Renaissance of Local Asian Content
Increasingly, we are seeing Asian content being exported globally. Justin Deimen, President- Film/TV of 108 Media talked about various collaborative combinations with the West, where the project might be co-produced out of both Western and Asian countries for the global market. Co-production is a way to hedge bets in expensive ventures. He advised that even if the content is developed for worldwide markets, we should include Asian writers and talent. This is to develop local expertise and also because the perception that the best quality comes from outside Asia is not necessarily true.
Vibha Chopra, Business Head of Zee Studios International Distribution & Global Syndication, agreed. Asian producers are only now waking up to the idea of securing Asian IPs while Western countries have seen value in it before Asian markets did. She urged Asian content producers to be more confident that Asian formats can travel, and noted that there is much greater notice and demand for Asian content because of increasing acceptability. Through OTT platforms, content is cutting across boundaries.
Justin called it the perfect storm, while there are more global buyers for content, people become interested in Asia. With the rise of Asian money, Asia is where the dollars are being spent, and also where chances of content being picked up are, and where the risk is. With increasing collaborations between Asia and the West, language barriers are inevitable, said Hwang Jin-Woo, Head of Global Content Development, CJENM. He advised that processes should be established early. Justin noted that both sides can learn from each other.