Online Screening Room Integrated Network to Begin Pilot Operation on the 30th of Next Month

Yeongjinwi Signs MOU with KT, SK Broadband, LG Uplus, and Homechoice

A new chapter opens in the online film distribution market. On the 5th, the Korean Film Council signed a 'Business Agreement for the Activation of the Integrated Online Screening Network for Digital Film Online Market' with KT, SK Broadband, LG Uplus, and Homechoice. Going forward, platform operators will electronically provide film statistical data to the Integrated Online Screening Network operated by the Korean Film Council. They will also participate in various projects to revitalize online film distribution.

The Integrated Online Screening Network, which will be piloted on the 30th of next month, is a system that aggregates and provides statistics and related information about the digital online film market. It separates online film information from the existing Integrated Cinema Ticketing Network to operate as a more specialized statistical site. The Korean Film Council commented, "Given that the total revenue of the film industry has decreased by more than half compared to the previous year, it is significant that each company voluntarily promised cooperation to overcome the crisis and promote the sustainable development of Korean films." A platform representative explained, "After COVID-19, we are entering a new normal era where theaters and online platforms grow together. This agreement is the first step to respond to such changes."

The TV VOD market size of IPTV and digital cable TV is 336.8 billion KRW (as of last year), accounting for 75% of the digital online film market revenue. This agreement can lead to securing transparency in market data, which may serve as an opportunity to expand investment. A Korean Film Council official stated, "The online film market has grown so much that it can no longer be called a secondary market," adding, "With the operation of the Integrated Online Screening Network, we expect to provide new indicators for online film success as well as secure credible data for film planning and investment." They continued, "To enhance the system, we plan to gather opinions from all sectors of the film industry," and "In the future, we will collaborate with domestic and international online video services (OTT) to provide comprehensive film information about the digital online film market."

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