Record-breaking $147 million content export deals signed at Broadcast Worldwide 2024

The Ministry of Culture, Sports and Tourism (The Ministry of Culture, Sports and Tourism)
The Ministry of Culture, Sports and Tourism (The Ministry of Culture, Sports and Tourism)

A record-breaking $147 million of Korean content export deals were struck at Broadcast Worldwide 2024, an annual global content market event held in Korea, an achievement that the Ministry of Culture, Sports and Tourism highlighted Thursday in unveiling its plans to more aggressively market Korean streaming platforms to yet-untapped markets next year.

The ministry also highlighted the role of Korea Creative Content Agency in facilitating the overseas expansion of domestic production companies. This included signing a memorandum of understanding with BBC Studios and Singapore's Viu to pave the way for Korean content production companies to expand their business overseas.

Building on this progress, the ministry said it plans to launch joint productions with BBC and Viu starting in 2025, creating new opportunities for K-content to enter the United Kingdom, Hong Kong and Southeast Asian markets through local platform partnerships.

In addition, the ministry said this year, it introduced a new project that aimed to support the international growth of local streaming platforms such as Wavve, Tving, and Watcha. The initiative included assistance with digital remastering and metadata creation to meet the quality standards required for the content's global distribution.

Going forward, the ministry said it aimed to enhance participation in broadcasting and video markets, further expanding global outreach and supporting Korean streaming platforms to enter new regions.

“The Culture Ministry will continue to support the overseas expansion and joint growth of content production and distribution companies, including local streaming platforms," said Im Sung-hwan, director of the Media Policy Bureau at the Culture Ministry.

“Next year, we plan to broaden the scope of support to regions such as Spain and the Americas to boost exports for our content companies,” he added.


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