K-Pop Exports Reach All-Time High – Global Bulletin
KOREAN MUSIC TRADES
Exports of K-pop albums increased by 17% year on year to reach an all-time record of $133 million in the first six months of the year. The U.S. is now the second biggest overseas market for Korean music worth $25 million, having overtaken China, but still trailing Japan ($48 million), according to data from the Korea Customs Service.
The next largest were Germany, Taiwan, Hong Kong, the Netherlands, Canada, the U.K. and France.
The record was achieved despite the absence of BTS as a group (though BTS members Jimin, and Suga put out solo efforts) and saw Stray Kids, Tomorrow X Together, Seventeen, Ateez and Twice all make an international impact.
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CONFERENCE SCHEDULE
Mipcom Cannes has revealed the lineup and schedule for its 39th edition of the International TV Co-Production & Entertainment Content Market (Oct. 16-19) and the 31st edition of the Mipjunior Kids Screenings & Co-Production Market (Oct. 13-15).
More than 250 exhibitors from over 40 countries have confirmed their participation, with both the Riviera exhibition halls and outdoor Croisette beach exhibition areas completely sold out. Amazon MGM Studios Distribution, Paramount Global Content Distribution and Warner Bros. Discovery, among others, will be part of the initial exhibitor lineup.
The event will feature the newly minted “Mip Lab,” which will focus on AI and FAST (Free Ad-supported Streaming Television) channels. Additionally, Mipjunior will host a half-day pre-opening program, granting buyers access to the screenings library.
Other highlights include the Diversify TV Awards, the International Format Awards, the Women In Global Entertainment power lunch and the Variety Vanguard Award.
MUSICAL EXIT
Yip Cheuk Tung (aka Tony Yip) has tendered his resignation as the chief strategy officer of Tencent Music Entertainment Group, the company announced. The move is made for personal reasons and will become effective Aug. 31. Yip joined the company in 2018, in time for two share listings in New York and Hong Kong and a strategic stake purchase in Spotify.
‘BARBENHEIMER’
Leading Indian ticket booking service BookMyShow has reported brisk advance sales for “Barbie” and “Oppenheimer,” both of which release on July 21. “Oppenheimer” sales opened three weeks ago and have already notched up 300,000 tickets sold. The film is the only Imax release this weekend in India and 42% of tickets booked on BookMyShow have been for immersive cinematic formats, specifically Imax.
Meanwhile, tickets went on sale for “Barbie” the past weekend and are now at 54,000 in advance bookings. On BookMyShow, 8% of transactors for “Oppenheimer” also booked tickets for “Barbie,” with a large chunk opting to watch both films on the same day. Some 22% of transactors for “Oppenheimer” also watched “Mission: Impossible – Dead Reckoning Part One.”
TURKISH DELIGHT
Hit Turkish rom-com “Bitter Sweet” has been licensed to distributors covering 70 countries. Starring Can Yaman and Ozge Gurel the show tracks a new chef who finds work with a businessman and sets herself on a path to fulfilling her dream of opening a restaurant – and finding love.
“Bitter Sweet” is produced by No 9 Productions, has 81 commercial hours available and has been aired with strong rating on Star TV. International rights are handled by Global Agency.
REASON TO BE CHEERFUL
“A Man of Reason,” a film that marks the feature directing debut of top Korean actor Jung Woo-sung, has been licensed to play in 153 territories sales agent Acemaker Movieworks, said Tuesday. Jung also stars as a man released from prison, who discovers that he has a daughter and does not want to return to the life of a gangster. The gang’s boss swears to wipe him out. The movie is set to release in Korea on Aug. 15.
FOUNDATION
Bollywood actor Bhumi Pednekar (“Afwaah”), who runs an advocacy platform on social media called Climate Warrior that aims at educating people about the need for environmental conservation, now has revealed plans for restoring ecological harmony across India by launching a not-for-profit organization the Bhumi Foundation. Launching in the next few months, the foundation will aim at empowering organizations and climate conservationists to bring about real change and reduce the impact of pollution and carbon footprint in India.
“My name means Earth. Going forward, a portion of my earnings from my films, my brand endorsements and any other revenue stream will go towards the Bhumi Foundation so that this money could be further used to aid the environment,” Pednekar said.
BRAND AMBASSADOR
Indian actor Rashmika Mandanna (“Goodbye”), who works across the Kannada, Telugu, Hindi and Tamil film industries, is joining Tiger Shroff as a brand ambassador for Crunchyroll. Mandanna will join forces with Crunchyroll at various events, helping introduce more fans across India to the breadth and depth of what they can experience on the service..
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