KONJIWON Report 'Analysis of Economic Ripple Effects of Content'
Game Production Induced Amount Increased by 1441.8% Over the Past 10 Years
Statistics show that when content export revenue increases by 1 million dollars (1.3355 billion KRW), the national brand value rises by approximately 410,000 dollars (547.56 million KRW).
On the 31st, citizens are touring booths at the international broadcasting video market 'BCWW (BroadCast WorldWide) 2022' held at Dongdaemun Design Plaza in Seoul. Photo by Mun Ho-nam munonam@
According to the recent report "2023 Study on the Economic Ripple Effects of the Content Industry" published by the Korea Creative Content Agency, both content export revenue and total industry export revenue positively influenced the increase in national brand value. In particular, the former had a 39.8% greater impact on the increase in national brand value compared to total export revenue.
The findings were derived from an analysis of national brand value, content export revenue, and economic and social indicators from eight countries (Republic of Korea, United States, Canada, United Kingdom, France, Germany, Japan, and China) between 2010 and 2020. A representative from the Korea Creative Content Agency stated, "National brand value is an indicator measuring the tangible and intangible values that constitute a country," adding, "It is significant in that it quantifies the impact of content export revenue on indices representing national competitiveness."
The report also includes an analysis of changes in production output and value-added amounts directly and indirectly induced by content industry exports. According to this, the production inducement amount from content industry exports increased from 6.1766 trillion KRW in 2010 to 13.4735 trillion KRW in 2019, marking a 118.1% increase over the past decade.
The sector with the largest growth was games, which surged by 1441.8%. Animation (294.7%), comics (191.3%), music (179.3%), character licensing (62.1%), and broadcasting (26.2%) followed in order.
The value-added inducement amount from content industry exports rose from 2.5541 trillion KRW in 2010 to 9.976 trillion KRW in 2019, an increase of 290.6%. By sector, growth rates were 1574.1% for games, 371.7% for animation, 239.4% for comics, 184.6% for music, and 58.1% for character licensing.
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