SEOUL, SOUTH KOREA / ACCESSWIRE / May 17, 2022 / In 2021, the Korean survival drama Squid Game took the world by storm, with over 142 million households viewing the series during its first 28 days on Netflix. Squid Game earned a 91% rating on Rotten Tomatoes, and according to Bloomberg, the series is worth around $900 billion, making it one of the most successful series in television history.
The TV show’s monster success is not a fluke. Parasite, a 2019 South Korean thriller film, grossed $376,264 from three theaters on its opening weekend in the US, the highest since 2016’s La La Land, and the highest ever for an international film. The list goes on and on – high-quality Korean music, movies, series, and more are being created and conceptualized constantly, and it’s necessary for investors to find a way to connect these exciting undiscovered masterpieces to the worldwide market.
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This is where companies like Blintn come in. Blintn is an online B2B media rights marketplace based in Korea, the US, and China. When excellent content exists overseas, and media markets like the US are searching for quality shows, movies, and music, a go-between s needed to make those vital connections. Blintn is that go-between, creating a network between valuable K-content that might otherwise go undiscovered, and media markets ready to invest and stream this content.
Companies like Blintn are needed now more than ever, considering this new surge in interest, which has prompted a 3-digit figure growth over the last quarter. Media giants such as the United States and the United Kingdom are jumping on the K-content bandwagon. US-based companies such as Netflix and Disney are searching for Korean concepts to invest in so that they can capitalize on the current boom in interest. These global OTTs investing in K-content have provided a unique opportunity for a rise in quality, allowing talented Korean writers to hone their craft and create compelling characters and storylines that resonate with their audience.
Choi Kyung-hee, the head of the research team at the Korean Foundation for International Cultural Exchange, said, “Online consumption of contents has become more common, which served as a major factor leading to global consumption of Korean contents, but this is a result that cannot be achieved without the competitiveness of the content itself.”
In February 2022, the Korean Foundation for International Cultural Exchange and the Ministry of Culture, Sports, and Tourism jointly released a survey demonstrating that the popularity of K-content has reached an all-time high, continuing to gain global notice over the past year. Over 60% of respondents reported noticing an increase in quality and entertainment value with new releases as compared to the previous year, indicating that K-content is becoming higher in quality and exhibiting an ability to connect with viewers. This correlates with similar growth in quality; in 2020, over 58% of respondents reported a rise in interest in K-content and more satisfaction with the content.
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Part of the expansion is due to the growing availability and affordability of high-speed internet in Korea and China, as well as an increase in television viewing during the pandemic; but the growing interest is becoming a worldwide phenomenon. This surge of Korean cultural popularity has been called “Hallyu”, which means “Korean wave”. The term refers to the way Korean entertainment is spreading around the world, like a wave. More and more foreign companies are ready to invest in K-content and obtain distribution rights.
But high-quality K-content can only be globally enjoyed if it’s globally available. The trend toward streaming services offers an ideal opportunity for companies such as Blintn to connect K-content to the rest of the world. Peter Choe, CEO of Blintn and media industry lawyer, believes that the high levels of growth in K-content interest reflect the quality and worldwide appeal of the various offerings. “People have started to really believe in the power of authenticity and the emotional depth that K-content can convey with its storyboard,” he says.
“Blintn believes that great content should reach more places, and more viewers deserve to experience new great content of their taste,” says CEO Choe. “We hope to fulfill our mission by introducing hidden gems around the world to more U.S. viewers.”
Blintn is an online business-to-business (B2B) marketplace focused on media rights. From license to format, Blintn’s smart curation engine finds the best match for content sellers and buyers. Blintn provides all of the service tools necessary for rights trading to easily maximize the value of content. Blintn makes distribution and acquisition easier and more successful by providing auto-buyer target marketing, a searchable content database, personalized real-time curation, and a deal-making service. Blintn is committed to providing a fair and transparent global marketplace.
Blintn’s users can view all types of Asian content, whether it’s blockbuster series like Squid Game or hidden gems that no one has heard of yet. The cycle becomes complete when competitive Asian media companies reach out to purchase English content from the US and Europe, allowing Asian and English countries to fulfill their mutual needs easily through its content search engine and deal-making service.
Blintn can be contacted directly on blintn.com, via e-mail at [email protected], or via phone at +82 70 7893 3808.
Blintn is a global B2B platform for all content rights that offers an online marketplace for global content with the mission of introducing outstanding content extensively. Its focus is providing Korean entertainment to the rest of the world.
SOURCE: blintn
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