The unemployment crisis in the K-drama industry is not slowing down and even the most prominent actors are complaining of not having a contract. Director Shin Won-ho, who directed the popular series “Reply” and “Hospital Playlist,” said in a video on YouTube channel “channel fullmoon” that “ in many cases, a project falls through even with a good director, a good screenwriter and good actors“. After hearing this, actor Jung Kyung-ho commented, “ I heard that 6-7 projects were recently abandoned“, adding: “ There was a script that I really liked, but it fell through, something improbable.” That’s why I’m taking some rest quietly.”
As concerns over the collapse of the K-drama industry continue this year, Kim Ji-seok said on JTBC’s “Reunion of Actors” in March: ” I am aware of the decline of the K-drama industry this year. It’s January 1st and I’m getting more and more anxious because I don’t know if I’ll be able to work this year“
CEO A of a company recently told News1: “ What makes me feel this crisis so clearly is that I remember very well how many films and dramas our actors have been engaged in by the second half of this year and the first half of the year next “, adding: “The situation is very serious because there are only around ten projects, including terrestrial channels and OTT channels “
“There are no plans”, “The broadcast has been delayed”, “The project has been abandoned”, etc., these are what actors say about the current K-drama industry. Indeed, some are unable to know if the dramas in which they starred will be broadcast, while others have no plans, even if they wish to perform, due to the significant drop in the number of drama productions. All of this leads many people to believe that the drama production market is in danger of collapsing.
Broadcasting companies are reducing the number of dramas because currently, MBC only produces dramas from Friday to Saturday, apart from daily series, just like SBS which also only produces dramas from Friday to Saturday. As for KBS, it produces both Wednesday-Thursday and Monday-Tuesday dramas, but flexibly. Despite the diversification of drama broadcast channels with the emergence of OTT services, the number of dramas broadcast successfully has declined significantly.
Secretary-general of the Korean Drama Producers Association Bae Dae-sik told News1: “ We produced 141 dramas in 2022, but last year the number of dramas dropped to 123 and the worst part is that only 105 dramas will be broadcast this year. » Broadcasting companies insist they cannot increase the number of drama projects. A Drama B staff member said: “ Broadcasting companies suffer heavy losses regardless of the type of dramas they broadcast. Although they only pay part of the cost of production, there is no way advertising revenue can cover this cost due to the decline in the number of television commercials.”
As for terrestrial channels, advertising revenues decreased by 21,8% in 2024. Faced with this situation, broadcasting companies are focusing on producing profitable entertainment programs rather than dramas whose production costs are high. “ The crisis is so serious that we are hearing about the closure of medium-sized production companies“, said Drama’s production director, Mr C.
CEO D of a small company added: “ Broadcasting companies have no money, so drama production companies only look for actors who bring in a lot of publicity“. For his part, E, CEO of a production company, also said: “ Successful actors have more opportunities, while those who have not had projects have fewer.”
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What is your opinion on this decline of the K-Drama industry?