Local independent video production companies earn 4.5 trillion won in 2021

Sales from Korea’s independent video production companies exceeded 4.5 trillion won ($3.58 billion) in 2021, the Korea Creative Content Agency announced Tuesday. Sales from independent video production increased 15.6 percent on year, while exports...

Production staff and actors on the set of ″Nothing Serious″ on Nov. 24, 2021. [CJ ENM]

Sales from Korea’s independent video production companies exceeded 4.5 trillion won ($3.58 billion) in 2021, the Korea Creative Content Agency announced Tuesday.

Sales from independent video production increased 15.6 percent on year, while exports increased 41.5 percent on year in 2021, according to the Korea Creative Content Agency. Exports reached $280 million for domestic independent video production.

Video exports accounted for the highest share of total exports at 53.4 percent, followed by license sales at 46.4 percent.

The number of businesses, sales, and number of employees of independent broadcasting and video production companies all showed an increasing trend. As of the end of December 2021, 732 independent broadcast video producers with sales from video content were identified.

In particular, the number of businesses with sales of 1 billion won to 10 billion won increased by 2.2 percent from the previous year in 2021, and the number of businesses with sales over 10 billion won increased 10 percent on year.

The number of employees at independent broadcasting and video production companies in Korea increased 3.5 percent to 13,568 in total.

Drama series accounted for 64.9 percent of sales of independent video production companies. Other entertainment and reality television sales took up 11 percent, while culture and current affairs content accounted for 5.7 percent.

BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]