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K-Dramas Face Collapse: Industry Warns of Crisis
4 Nov
Summary
- K-drama production has fallen by approximately 30% since 2022.
- Domestic networks drastically cut drama output from 91 to 32 titles.
- Rising costs and reduced broadcaster investment threaten the industry.
Twelve South Korean industry groups have issued a dire warning, urging the government to invest in and support the nation's television drama production. The groups expressed concerns that the K-drama production base is on the verge of collapse.
Production of K-dramas has seen a significant decline, falling by approximately 30% from the 141 titles produced in 2022. Domestic broadcast networks have slashed their drama output from 91 titles in 2012 to just 32 in 2023, with some channels ceasing weekday dramas altogether.
Industry representatives attribute this slump to escalating production costs, intensified by competition with well-funded global streaming services. They also cited broadcasters' reduced capacity for investment and challenges in securing intellectual property rights. Advertising revenue alone is no longer sufficient to cover production expenses, making output reduction a logical choice for broadcasters.
The groups further criticized the government's draft budget for 2027, which proposes a 4.5 billion won ($3.35 million) cut to the culture ministry's broadcast-video funding. This decision is seen as detrimental to an industry facing critical challenges.
