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Post by The Ultimate Nullifier on Feb 7, 2015 19:49:30 GMT -6
variety.com/2015/biz/news/berlin-korea-scores-overseas-sales-rise-1201426032/Overseas sales by the Korean film industry increased by 6% last year to $63.1 million. That appeared to represent a reversing of several years of weakness, but revenues in the form of royalties dropped by 28%. More than making up for the slowdown in rights exports was a 64% surge in the provision of services such as location shooting services and VFX for foreign films. The rise in overseas sales may be a sign of good things to come for the sales and distribution companies at Berlin’s European Film Market. The EFM this week sees the launch of Contents Panda, a new sales operation from Next Entertainment World. Last year, CJ Entertainment’s “Roaring Currents” not only became the absolute B.O. record breaker in Korea, it also became one of the highest grossing Korean films of all time in North America, with a take of $2.54 million. Data published this week by the Korean Film Council (KOFIC) showed that the overall size of the Korean filmed entertainment market grew by 7.5% to $2.09 billion (KRW2.2 trillion). While the single biggest contributor to the expansion was the theatrical box office, there was 30% growth in the IPTV market and VoD services delivered by via TV, which grew by 30% to $214 million (KRW225 billion). VoD delivered via the Internet dropped 32% to $48 million (KRW50 billion).
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