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Busan Film Market Aims for Year-Round Impact
10 Oct
Summary
- ACFM director proposes ACFM 365, a year-round digital platform.
- Market growth outpaces public funding, hindering expansion efforts.
- Focus shifts to producer IP retention and international co-productions.
ACFM director Ellen Y.D. Kim advocates for transforming the Asian Contents & Film Market (ACFM) into a year-round platform named ACFM 365. This enhanced service would integrate market data with matchmaking functions, creating a permanent database. Kim highlights a significant challenge: public funding has not scaled with the market's growth, leading to concerns about sustained development and international reach.
Kim stresses that supporting the film industry and its markets is an investment in crucial infrastructure, not merely an event. She aims to increase international representation and bolster existing programs like The A Report and the Asian Project Market. A key strategic focus is empowering Asian producers to retain their intellectual property and revenue, moving away from reliance on global platforms. This shift is reflected in new initiatives like ProducerHub and the Busan Story Market.
Co-productions are increasingly vital for risk-sharing, a strategy necessitated by the current economic climate, where Korean commercial films show negative returns. New funding sources are emerging from diverse sectors, including technology and non-film industries, complementing essential public investment. The market is also adapting to technological advancements and the evolving media landscape, with a focus on the intersection of cinema and technology.
