[Kulture Issue] Implications of rising global video streaming platform production fees

Recently, global video streaming platforms have been raising their production costs dramatically, affecting the content industry around the world, including Korea.

Will these higher costs lead to significantly improved content quality or just become a bigger burden to content makers and users? Let’s discuss this issue with culture critic Professor Chie Hye-won at Kyung Hee University’s Arts and Cultural Management Program. Welcome Professor Chie!

Q1. Let’s start with an example of a recent high-cost Korean drama, “When Life Gives You Tangerines“ on video streaming giant Netflix. How big of a budget are we talking about?

Q2. What other Korean dramas were big budget productions? How did they turn out? (Were they all successful?)

Q3. What’s the reason behind the rising production costs and how is the growing investment in Korean content by global producers affecting the domestic content production landscape?

Q4. Spending more money on a production surely contributes to higher quality. but is it really necessary? What's your assessment Professor Chie?

Q5. Skyrocketing actor salaries are also a major part of production costs. How are big budgets for superstars affecting production companies' budget allocations as well as staff pay levels?

Q6. What about underfunded video streaming services or production companies? How do they keep their competitiveness in the Korean drama industry?