South Korean buyer CLP International has announced a deal with the territory’s largest telecom operator Korea Telecom (KT) to supply them with overseas box office hits for KT’s IPTV service Qook.
“We’re authoriSed to buy SVOD rights to the top ranking hits from each and every territory,” said CLP International’s CEO Chris Lee, former head of acquisitions at major South Korean distributor Showbox.
“Foreign arthouse films may get limited releases when sold for very low minimum guarantees, but non-US, foreign commercial films rarely have a chance to get exposure in Korea. Qook is a good opportunity for distributors to check Korean audience response and potentially expand their base,” she said, adding she will be shopping for more than 15 films at EFM.
With piracy protection and technical systems approved by five major US studios, Qook also has contracts with Warner Bros., Sony, Fox, Disney (BVI) and Paramount.
So far, CLP has picked up overseas hits such as the Bollywood movie Fashion from UTV, French spy flick OSS117: Rio Ne Repond Plus from Gaumont, and period piece Taras Bulva from Russia’s Central Partnership.