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As Netflix and Amazon have announced K-pop fueled productions, DramaFever plans to co-produce at least two original series within the next three years with South Korean production house Studio Dragon, a Warner Bros. executive has announced.
DramaFever, the top Korean drama and film streaming site recently acquired by Warner Bros., has signed a memorandum of understanding (MOU) with Studio Dragon, the newly established TV drama producing unit of South Korean entertainment giant CJ E&M.
Under the co-production pact, the two companies will also explore the prospects of remaking existing films and TV shows, said Craig Hunegs, president of business and strategy at Warner Bros. Television Group, during the Broadcast World Wide (BCWW) opening ceremony in Seoul on Wednesday.
The exec said he was delighted to see Warner Bros. make the move at what he believes is “a critical time for global content business, in which Korean dramas, along with K-pop, are leading the popularity of Korea culture overseas.”
“Studio Dragon was established with an aim to effectively deal with changes in the market as well as to strengthen CJ E&M’s global competitiveness,” said Jinnie Choi, president of Studio Dragon. “The latest deal was reached as Studio Dragon sought ways to expand its audience beyond Korea, by working closely with OTT service providers that have the knowledge of global demand for Korean dramas and operate video-streaming platforms.”
CJ E&M had been working closely with DramaFever prior to the agreement. The video site has had exclusive rights to stream a range of CJ films, while it has utilized CJ’s KCON, a popular Korean pop convention held annually in the U.S. and Japan, as a key marketing tool for interacting with its key audience group.
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