Selling Films Overseas and Getting Betrayed: The Story of Content Panda

Legal Action Against Little Big Pictures, Partnered with Netflix for 'Time to Hunt'
"Irresponsible Act Causing Harm to Film Companies Worldwide"

[Asia Economy Reporter Lee Jong-gil] Content Panda, which has been in charge of overseas sales for the film Time to Hunt, is taking legal action against Little Big Pictures, which transferred the rights to Netflix. On the 23rd, the company stated, “Little Big Pictures' double contract disregards the agreements made with Content Panda based on trust by overseas film companies and irresponsibly makes film companies around the world victims,” adding, “We will take legal action to minimize international damage.”

Content Panda signed an overseas sales contract with Little Big Pictures, the investment and distribution company of Time to Hunt, on January 24 last year. They sold the film to about 30 countries at multiple international film markets and even secured invitations to international film festivals. A Content Panda official explained, “The screening at the Berlinale Special Gala section of the 70th Berlin International Film Festival last month was also the result of relentless efforts,” adding, “Since then, we have continued to knock on overseas doors and achieved 10 additional pre-sales in the past month.”

However, these efforts were undone overnight. Little Big Pictures announced on the same day that it had transferred the rights to Netflix. Content Panda claimed, “They verbally requested contract termination earlier this month without sufficient discussion with us. We said unilateral contract termination is unacceptable and proposed alternatives, but they were not accepted.” They continued, “We are facing not only financial losses but also the risk of losing the reputation and trust built in overseas markets. This harms not only us but also the trust in Korean cinema as a whole.”

The background to Little Big Pictures' reckless decision is the recent spread of the novel coronavirus disease (COVID-19). Originally, the film was scheduled to be released in theaters on the 26th of last month. However, due to the sudden spread of COVID-19, the release had to be postponed, and eventually, they chose internet video streaming services. Little Big Pictures explained, “Considering the ongoing COVID-19 risk, we proposed Netflix as the most effective way to safely reach a larger audience.” CEO Kwon Ji-won said, “If theaters normalize and the film is released later, an additional 1.3 to 1.5 billion KRW will need to be spent on promotion and marketing. It may also be difficult to secure screens as many films will be released simultaneously.”

Content Panda expressed empathy for the difficulties but argued, “They did not distinguish between theatrical release countries and streaming countries where sales to Netflix had already been completed. There was no effort to find the best release timing together.” They added, “Ignoring the legitimate rights secured by overseas film companies has caused a serious situation that could lead to international disputes,” emphasizing, “A precedent that threatens the survival of domestic overseas sales companies operating based on legal contracts must not be set.”