Bollywood, Nollywood, Korean Wood explore new business models – Deadline

Post-pandemic audiences are far more open to other cultures thanks to streaming and exposure to new types of content, but some of the world’s largest film industries remain in a rapidly changing landscape. “Cinematic” speakers said that they are exploring how to adapt to the Crossovers panel in Red Sea Souk.

Three major industry producers with international reach – Woo-sik Seo of South Korea Barunson C&C (parasite), India’s Jugaad Motion Pictures’ Dhir Momaya (last movie screening) and Jadesola Osiberu, founder of Greoh Studios in Nigeria (gang of lagos) – compared their business and financing model to the old world system set up by France’s CNC and Saudi Arabia’s nascent film industry.

However, they concluded that despite its success in making a global impact, the current system faces several challenges, particularly in terms of censorship and intellectual property ownership.

Korean reality check

Seo’s credits also include: Osika and descendants of the sunBy explaining how South Korea’s world-leading film, television, and music industries have grown with a combination of government and venture capital funding since censorship restrictions were lifted in the late 1990s, The discussion has begun. Streaming then fueled global demand for Korean content through hits like the Netflix series. squid game.

But the pandemic and the rise of streaming platforms also provided a reality check for South Korea’s domestic industry.

“Local audiences have become tougher and more objective. They used to watch Korean movies just because they were Korean, but now they can watch everything on OTT, so they can watch it in theaters. I don’t feel the need to go there,” Seo said. He cited the fact that the market share of Korean films has not recovered even after movie theaters reopened.

“The Korean industry needs to re-evaluate what it is doing and start looking for new stories, because what we’ve been doing in the past doesn’t seem to be working anymore.”

evolving bollywood

Momaya spoke about how Indian films have always been very commercially driven as most of the financing for Indian films is done through private equity without government support. “But things are changing. The world is opening up to Indian films in a different way. Some films like lunch box and RRR is distributed internationally to non-diaspora audiences and we feel that is where our focus should be. ”

He also explained how Pan Narin was financed. last movie screeningThe film was structured as an Indo-French co-production with Indian and Belgian equity investors and was pre-sold in several territories. “The film was shown in Japan for 45 weeks, and in Italy it was shown in 250 cinemas. So it wasn’t just about showing the film” in the diaspora. The response and feedback we received gave us the confidence to make more films like this one, with very local stories but with global themes. ”

Momaya also said that while Indian audiences have become much more open to watching different types of content on streaming platforms, theatrical distribution remains a challenge for films that stray from the traditional Bollywood formula. Stated.

“Without India’s big stars, Indian theaters don’t provide the platform needed to make films like this. However, last year saw several films released with different sensibilities and textures. The mindset of producers, the mindset of studios, the mindset of audiences have all changed, and the ecosystem has become more mixed.”

Nollywood relies on streaming

Osiberu described a similar situation in Nigeria. Although most films in Nigeria are private equity-financed and commercially driven, a new wave of Nigerian films has recently emerged, including CJ Obasi’s films. Asami WataAbba Makama’s lost love and Chuco Esiri and Arie Esiri. Eimofe (This is my desire).

However, she also said that the Nigerian industry has become even more dependent on streaming since the pandemic as the country’s theatrical infrastructure has been severely hit. “Before the pandemic, we went from having just one movie theater nationwide in the early 2000s to about 100 movie theaters nationwide in the early 2000s.”We have five years of space and are growing steadily. . But then the pandemic hit and all that growth was wiped out. So now it’s slowly picking up again, but the crowds aren’t where they were before,” Osibele said.

“But what has grown during this time is streaming. Netflix and Amazon have both entered the market, and that’s helping.”

Osiberu’s Greoh Studios signed a three-year deal with Amazon for her to produce original films. gang of lagos. She added that both the film and Anacle Films. black calligraphy Netflix movies have resonated with audiences outside Africa thanks to streaming. “Interestingly, both films are doing very well in South Korea because you never know how many Nigerians are there.”

saudi melting pot

Charlene DeLeon-Jones, executive director of Saudi Arabia’s Film Al-Ula, said that in the same way that K-pop expanded its global audience to K-pop, African film and television will be similar to Korean content. talked about having the advantages of In dramas and movies (and very popular in Saudi Arabia), Afrobeats is currently one of the hottest music trends in the world.

She also spoke about how Saudi Arabia’s nascent content industry has the opportunity to become a “hot bowl” of cultural influence. At a more global level. We also incorporate best practices and partnerships from elsewhere. ”

She used the example of Stampede Ventures. K-pop!, an example of this new melting pot approach, is being filmed in Los Angeles and Saudi Arabia’s AlUla region. “This is an American film that fuses hip-hop, R&B, and K-Pop artists in a music drama. We will also be making another film with a sizeable budget that combines Chinese, Arabic, and American elements. We’re also talking about that. I think what we’re going to see here is really a mix of what’s happening elsewhere because of when it started.”

Exceptions to French culture

Jeremy Kessler, European and international director at France CNC, explains how the French system is funded by “avances sur les cetes” (basically a tax on income from commercial exploitation of films). He talked about how he has supported local films. “But it’s important to note that this model has always adapted, first as a tax on admission, then extended to TV and DVD, and in recent years to include a tax on streaming, including US streamers. I did,” Kessler said. .

Kessler also explained how French co-productions and funding through the Aide aux Cinemas du Monde have supported films in many international regions in Europe, Africa, Asia and South America. “But it’s interesting that Francophone and Anglophone Africa have different cultures, because Francophone Africa is more focused on subsidies and government funding, whereas Anglophone Africa is not. .”

Panelists also talked about how these diverse industries can work together, not only through formal channels such as co-production, but also through investing in and distributing each other’s films, and exchanging talent and knowledge. “Each country has its strengths. South Korea, for example, can learn from action sequences.” RRR,” Seo also exclusively shared with Deadline that Barunson has made his first investment in an Indonesian film.

Censorship and new business models

But the conversation inevitably turned to the thorny issue of censorship and producers’ retention of intellectual property. Although South Korea does not face free speech issues, Momaya and Osibele spoke about the issue of self-censorship and how their industry is suffering from audience ire on social media.Amazon runs into trouble in India due to viewer backlash against drama series Tandav, and Osibel said there is a lawsuit gang of lagoswhich has upset certain Nigerian communities.

Regarding intellectual property issues, Kessler pointed out that Netflix owns all rights. Lupin, one of the largest French-language programs, and “therefore is not technically or legally a French production”. France became one of the first world territories to introduce government regulations to allow local producers to retain certain rights.

Seo said that when Netflix first entered South Korea, local producers did not think about ownership issues because streaming gave them the opportunity to show their films around the world. “But what we’re not happy about right now is how Netflix decides whether to produce the next season without the consent of the original creators, which could jeopardize our ability to generate continued revenue.” So we’re now looking to protect the intellectual property of both the film and the series by directly financing and distributing it to other countries.”

Osiberu spoke of a similar situation in Nigeria, saying, “African countries were colonized twice, first by the British and then by the American media.” “And intellectual property issues are a big topic for us because in the short term you’re focused on how to keep the lights on.” These American companies can finance How can we continue to produce work at a budget level and still get exposure to the whole world? However, the government needs to develop policies that will allow local producers to obtain at least a minimum amount of intellectual property in the future. I think you’re trying to intervene on some level. ”