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Culture Industry is Hot! the Global Entertainment and Media Outlook report (2006), the worldwide market for cultural content is worth of 1.6 trillion getting bigger than conventioanl industries - US explains 44%; Japan 8.5%; Korea 2.2%

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Culture industry is hot l.jpg
Culture Industry is Hot!

the Global Entertainment and Media Outlook report (2006), the worldwide market for cultural content is worth of 1.6 trillion getting bigger than conventioanl industries

- US explains44%; Japan 8.5%; Korea 2.2%

Peter Drucker, “The success and failure of each country will be decided by the cultural industries in the 21st century. The final battleground is the cultural industry."


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What is Culture Industry?

also called as leisure industry, information industry, creative industry or media industry

the definition and what are included differs by country

The GEMO report includes culture industry into fourteen segments: films, TV network, broadcast and cable, recorded music, video games, publishing (magazine, newspaper, books), amusement and theme parks, sports, characters, etc – fashions, architecture, design


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Market Share of Culture Industry by Country (2003)

Source : Global Entertainment and Media Outlook (2004)


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GDP and culture industry growth: 2000~2003

Other countries

Korea

Cultural contents growth rate

GDP growth rate

25

9.2%

4.6%

10

8

6

4

National Economy

Cultural Contents

2

US

Canada

UK

France

China

Source: Culture Industry White Paper(2004)

Source: Global Entertainment and Media Outlook: 2004-2008


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Korea’s market share in some manufacturing and cultural industries in 2003

Unit : hundred million dollar


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Distinctive Features of Culture Industry industries in 2003

risky business: cultural consumption are highly subjective and individualistic and changes very often, therefore hard to predict; a few hits

heavily dependent on information technology: but IT killed publishing/music insutries

very low reproduction (variable) cost with window effects that highly profitable like a gambling

environmentally friendly (less pollution and less natural resource consumption)


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Korean Cultural Wave since 2000 industries in 2003

Before the Korean Wave, Japan had been on the forefront of the television and film industry in Asia, followed by Hong Kong and Taiwan

American films dominate the world: even in France domestic movies’ market share was 45 percent in 2008 (EU average, about 25 percent)

Young/talented/new blood came into Korean movie industry like Kim Ki-Duk, Park Chan-Wook have stolen the fame of a Japanese legendary director Akira Kurosawa


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Movie Audiences in Korea industries in 2003

Source: 2007 Korean Movie Year Book, Korean Film Council, 2007


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Factors for pushing Korean Wave to Replace Japanese and Honkong’s

strong government support; culture industry related budget from US$ 8.5 billion in 1999 to US$ 43.5 billion in 2003

the relatively lower price even cheaper than domestic products

Korean TV dramas and films retain traditional values and virtues: family centeredness, respect for the elderly

China and Japan relationship got worsened in the 1990s


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Is Korean Wave just a passing fad? Honkong’s

Are film and drama industries are declining globally?

Is the Korean Wave starting to cool down and already fading away?

in 2008, which was a very bad year, Korean cinema took slightly over 40 percent of the market

the critical decline in its old markets but recently spread to new shores like the Middle East, South America, North Africa and Central Asia


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<figure 1> Export and Import of TV Programs in Korea Honkong’s

($1,000)

Export and Import of TV Programs in Korea


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Korean Movie Export Honkong’s

Source: 2007 Korean Movie Year Book, Korean Film Council, 2007


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Korean Movie Export by Countries Honkong’s

Source: 2007 Korean Movie Year Book, Korean Film Council, 2007


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Threats for the Korean Wave Honkong’s

some Asian countries have started to consider the Korean Wave as a cultural invasion, some even calling for a ban on the import of Korean pop culture

China in 2005 cut airtime for Korean dramas by 50 percent because of an unbalanced trade of cultural products: the ratio of the industrial trade deficit to the cultural trade deficit is 1:10


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Sharing Resources and Market in Asia Honkong’s

Threats for the Korean Wave

statistics have shown that in 2004 there were about 12,000 drama episodes made by Chinese producers, while there was only airtime available for 5,000 episodes. This resulted in a financial loss of 427 million US$ every year

'Manga Kenkanryu' which is used to describe the Anti-Korean Wave, and can be translated as 'the Hating Korea Wave'. It started as a web comic, and triggered a Japanese internet movement after being released in 2005


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Who will lead the next Asian cultural wave? Honkong’s

China with its 1.3 billion of population will be most likely if it further achive economic prosperity

share our resources and avoid unnecessary competition among us; US is now dominating almost half of global culture market

Asian cultural content, if we cooperate with each other, could be nearly as competitive as predominat US cultural products 


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Toward the Future 1 Honkong’s

shrare our experiences/know-hows: Korean pop stars used to be trained in Japan till late 90s; Chinese future-to-be stars are now under trainning in Korea

share human and financial resourses as well as market to comepete with US: Asia accounts for more than one third of global culture industries in terms of population size and expentiture

Late-comers are often perfoming better; through copperation, all can move into frontier sectors of culture industries


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Towards the future 2 Honkong’s

not all culture industries are booming; declining sectors like publishing and music are declining and so-and-so like film (3%) and broadcasting (7%) according to the 2008 GEMO report

However, some sectors are really hot: for instance online and mobile game industries are growing fast by more than 15 percent every year where Korea is a frontrunner


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Towards the future 3 Honkong’s

characters, animation, most up-to-date IT industries are still growing past more than 10% per year where Japan is an invincible leader

cooperative production of various cultural products between Asian countries will be most economical way of competing with US dominance in the field and will bring all of us winners of the 21st century culture industry


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