How Much Did Netflix Spend in Busan This Year? [BIFF]

Occupation of Large Billboards in Haeundae... Lineup Unveiling Event
'Between Tradition and Acceptance' Busan Film Festival Embracing OTT

A billboard for Netflix's "Hellbound 2" on the building opposite the Busan Haeundae-gu Busan Cinema Center
[Photo by Yonhap News]

How much did Netflix spend in Busan this year? At the Busan International Film Festival (BIFF), which opened on the 2nd, all the expensive-looking billboards around the Busan Cinema Center in Haeundae are taken up by Netflix. This year, the atmosphere favors online video services (OTT) over theatrical films.

During the pandemic in 2021, when there were no new Korean films, the Busan Film Festival created the 'Screen On' section to screen new OTT series. At the time, it was seen as an event, but the roles have since reversed. This year, the opening film was Netflix's "Jung, Ran," produced and co-written by director Park Chan-wook and fully funded by Netflix. It is the first time in the festival's 29-year history that an OTT film has been selected as the opening film.

Netflix is conducting aggressive marketing at this year's Busan Film Festival. They have put up large advertisements on the building opposite the Busan Cinema Center, the festival's main venue, and are broadcasting large electronic billboard ads on Haeundae Street, where major festival events take place, showcasing their presence. The red 'N' mark symbolizing Netflix is visible everywhere.

Photo by Lee Iseul

On the afternoon of the 2nd, the opening day of the 29th Busan International Film Festival, the team of the Netflix film "Jeon, Ran" walked the red carpet at the outdoor theater of the Busan Cinema Center in Haeundae-gu, Busan.
Photo by Yonhap News

The 'Busan Night' event, traditionally held by major film investment and distribution companies, has been largely taken over by Netflix. On the 4th at 6 p.m., Netflix will hold 'Next on Netflix: 2025 Korean Films' for the press at the Park Hyatt Busan in Haeundae. It is the largest night event held in Busan this year. This is Netflix's first media event for the press at the Busan Film Festival. Attendees include Netflix director Kim Tae-won, director Yeon Sang-ho of "Apocalypse," director Kim Byung-woo of "The Great Flood," director Kim Tae-jun of "84 Square Meters," director Namgung Seon of "History of Confession," and director Lee Tae-sung of "Praying Mantis." During the festival, the 'Creative Asia Forum,' involving key Netflix Asia personnel, will also be held.

This year, the Busan Film Festival has fully embraced OTT. Six new OTT works will be screened, including "Gangnam B-Side" (Disney+), "A Week Before I Die" and "Good or Bad Dongjae" (TVING), and "Spotlight Is Mine," "After Goodbye," and "Hell" Season 2 (Netflix). Disney+ displayed a large advertisement for its new release "Gangnam B-Side" on the outer wall of BIFF Hill at the Busan Cinema Center, and TVING is hosting 'TVING: Popup' and 'TVING Hip Hop Party' during the festival.