Are there coproduction possibilities in Japan and Korea?
As we know, Japanese and Korean export unscripted series and dramas around the globe. Japanese formats became powerful in the 1990s with Japanese game shows and formats being adapted in the US and UK markets. Then Korean unscripted content joined the game and became a major player in the 2010s. Both markets are hot only getting hotter.
But the question we often get when meeting with prospective clients is, “Can we sell our unscripted and scripted formats in Korea or Japan?” Yes and no. Both markets have only acquired a few formats from outside their territory for adaptation. But financial and production pressures are creating changes in these territories too. Why? First of all, the smaller budgets and increased competition that producers are feeling everywhere are now evident in Asia too. This has opened the doors for more co-development and co-productions as a way to increase limited budgets. Also, the global streaming services and big-budget shows on these platforms have changed the viewing public perception. They have grown accustomed to top-quality writing, acting, and production and now expect their TV series to rival those shows even though budgets haven’t increased.
As well, the success of productions in Korea specifically has meant that shooting there is more expensive than ever. All creating more pressure, yes, but also more opportunity.
Producers who do want to develop projects in these territories should start building relationships and trust with broadcasters and production companies. Do your homework and learn what their viewership is like. What formats are working within their territory? Does your subject matter interest local viewers? Does it fit with cultural norms in that society? Yes, a format has to have international relevance but first, it has to be interesting and relevant to local viewers first.
Food for Thought: Are you interested in learning more about co-development/coproduction opportunities in Japan and Korea? Reach out and let us know.