The rise of global streaming platforms has fundamentally changed how producers approach remaking film and TV shows in different languages, according to a leading Korean studio executive.
Hyun Park, global division head at Korea’s Studio Dragon, was speaking at the inaugural Busan Story Market on Saturday (October 8) as part of a session exploring how to produce successful remakes and highlighted how the wide availability of foreign-language content is changing the approach to adaptations of existing IP.
“The remake industry has changed quite a bit in the past five years because of global OTT platforms,” he said. “We now have platforms with global audiences of over 100 million people and audiences in the US are watching Korean language shows.
“We talked to companies like Netflix, Amazon and HBO who have our IP and would say, why remake this when the people are watching the original? As a result, we have pivoted and don’t want remake IP anymore. We call them adaptations.
“Every adaptation we do in the US market will be additive to the original, it will be different. The user will watch it and be reminded of a tone or a feeling of watching something else but it won’t be apparent that it’s from the original.”
Studio Dragon, the drama production house owned by CJ ENM, has numerous international hits under its belt such as romance drama Crash Landing On You, apocalyptic horror Sweet Home and fantasy romance Hotel Del Luna. It is in production on a Korean-language remake of French series Call My Agent.
Looking ahead, Park added: “The next step will be choosing Korean IP and working with production companies in France to bring new types of storytelling as the first French-Korean co-production.”
Pitches
The session also included pitches by four French sales executives, showcasing titles being touted for adaptation.
Tess Massé, a sales agent and marketing executive at Les Films du Losange, pitched Clouds Of Sils Maria, Olivier Assayas’ psychological drama about a middle-aged actress who tackles insecurities and jealousy when cast alongside a younger star. “It has strong female characters with a strong concept that make it very interesting to adapt for other cultures and countries,” Masse told the assembled audience.
TF1 international sales manager Alexandre Rene pitched Babysitting, a comedy from Philippe Lacheau that was made for $3.5m and went on to gross more than $23m. Rene highlighted the benefits of lower budget features in the current climate.
“I’d recommend you look for a smaller budget film because the cost of production has increased after Covid and with inflation,” he said. “We saw a couple of remakes in Korea and heard the budget had gone up by 10% to 20% so that’s complicated when releasing a film theatrically.
“If you have a huge budget and huge P&A, you will have a certain return on investment. But if you have a small budget film and if it flops, you can always recoup with a couple of international sales as well as DVD and TVOD. If it goes big, then it’s a win win situation for everybody.”
Valentine Loche, sales executive at Pulsar Content, brought horror feature The Deep House and said: “This is very suitable for remake as it’s a strong and daring feature. The haunted house is a popular concept but this takes place in a unique context – underwater.”
The pitches were rounded out by Céline Lin, head of international business at remake specialists Maremako Films, who showcased science fiction comedy The Visitor From The Future. “The story blends elements from time travelling to zombies, action, comedy and drama,” she said. “The film was made for around €4m but feels like a big blockbuster. It’s still in French cinemas has reached 350,000 admissions, a good result in a post-Covid depressed market, driven by strong word of mouth, good reviews and an active online community.”
The session was opened by Julian Ezanno, bilateral affairs advisor at France’s CNC, and Ludovic Guillot, cultural counsellor at the French Embassy in Korea. Screen International hosted the session, which was sponsored by Blintn, an online B2B content database that connects media professionals with the rights holders to films, series, novels and cartoons from around the world.
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