[Zoom In] ‘Is It Worth the Money?’ Soaring Top Actor Fees, Will the Bubble Burst?

‘Top Star = Box Office Success’ Formula Is a Thing of the Past
In the Era of One Person, One Channel, Boring Content Often Gets Ignored

The photo is not related to the specific content of the article. Photo by SBS

[Asia Economy Reporter Lee Isul] The media market has changed. The term 'Hallyu' has become a thing of the past, and the phrase 'overseas expansion' feels outdated as K-content has become highly sought-after worldwide. Changes are also being felt in the production environment. The biggest reason is that the viewers and audiences consuming the content have changed. The logic of supply and demand applies to the content market as well. The majority must consume and be satisfied for the next production to proceed smoothly. The easiest way to secure stable profits used to be casting famous actors.

In the past, the first question was always who the lead actor was. Actors with high recognition and trust were the top casting priority. How famous the actor was, how large their fandom was, how much advertising they did, whether they managed themselves well to avoid risks, and even the number of followers on their social media accounts were all comprehensively considered when determining their guarantee fee. The higher the expectations and the more producers wanted them, the higher their 'price' became.

That is no longer the case. The era when casting a top star directly guaranteed box office success is fading. Films starring famous actors have been met with audience indifference and left theaters with dismal scores, and dramas led by well-known actors have frequently fallen into the quagmire of humiliating single-digit ratings. The industry seems to welcome this change. There is a growing voice hoping for a shift away from the forced casting of actors and the production environment where they reign like kings.

Content is flooding the market like a deluge, and even choosing what to watch has become exhausting. Additionally, as barriers to entry for platforms like Over-The-Top (OTT) services have been lowered, audience and viewer standards have risen. The sharp increase in movie ticket prices has also contributed to more discerning tastes. Films that are uninteresting or controversial see their Egg ratings at theaters shattered within half a day of release. In the era of one person, one channel, uninteresting content quickly spreads negative word-of-mouth and is shunned.

The same applies to dramas. The appearance of a star does not necessarily translate into high ratings. Of course, casting actors who also work as advertising models can secure stable sponsorships. From the perspective of generating revenue through sales to broadcasters and OTT platforms in Asia, casting stars with global fandom is important. However, domestic box office performance remains a crucial consideration in overseas sales.

One production official revealed, "Although the market has changed, some actors' fees remain high, and casting them raises production costs. To compensate, we end up having to insert excessive PPL (product placement)." He added, "Now, audiences and viewers have become smarter. They understand why they have to watch exaggerated PPLs for unnecessary fried chicken, beauty sticks, coffee, and so on. More viewers are growing weary of this, and blatant advertising is being criticized online."

Another film industry insider said, "In the past, having a famous actor guaranteed a certain level of ratings and audience numbers, but that is no longer the case." He explained, "When a top actor decides to appear after reading the script, all settings and situations have to be adjusted to their liking. It is not uncommon for even the casting of co-stars to be changed. Forced editing sometimes leads to a lack of plausibility and lower quality in some works. As a result, many productions fail to even approach the break-even point amid the cold shoulder of discerning audiences."

He continued, "To meet the tastes of audiences who are looking for reasons to come to theaters as quality content increases, many good works need to be produced. Everyone should recognize that casting top stars is not the only solution and put more thought into making good films."