Post-COVID Film Industry: The Rise of OTT Platforms

The film industry faces a pivotal shift as OTT platforms redefine content consumption and challenge traditional theaters.

### The Impact of COVID-19 on the Film Industry and the Rise of OTT Platforms
The COVID-19 pandemic significantly decreased theatergoers by **73.7%** in 2020, leading to a surge in the OTT service market. Both foreign and local OTT platforms in South Korea are competing by offering **original content**, driving up competition for market share. The key competitive advantage for these platforms is the **amount of high-quality content** they possess, leading to a focus on **direct investment in content** and intensified competition.

### The Impact of OTT Platforms on Film Distribution
Pedro Almodóvar criticized the Palme d'Or win for "Okja," highlighting the **contradiction of a non-theatrical film receiving the award**. The French theater Hepé and South Korean multiplexes opposed the film's release, fearing it would **disrupt the traditional distribution system**. The differences between cinema and OTT films, such as **viewing environment and screen size**, contribute to a **clash between the two platforms' content**.

### The Impact of Theaters and OTT Platforms on the Film Industry
The film industry's revenue structure relies on **theater screenings**, which stimulate **reinvestment in new films**. The Korean Film Development Fund, supported by movie ticket sales, plays a crucial role in **production**, film festival assistance, and **re-educating film professionals**. The rise of OTT platforms has created a **legal gray area**, limiting their contribution to the film industry and potentially **diminishing diversity in available films**.

### The Impact of OTT Platforms on the Film Industry
The Netflix original movie **Tower of Tools** has won **Best Director**, reflecting a shift in the industry. The rise of OTT platforms during the COVID-19 pandemic has changed audience preferences, leading to a focus on **shorter series and stimulating genres**. Director Lee Chang-dong predicts a polarization in cinema, with a future emphasis on **large-budget films and upscale theater experiences**, potentially utilizing **VR and AR technologies**.

### The Impact of OTT Platforms on the Film Industry
OTT platforms offer **convenience and global simultaneous releases**, but lack **temporal and geographical suggestions**. Netflix has become the leading producer of **English-language films**, while Christopher Nolan has set **strict conditions** for his new partnership with Universal Pictures. The future role of OTT in relation to traditional film releases remains **uncertain**.

### The Evolution of Cinema: Navigating the Post-COVID Film Industry Landscape
* 🎬 The lifting of social distancing measures has sparked a renewed interest in the film industry, which has been profoundly affected by the COVID-19 pandemic since 2020, resulting in a **staggering 73.7% decline in theatergoers** in South Korea.
* 📺 The rise of OTT services has transformed viewing habits, with platforms like **Netflix, Disney, and local services like Tving and Wave gaining dominance** and producing **original content to attract audiences**.
* 💡 To maintain market share, OTT platforms focus on **acquiring content through licensing, partial investments, or direct ownership**, intensifying competition as traditional production companies enter the streaming space.
* 🎥 The controversy surrounding original content was exemplified by the screening of Netflix's "Okja" at Cannes, which raised questions about the **legitimacy of films not shown in theaters** receiving prestigious awards.
* 🏛 The traditional film industry's theater-centered revenue structure supports reinvestment into filmmaking, while OTT platforms operate outside this model, leading to concerns about **diminishing support for independent films**.
* 📈 Changes in film festivals, such as Cannes partnering with TikTok and the Venice Film Festival awarding Netflix films, reflect a **shift in how films are presented and recognized** in the industry.
* 🤔 While some view OTT platforms as beneficial for film production, others worry about the future of cinema, predicting a **polarization between blockbuster and small-scale films** and a potential **decline in traditional theater attendance**.
* 🌍 Ultimately, the question remains whether OTT will **complement or replace** traditional film experiences, as the industry adapts to **new viewing preferences and technologies**.

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