Will a Korean DC Hero Follow Superman and Wonder Woman?

Warner Bros. Reenters Korean Market with HBO Max Following Exit from Korean Film
Schwebig, Head of Korea & Southeast Asia, Mentions Localization of Existing Franchises at BCWW

Warner Bros. Korea withdrew from the Korean film business last year. The cause was the theater slump due to COVID-19 and continuous box office failures. Films such as 'VIP (2017)', 'Illang: The Wolf Brigade (2018)', 'The King's Letters: The Rumor Manipulators (2019)', 'The Bad Guys: Reign of Chaos (2019)', and 'The Battleship Island (2019)', which involved considerable production costs, failed to meet expectations. They will cease distribution after the release of 'Killing Romance' scheduled for this year. This does not mean giving up on Korean films. Rather, they are planning a bigger picture: producing original content led by the online video service (OTT) HBO Max.

HBO Max emerged as WarnerMedia's core business earlier this year. It integrates Warner Bros. movies and TV, as well as HBO (dramas), CNN (news), and others, to develop a business model that competes with Netflix and Disney+. Warner Bros. films are supplied exclusively without theatrical release for about ten titles. Overseas business is also aggressive. Beyond streaming services, they broadly deliver franchise works and develop various derivative products to expand touchpoints with viewers.

The specific plan was glimpsed at the Korea Creative Content Agency's International Broadcasting & Video Market 2021 (BCWW 2021), held from the 6th to the 10th. Clement Schwebig, WarnerMedia's head of Korea, Southeast Asia, and India, appeared as the keynote speaker to discuss the future and strategy of the content industry. He said, "We want to communicate with consumers through movies, dramas, theme parks, games, and provide a complete experience." "Continuous consumer engagement is the measure of success. It can be seen in the number of moviegoers, theme park visitors, and game users. To attract more, above all, good works and intellectual property (IP) must be effectively delivered."

Schwebig mentioned two main methods. The first is localization of existing franchises. WarnerMedia owns various works and IPs, including DC superheroes like Superman and Wonder Woman, as well as Harry Potter, Looney Tunes, Game of Thrones, and Friends. Schwebig said, "We need to diversify content delivery methods and organize local events to approach consumers." Recently in Korea, the HBO Max original 'Friends: The Reunion' was released through CJ ENM channels and Wavve. 'Zack Snyder's Justice League,' released on HBO Max in the U.S. last March, was also supplied to various platforms such as Wavve and Naver Series On. Schwebig noted, "The animation 'We Bare Bears' was very popular in Korea, and related products sold like hotcakes," adding, "We are preparing more series and merchandise."

The second is local content production. WarnerMedia already introduces content produced in Asia to the U.S. through HBO Max. Schwebig said, "Recently, many HBO Asia original series have been produced in Southeast Asia," and "Various projects are underway in Korea, India, Singapore, and Taiwan." A representative example is the K-pop idol audition conducted with CJ ENM in South America. They plan to accelerate content development necessary for settling in Korea through continuous collaboration. Schwebig said, "We maintain the partnership signed with JTBC in 2011 and are working jointly in various fields."

The OTT market's success depends on the competitiveness of original content. HBO Max is making various investments to overcome the disadvantage of being a latecomer in Korea. Schwebig said, "We will focus production and investment on content that local viewers want to see," introducing the Philippine film 'On the Job: The Missing 8,' which recently entered the competition section of the Venice International Film Festival, as a representative success case. He also hinted, "We are reviewing ways to localize global franchise works in Korea." "Warner Bros. and HBO works are the targets. Although not yet finalized, franchise localization is a global trend. We will do our best to gain the sympathy of Korean consumers."

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