TLDR;
This video explores the Korean drama (Kdrama) industry, revealing the hidden struggles behind its global success. It examines the traditional formula that makes Kdramas addictive, the impact of Netflix on the industry's financial structure, and the emerging threat of micro-dramas. The video highlights how the pursuit of bigger budgets and the rise of short-form content are potentially eroding the unique storytelling qualities that made Kdramas popular.
- The traditional Kdrama formula relies on specific emotional arcs, the concepts of "chong" (deep affection) and "han" (compressed sorrow), and a live-shoot system that adapts to audience reactions.
- Netflix's entry into the Korean market led to increased budgets and international exposure but also created a system where producers bear financial risks without sharing in the profits, leading to less experimentation and more reliance on proven formulas.
- The rise of micro-dramas and AI-assisted content creation poses a threat to the traditional Kdrama model, potentially diluting the quality and depth of storytelling.
Intro [0:00]
The video introduces the story of Tongya Kuang, the creator of Squid Game, highlighting that despite the show's massive success and nearly $900 million in revenue for Netflix, Huang did not become rich from the first season due to receiving a one-time fixed fee without royalties or a meaningful share of the IP. The video questions the sustainability of the "golden age" of Kdramas, suggesting that behind the scenes, budgets are increasing, production companies are struggling with debt, and writers are earning less while working longer hours. It sets out to explore how Korea continues to produce addictive drama series despite these challenges.
Chapter 1: K-drama’s Secret Formula [3:50]
This chapter explains the formulaic nature of Kdramas, which often involve a successful CEO falling for an ordinary girl, nasty in-laws, childhood trauma, and dramatic twists. Despite the predictability, these shows are highly addictive, leading to binge-watching. The traditional Kdrama format consists of 16 episodes, a structure that emerged in the 1990s as public broadcasters experimented with shorter miniseries. The 16-episode format became the sweet spot due to economic reasons, fitting neatly into an 8-week advertising cycle. The emotional arc of a classic Kdrama involves setting up the world in the first four episodes, developing characters in the next four, introducing betrayals and reveals in episodes 9-12, and providing payoff and catharsis in the final four. Kdramas are built on the concepts of "chong," a deep emotional bond, and "han," a compressed sorrow and resentment. The live shoot system, where episodes are filmed while others are airing, allows audience reaction to influence the show's direction.
Chapter 2: The Netflix Trap [18:10]
This chapter discusses how the COVID-19 pandemic and Netflix's entry into the Korean market changed the Kdrama industry. Netflix began licensing Korean shows, making them available to a global audience and competing with Korean broadcasters. As Korean content gained popularity, Netflix shifted from licensing to commissioning originals, retaining the IP rights. This led to increased budgets for Korean dramas, with Netflix spending significantly more than traditional broadcasters. While this initially benefited Korean producers, it also created a "Netflix trap," where producers became dependent on larger budgets to earn more money, leading to less creative risk-taking and a focus on proven formulas. The chapter also notes that despite the increased budgets, junior writers and assistant writers are still paid poorly.
Chapter 3: Micro-drama: The TikTokification [31:34]
This chapter explores the rise of micro-dramas and their impact on the Kdrama industry. The popularity of TikTok and short-form video has rewired viewing behavior, with many Koreans preferring compressed, vertical storytelling. This has led to the emergence of micro-dramas, which are short, episodic series designed for smartphones. Chinese micro-dramas have become a multi-billion dollar industry, offering producers speed, control, and the possibility of real upside. Korean companies are now experimenting with micro-dramas, but there are concerns that this format may erode the unique qualities of Kdramas, such as slow-burn attachment and emotional payoff. The chapter also discusses the use of AI in micro-drama production and the potential for micro-dramas to become the new talent pipeline, further disrupting the traditional Kdrama industry.
