HBO max announced in December last year that films produced this year by HBO Max would be released simultaneously on HBO Max’s OTT platform and in theaters. The fact that many of the big-screen films were included in this announcement, such as MATRIX 4 and KONG VS GODZILLA, was a big issue. This isn’t just a story for HBO Max. On the 5th, SPACE SWEEPERS, Korea’s first SF film, was released exclusively on Netflix instead of in theaters. Since the film has been a hot topic since the production stage, the decision of SPACE SWEEPERS to release it on Netflix was a big surprise for people.
These examples highlight the impact of Covid-19 on patterns of content distribution. With the limited screening of theaters due to COVID-19 and the growth of the OTT platform, an online distribution ecosystem is being developed. In line with this, platforms that support online distribution have begun to expand.
“Vuulr” or “Rights Trade” are examples. Vuulr is an online rights trading company in Singapore, with 6,500 works introduced through the platform since its first launch in 2018. Via its platform, Vuulr distributes different Asian content to areas where it has not previously been distributed. Rights Trade is an American online rights trading company established in 2016 by rights expert Jaime Otero. The platform has about 30,000 users, including major media firms such as Lionsgate and Legendary. There is also a platform called “blintn” that has evolved one step further in online distribution, analyzing the characteristics of content and regions and providing curations together.
It provides curation services to help select content suitable for the characteristics of the platform, in the midst of a flood of content. This lowers the time cost of right buyers’ screening of content and helps to provide content that is better suited to their needs. Another unique aspect is that the transaction for the remake rights is also carried out through the platform. The Korean TV series Good Doctor was remade and aired on ABC in the U.S. and was so successful that it was produced until season 4, and the Korean film SNOWPIERCER was remade and confirmed to produce season 3 on Netflix. As such, remakes are common these days, and blintn provides a remake rights trading service for the original, which is verified, helping to expand the content.
A major shift in the content distribution system has been triggered by COVID-19. We should pay attention to how, after the COVID-19, the rights trading market that has been underway in offline environments such as MIPCOM and NATPE will change.
