"Time to Hunt" Chooses Netflix... The Film Ecosystem Is Changing

Netflix's 'Time to Hunt' Released in Over 190 Countries "Always OK for Quality Content"
Little Big "Additional Promotion and Marketing Costs of 1.3 to 1.5 Billion KRW Unavoidable for Theatrical Release"

[Asia Economy Reporter Lee Jong-gil] A major upheaval has occurred in the film ecosystem. The movie "Time to Hunt," which was preparing for a theatrical release, will be released on Netflix without a theater premiere. Although this is due to the spread of the novel coronavirus infection (COVID-19), it is expected to have a significant impact on the future film industry.

Distributor Little Big Pictures announced on the 23rd that the film will be released worldwide in over 190 countries through Netflix on the 10th of next month. "Time to Hunt" was originally scheduled to premiere in theaters on the 26th of last month. It received favorable reviews at the Berlinale Special Gala section of the Berlin International Film Festival, which was first screened on the 22nd of last month, seemingly gaining momentum in attracting audiences. However, due to the sudden spread of COVID-19, the release had to be postponed, and eventually, the choice was made to use an internet video streaming service.

Little Big Pictures explained, "Considering the ongoing risk of COVID-19, we proposed Netflix as the most effective way to safely reach a larger audience." They also took into account the additional promotional and marketing costs that would be incurred if a theatrical release was pursued.

Kwon Ji-won, CEO of Little Big Pictures, explained, "We had almost exhausted the budget because we postponed the release just five days before the scheduled date. We also considered pushing ahead with the release this month, but gave up as the COVID-19 situation had not stabilized." He added, "If theaters return to normal and the film is released then, an additional 1.3 to 1.5 billion KRW would need to be spent on promotion and marketing. It might also be difficult to secure screens as many films will be released simultaneously."

The move to Netflix was possible with the consent of the actors and production team. CEO Kwon said, "Director Yoon Sung-hyun was the most disappointed and felt a sense of loss," but "he understood the company's difficult situation and made the decision willingly." He stated, "Although it will not be screened on a large screen, it can serve as an opportunity to widely promote Korean cinema by being streamed in over 190 countries worldwide. It is also encouraging that Netflix has recently showcased excellent films such as 'The Irishman,' 'The Two Popes,' 'Marriage Story,' and 'Okja.'"

The contract size is reported to be at a level that can recover the production costs as much as possible. A Netflix representative said, "'Time to Hunt' was judged to captivate viewers not only in Korea but worldwide, leading to the contract with Little Big Pictures," adding, "It is currently being translated into twenty-nine languages. We will widely promote the work through additional marketing."

Multiplexes, which had been jointly marketing with Little Big Pictures until early last month, are showing signs of distress. They are concerned that this shift could bring changes to the film industry, which had been centered on theatrical releases. A representative from Theater A said, "We respect Little Big Pictures' choice," but added, "It could pose difficulties for theaters in recovering from the COVID-19 situation." He said, "The most regrettable aspect is losing competitive content," and "The seriousness of the situation is felt as this could happen again even after the COVID-19 crisis subsides." A representative from Theater B said, "As distributors have more options, we will strive to strengthen theater competitiveness."

Regarding this, a Netflix representative said, "We are ready to contract quality content regardless of genre or format. We will continue to work to promote the excellence of Korean content worldwide." CEO Kwon said, "This choice was made under the special circumstances of the COVID-19 crisis, but I think we will face similar dilemmas in the future." He explained, "For small and medium distributors like us, it is not easy to secure screens in theaters. Considering global market entry, Netflix can be a good solution."

"Time to Hunt" is a chase thriller about four friends planning a dangerous operation for a new life and a mysterious pursuer chasing them. It is the new work of director Yoon Sung-hyun, who debuted with "The Guard Post (2011)," starring Jung Hae-in, Park Jung-min, Ahn Jae-hong, Choi Woo-shik, and Park Hae-soo.