Korean Film Council reports industry exports up by 17.5% in 2017

Screen | 1/31/2018 | Jean Noh
aniki (Posted by) Level 3
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South Korean film industry exports went up by 17.5% last year, according to a 2017 market analysis published today by the Korean Film Council (KOFIC).

Exports totaled $118.8m with completed films taking in $40.1m, a sum down 7.2% from the previous year.

Contrast - Export - Services - VFX - DI

In contrast, export of services such as VFX and DI almost doubled to $78.1m, with demand for services on large-scale Chinese films at a steady flow.

The government-funded agency noted the most remarkable recent trend was global OTT buyers of Korean films – e.g. Netflix picking up worldwide rights to Train To Busan and Pandora and Amazon Studios picking up The Handmaiden for the US in 2016. In 2017, Netflix snapped up North-South Korean action thriller Steel Rain and Yeon Sang-ho’s sci-fi thriller Psychokinesis before local release.

Asia - % - Sales - North - America

Asia accounted for 53.2% of sales, North America for 12.1%, Europe for 9.3%, Central and South America for 3.8%, Oceania for 1%, the Middle East for 0.4% and “other/worldwide” for 20.1%.

The digital online market grew 5.7% to $402.4m (KW436.2bn) last year. Television VOD made up for 81.2% of this, with growth at 5.9%. Internet VOD sales went up 10.8%,...
(Excerpt) Read more at: Screen
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