The Death of the Korean DVD Industry: A Sign of Things to Come in the U.S.?
09/03 2008 | 02:54 PM
Posted by: Janko Roettgers
ony Pictures is leaving South Korea because of sluggish sales and rampant piracy, The Korea Times is reporting this week. Sony isn’t the first studio to abandon the Korean market; according to the Times, Paramount, Universal, Buena Vista and 20th Century Fox have all ceased operations there, meaning there is no longer a major Hollywood studio operating in South Korea.
Korean DVD sales have been in a free fall in recent years. The newspaper quotes estimates for 2008 of some $285 million vs. $673 million in 2002. At the same time, blazing fast broadband is ubiquitous. The country’s average broadband penetration rate by household hit 90.1 percent last year; in Seoul, the rate was 107.8 percent. Korea’s broadband revolution is often touted as a sign of things to come for the rest of the world, but is the same true for the death of its DVD market? Continue reading on Newteevee.com.
Korean DVD sales have been in a free fall in recent years. The newspaper quotes estimates for 2008 of some $285 million vs. $673 million in 2002. At the same time, blazing fast broadband is ubiquitous. The country’s average broadband penetration rate by household hit 90.1 percent last year; in Seoul, the rate was 107.8 percent. Korea’s broadband revolution is often touted as a sign of things to come for the rest of the world, but is the same true for the death of its DVD market? Continue reading on Newteevee.com.
