021

In the panel discussion of the materials released that day, experts from various fields of the content industry discussed the content industry in 2021. Moderated by Professor Choi Se-jung of Korea University, panelists included Kang Min-hyuk, Head of Nexon; Kim Dae-wook, CEO of Naver Z; Lee Hee-joo, Director of Content Wave; Yoo Soon-ho, Manager at FNC Entertainment; Choo Dae-ho, Director at Ace Story; and Hong Min-ji, PD at SBS Digital News Lab. The discussants shared various response strategies and plans for next year amid the crisis caused by COVID-19.

CEO Kim Dae-wook introduced the 3D avatar social platform 'Zepeto,' which surpassed 180 million global subscribers, and predicted, "The growth of the metaverse, where anything I imagine can be realized, will continue." Director Choo Dae-ho said, "We will seek various collaborations with online video services (OTT) to make K-dramas more loved in the global market."

At the seminar, the 2020 industry statistical forecasts and the 2020 content industry review analysis were also disclosed. The five major review keywords were ▲Content Industry’s Strategic Shift Overcoming Crisis as Opportunity ▲World Best K-Content That Enthralled the World ▲Wellness Content Healing and Comforting COVID Blues ▲Reinterpretation of Long-Lasting Content IP ▲Digital New Deal in the Content Field Preparing for the Post-COVID Era.

The seminar video can be viewed on the official KOCCA YouTube channel, and the presentation materials can be downloaded from the KOCCA website.

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