Key Takeaways
Both film and TV production have surged, particularly in L.A., with only commercial production remaining flat. Netflix has become Korea’s video streaming market leader after a strategic pivot towards greater local-language content. This possibly makes Korea the most competitive streaming market in the world, which is why Apple TV Plus has launched to compete in that region. Apple TV’s new multilingual show “Acapulco” continues to show that language is not an obstacle for viewers to experience new cultures and that exciting storytelling is universal. ViacomCBS has bought majority stake in Spanish content producers, which is becoming the norm for new platforms as they try to compete in the LATAM region. This all speaks to the need for streamers to attract audiences with a healthy balance of both local and global content.
L.A. Film Production Booms, Approaches Record Levels
Film production in Greater Los Angeles surged during the third quarter of 2021, according to a new report by FilmLA. The increase in shooting marks the third strongest quarter in twenty-six years, with a total of 10,127 shoot days. Compared to last year, which was still being impacted by the pandemic and shutdowns, total production rose 141.2 percent. — READ MORE
Netflix Under Pressure in Korea after ‘Squid Game’ Success
Netflix faces a multi-faceted wave of pressure in South Korea. The global success of Korean-made Netflix original series “Squid Game” has drawn new attention to the firm’s payments to creators. The company has been locked in months of dispute with leading Korean internet service provider SK Broadband, which argues that Netflix needs to make financial compensation for the huge volumes of traffic the streamer generates. — READ MORE
‘Acapulco’ Shows the Power of Multilingual Programming in U.S.
The newest Apple TV+ show ‘Acapulco’, shows a near-even split between English- and Spanish-speaking lines to keep the storytelling and bilingual characters authentic, which mean that all viewers are watching a show with subtitles. As U.S. audiences grow more comfortable with subtitles and international productions, we’ll likely see even more multilingual or non-English language shows in the future. — READ MORE
ViacomCBS Buys Majority Stake In Spanish Content Producers
Through this transaction, Viacom Networks International will gain access to Fox TeleColombia & Estudios TeleMexico’s studio operations in both Colombia and Mexico. This content will fuel ViacomCBS’ global streaming platforms including Paramount+ and Pluto TV, and its linear networks around the world. Fox TeleColombia & Estudios TeleMexico will also bolster ViacomCBS’ Spanish-language content production capabilities to capitalize on significant content demand both in the region and worldwide. — READ MORE
Apple TV+ Launches in Korea, Increasing Competition
Apple TV+ launched in South Korea on November 4 with the premiere of its first original K-drama series, “Dr. Brain.” The Korean launch is one of the first in Asia for Apple TV+. It is priced at a deliberately affordable KRW6,500 (US$5.50) per month, reflecting the tech giant’s late entry into a streaming market that is already tight and set to get tighter. — READ MORE
