[In-depth Report] Top A-artists is too expensive to hire! Costing 1 billion Korean won per episode! The industry points out 4 works that have greatly succeeded with a counter strategy.
Following on from the previous article discussing the impact of Korean dramas after they landed on Netflix, and the constantly increasing production costs, many production companies are facing threats from domestic OTT platforms. This is also drawing significant attention to the future direction of Korean dramas.
As previously mentioned, the entry of international OTT platforms has brought about changes in the South Korean drama market. Indeed, the arrival of these well-funded platforms has elevated the overall quality of the industry's productions.
From writers, directors, performers, amd casts to the entire production team, they have all grasped the most important elements during filming. However, without enough preparation, more TV dramas failed to level up. According to a report by "Herald Economy", the rising production costs are undoubtedly related to personnel costs; thus, under the circumstance of rising labor costs, it has become more difficult for production companies with weaker capital.
In the past 1 to 3 years, among the TV dramas that have been pre-produced, there hasn't been a channel or platform found to broadcast them, and over 20 such dramas are just accumulating in the warehouse. Therefore, if a drama is already produced but cannot be aired or listed on a platform or television station, it will also have an impact on the production company.
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