South Korean TV community JTBC is able to rename its manufacturing wing and can improve funding in it to create extra content material.
Earlier this week, throughout a press occasion, the community shared that its group of 15 manufacturing corporations has been renamed to Studio Lululala (SLL) – the primary broadcast group will retain the JTBC identify. The phrase “lululala” is claimed for use to specific pleasure in Korea, for Selection.
Current work by SLL’s subsidiary producers contains such successes as Thirty-nine and love and climate forecastin addition to all Netflix We’re all lifeless. Upcoming titles like Inside, Monstrous and Netflix’s South Korean remake of cash theft are additionally beneath the jurisdiction of the LLC.
Along with the rebrand, SLL shared that it could additional improve its funding over the subsequent three years to proceed producing content material that’s on the forefront of Korean leisure.
The manufacturing group is now committing to ship ₩3 trillion (about £1.9 billion) in its content material manufacturing from 2022 to 2024. SLL will even be increasing additional within the Asia-Pacific area, with launches deliberate in Japan and Singapore later within the 12 months.
“The corporate identify change implies that we’ll take the leap as a worldwide content material chief, increasing our studio enterprise in all instructions, together with drama, movie, leisure, digital, CG/VFX, music and administration,” stated the CEO of SLL. Jung Kyung-moon on the occasion.
“We are going to set up ourselves as the perfect producer of premium content material [and] captivate viewers world wide.”
In January, Netflix additionally shared that it could proceed to speculate closely in South Korean content material to “sustain with the tempo” of its opponents. Whereas it couldn’t reveal the precise quantity of Netflix’s funding in Korean content material for the 12 months, the streaming platform did reveal that it could be a minimum of ₩550 billion by 2021 (roughly £338 million).