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Movie releases and movie streaming on OTT platforms have replaced movie theatres. Many films whose theatrical releases were delayed or abandoned because of the epidemic were released on OTT services.
This year, the industry anticipates that OTT viewing will continue to outpace movie going. The Korean film industry is evolving because of the success of OTT streaming services. Due to the convenience and ease of accessing a broader variety of content, these new services are creating new prospects for the film market.
Furthermore, specialised genres are becoming more and more popular in Korea. Niche genres did not previously garner attention or time slots at theatres.
Collaborating with private importers in the area is one of the traditional methods of exporting movies to Korea. Other well-known local movie importers include Pop Entertainment and Mountain Pictures.
Major film markets like EFM, Cannes Film Market, and AFM offer a chance to network with the regional Korean film importers. Partnership with significant/local OTT platforms can give US content firms access to the local market as Over-the-top (OTT) services become increasingly popular among Korean movie viewers.
JYP Entertainment is a leading mobiliser of the equipment in the market. The latest integration has been JYP Entertainment leaning more toward R&B because its founder has a big effect on the business.
He is the primary songwriter and driving force behind the musical projects of his organisation. The business is renowned for launching the careers of legendary K-pop performers like Wonder Girls, Rain, and Miss A, to mention a few.
To locate young, talented children and bring out the best in them, businesses similar to theirs establish an academy, a form of training structure. Although it was initially organic, we systematised it.
YG Entertainment is part of the component manufacture trending companies in the current industry. The YG Entertainment was an invincible force in the Kpop market.
YG prioritised attitude above the typical attractiveness of Kpop and featured hip-hop. With the use of this formula, Big Bang and 2NE1 were commercial successes, and PSY’s fame helped the group go global.
They consistently have some of the highest views on YouTube for their music videos. They have been able to collaborate with Inters cope, the representative label of Universal Music Group, because of being able to reach a global audience.
With the growth of multiplexes and the acceptance of the movie-going culture, Korea has become one of the most active cinema markets in the world. To lead the world in entertainment and media imports and exports is one of South Korea’s objectives.
The Korean wave (Hallyu) is currently extremely popular around the world and can be found in everything from Korean TV episodes and movies on media service platforms to pop singers’ music videos and games.
The media and entertainment sector is seen as a major engine for the country’s future economic growth by the Korean government. South Korea has developed into an excellent testing ground for new entertainment technologies and media due to its extensive ICT infrastructure, including high-speed mobile connectivity and diverse purchasing power in the entertainment industry.
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