Two Years of Theater and OTT Upheaval... What About 'Jigeum Uri Contents'?

Pandemic Content Market Changes
Overseas OTT Settles, Active Production of Korean Series
'Ojingeo Game' and 'Jiuhak' Attract Global Attention
Race for No.1 in Release Week, Quality Down, Intensity Up
"K-Content Trust Likely to Decline"

Photo by Netflix (hereinafter)

[Asia Economy Reporter Lee Isul] COVID-19 has changed our daily lives. As the time spent at home increased, content consumption also became very active. It has been two years since the focus shifted from theaters to online video services (OTT). Where does K-content stand now?

In 2019, director Bong Joon-ho's "Parasite" made history again in 100 years of Korean cinema by winning the top awards at the Cannes Film Festival and the Academy Awards (Oscars). Just as Mexican films did, now no one is unaware that K-movies are excellent. The global success invigorated Chungmuro (the Korean film industry). With natural interest, domestic and international collaborations were actively discussed. Not only actors but also production companies prepared to grow in scale.

In January 2020, the situation changed. The sudden outbreak of COVID-19 brought the world to a halt. People wore masks against the fierce virus and kept their distance from each other. Movie theaters were empty. Multiplexes and film companies, which had been thriving with over 20 million viewers, were anxious about the frozen theater market.

It was thought the situation would disappear in at most three months, but that was a misconception. As the COVID-19 situation continued for over two years, lifestyles changed. With unreleased new films piling up on distributors' external hard drives, film production dropped significantly to about 30% of previous levels.

On the other hand, OTT enjoyed a boom. Viewers gradually became accustomed to consuming content at home instead of theaters. Netflix achieved its highest sales, and Disney Plus, Apple TV, and others began services in Korea. Native OTTs like TVING, Wavve, and Kakao TV also heated up their own content production to catch up.

Many Chungmuro personnel also moved en masse. One actor said, "When I go to OTT content filming sites, most of the production staff I worked with on films are there," adding, "The boundaries between areas have now become blurred. OTT has become both distributor and producer as well as the theater. I don't feel much difference in the work process or buzz."

Although the film industry experienced ups and downs with production delays and cancellations, OTT content production became active. An industry insider said, "I heard that the budget allocated for one domestic work planned for production on an overseas platform this year is in the hundreds of billions of won. Expectations for K-content have risen," adding, "Actors who had been conservative about OTT are naturally turning their attention to the trend."

Netflix has settled in the domestic market. Unlike before when it was used only in its home country, the U.S., the timing aligned well to successfully target East Asia. The original series "Squid Game," released in September last year, ranked number one worldwide and sparked a craze overseas. The following release, "Hellbound," continued the momentum and gained popularity. Both contents dealt with stories related to human death.

"Squid Game" depicted the story of people risking their lives to win prize money. Participants who failed the games died on the spot, and the process of killing and fighting each other unfolded as entertainment. "Hellbound" portrayed angels predicting death and grim reapers causing death at the announced time. It told stories of people who die for no reason and those who commit evil acts by exploiting this.

The next in line is "All of Us Are Dead," a zombie story set in a high school, released on the 28th of last month. It is about high school students who survive after a desperate fight and struggle to escape zombies running in school uniforms. Heavy topics such as filming of sexual exploitation materials, sexual assault, teenage pregnancy, and school violence were presented in an entertaining way.

All of these are popular contents chosen by many domestic and international viewers. However, they were criticized for lacking ethical awareness and portraying crimes with actual victims lightly for commercial purposes. It was pointed out that the directors lacked sufficient consideration.

OTT content induces continuous viewing by making viewers curious about the next episode. This aspect can be seen as appealing, but recently there have been concerns in the industry.

One production official said, "Looking at OTT series made over the past two years, most contain scenes with bloodshed or sexual stimulation to create tension. It can be understood as a device considering platform characteristics, but recent content has high levels of sensationalism and mostly one-dimensional stories recklessly presented."

He continued, "It is regrettable that the atmosphere is obsessed with ranking number one in the release week by chasing momentary issues. If this continues, it will eventually become poison," adding, "If it goes on like this, there may be competitive searches for even more sensational stories. In the long term, it is important to maintain trust that K-content means well-made content."

A director who recently directed an OTT series said, "There was a time when Japanese dramas, called 'J-dramas,' enjoyed worldwide popularity. But chasing more sensational stories like melodrama, infidelity, and family scandals eventually led to being ignored," adding, "Ultimately, good content might be the answer. I hope an era comes when MSG-free, wholesome content is loved on platforms and enjoyed by many people. It is a time when creators need to reflect."

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