Achieving USD 16.64 million in Exports in the World's Largest Broadcast Video Market
Date Nov 23, 2022
The Ministry of Culture, Sports and Tourism (Minister PARK Bo Gyoon, MCST) and the Korea Creative Content Agency (President JO Hyun rae, KOCCA) took part in the world's largest broadcasting and video content marketplace, "Marché International des Programmes de Communication (MIPCOM) 2022" held in Cannes, France from October 17 (Mon) to 20 (Thu), and helped garner export volume of approximately USD 16.64 million (approximately KRW 22.05 billion), which was more than double that of the year before. And on the strength of the boosted demand for Hallyu content, Korean content or K-Content makes their first appearance at the “Dubai International Content Market (DICM) 2022” from November 23 (Wed) to 24 (Thu) to advance to the Middle East and North African markets for the first time.
Achieved export performance of KRW 22 billion, a doubling from the previous year, with 63 items of content from 17 companies
At this year's MIPCOM, 321 broadcasting and video content creators from 108 countries with 10,896 people involved, and 3,100 buyers from around the world participated in various consultations geared towards signing export contracts and remake productions, etc,. With more than 300 attendees from Korea, the largest number of participants ever, 17 domestic broadcasting, production, and distribution companies, along with their 63 contents garnered a whopping USD 16,641,800 in exports. This is an upturn of 105.9%, more than double the previous year, and a surge from USD 1,589,3543 in 2019, pre-COVID-19, recouping much more than what was lost during the pandemic. It may be safe to say that the brand power of Hallyu (K) content, which has become part of the major global content market, illustrated by shows such as <Squid Game> and <Extraordinary Attorney Woo>, has led to remarkable export deals.
An up-close look at this year's achievements indicates that works of various genres, such as variety shows (formatted) and dramas, succeeded in signing contracts to export to North American and European markets (Italy, Turkey, etc.). Recorded highest ratings ever in Germany, USA and Australia, <The King of Mask Singer (MBC)> was sold additionally in South Africa, etc., putting the total number of countries where the show was sold at 55 in the world. A variety show (formatted), <Battle in the Box (Something Special)> aired on MBN last year has signed an options contract with TRESOR TV of Germany. A new drama <The Youngest Son of a Conglomerate (SLL⎸JTBC)> has signed an export contract with a global over-the-top (OTT) media service. And export contracts were signed for dramas <TRAIN (CJ E&M)> and <Monstrous (CJ E&M)> with a British company, while the documentary <The Snake that Swallowed the Light (EBS)> with a US company, respectively.
A special premiere of the show <Extraordinary Attorney Woo> for those in the industry was also successful. LEE Sang-baek, CEO of the production company AStory, who participated as a speaker at the premiere, said, "(Following the participation in the MIPCOM), we have been offered to do the remake of the drama from multiple countries, and that will lead to new works to be created in the future."
On November 23~24, Korea operates a joint booth with five companies and 12 contents at the “Dubai International Content Market”
In addition, the MCST attends the “Dubai International Content Market (DICM) 2022” on November 23 (Wed) and 24 (Thu) and run a Korean joint booth where it hosts a premiere of Hallyu content. The participation in the DICM was planned to respond to the increased demand for Hallyu content in the Middle East and North Africa (MENA) region of late. At the first Korean joint booth in Dubai, five broadcasting content companies will showcase 12 contents including, <Love in Contract (CJ E&M)>, <Green Mothers’ Club (SLL⎸JTBC)>, <Brain Cooperation (KBS Media)>, and <Broke Rookie Star (PH E&M)>. On November 23 (Wed), the opening day of the DICM, a premiere introducing Hallyu content was held to promote sales in the MENA region.
 International Market of Communications Programs: The world's largest broadcasting shows market where more than 10,000 people involved in broadcasting and video content take part every year and the 38th MIPCOM was held in 2022
 Dubai International Content Market (DICM): It is an international broadcasting and motion picture exhibition in the Middle East and North Africa region, where content showcases, sales, investments, and distributions take place and the 5th DICM was held in 2022
 Options contract: A contract in which a local production company or agent is granted the right to sell formatted programs to broadcasters for production and distribution