25 Years of ATF: Asia’s Media Powerhouse and the Future of Global Entertainment
This year marks the 25th anniversary of the Asian Television Festival (ATF) in Singapore, and there’s no better place to reflect on the explosive growth of Asian media on the world stage. Has the world’s love affair with Asian entertainment really only just begun, or did it all start with a catchy beat and the viral wave of PSY’s Gangnam Style? Today, K-dramas, J-dramas, Thai BL series, and C-pop are household names globally. But can the industry keep booming, or will it face the same pressures tightening the belts of Western media?
We’ll explore:
? A Decade of Korean Wave Dominance – from Gangnam Style to Squid Game, Asian media’s ascent.
? A Resilient Market Amidst Global Downturn – While some regions brace for a slowdown, is Asia’s entertainment industry breaking the mold?
? ATF 2024 Highlights – The must-see sessions, insights, and talent set to make waves this year.
Join us as we dive into the evolution and future of Asian media and what to expect next from this dynamic region.
This should provide a captivating look back and anticipation for what’s to come!
A Decade of Korean Wave Dominance
It’s hard to believe that over a decade has passed since PSY’s Gangnam Style went viral, bringing global attention to Korean pop culture. What started as a catchy tune with an unforgettable dance soon exploded into the Korean Wave, or Hallyu, a cultural force that has since transformed global entertainment. From K-dramas like Crash Landing on You and Squid Game to K-pop groups like BTS and BLACKPINK dominating international charts, Korean media has redefined what it means to go global.
But this wave isn’t limited to Korea. J-dramas, C-dramas, and Thai series, especially the popular Boys’ Love (BL) genre, have surged across Asia, capturing audiences worldwide and reshaping streaming platforms’ content offerings. We’ll look at how these trends have carved a path for Asian content in global markets and why the West continues to be fascinated by stories told from an Eastern perspective.
A Resilient Market Amidst Global Downturn
While Western media faces budget cuts, layoffs, and a streaming industry in flux, Asia’s entertainment market is proving to be an exception. Despite some challenges, Asia seems to be holding strong with a steady pipeline of new productions, regional co-productions, and government-backed incentives to fuel creative industries. For example, Korea’s Ministry of Culture, Sports, and Tourism has invested significantly in promoting Korean content internationally, while Japan has reinforced support for anime and gaming industries.
Could this resilience signal that Asia’s entertainment industry has tapped into a formula that works in leaner economic times? We’ll explore how Asian markets are adapting to new business models, focusing on local stories with universal appeal and pioneering digital formats tailored for mobile-first audiences. Is Asia setting a template for sustainable media growth during global economic uncertainty?
ATF 2024 Highlights
As Asia’s most influential media market event celebrates its 25th anniversary, ATF 2024 promises to showcase both rising stars and established titans of Asian media. From panels on AI-driven production techniques to sessions examining how short-form content is capturing younger audiences, ATF 2024 will spotlight emerging trends and challenges facing the industry.
Key highlights to watch for:
? Content Showcase and Networking: With producers, broadcasters, and distributors from all over Asia and beyond, ATF’s content showcases will unveil the next big shows likely to make waves in international markets.
? Industry Panels: Expect in-depth discussions on the shifting dynamics of streaming, the latest in cross-platform storytelling, and insights from leading Asian media executives on adapting to audience demands.
? Celebrating Milestones and Innovations: ATF will also honor the region’s pioneers and pay tribute to 25 years of innovation and influence in global media.
Whether you’re looking for the next big format to adapt or insights into the shifting landscape of global entertainment, ATF 2024 offers a window into the future of Asian and world media.
Conclusion
ATF’s 25th anniversary is not only a celebration of its legacy but a testament to the lasting influence of Asian media on the global stage. As we reflect on the region’s achievements and challenges, we’ll be asking: Where does Asian media go from here, and how might it shape the next era of global entertainment?
This fleshed-out draft adds depth to each section, providing an engaging, informative preview that resonates with your altmedia readership’s interests in trends, resilience, and future developments. Let me know if you’d like further customization or additional points!
As the Asia TV Forum & Market (ATF) 2024 approaches, several panels and sessions stand out for their relevance and potential impact on the industry. Here are some key highlights:
1. The ATF Leaders Dialogue
Scheduled for December 3, 2024, this session will convene industry captains and experts to share strategic visions for 2025. Discussions will focus on the evolution of the industry, creative challenges, and innovative business models. (Prensario Zone )
2. Content Production Conferences
These sessions will delve into the latest trends in content creation, covering formats from dramas to children’s programs. Global analysts will present exclusive data and statistics, providing insights into current market dynamics. (Prensario Zone )
3. In-Development: Lab & Pitches
Aimed at producers, this series offers a deeper understanding of the facets of the business today, along with presentation preparation tips. It includes initiatives like the “ATF x TTB Animation Lab & Pitch 2024,” focusing on animation projects from Asia and Europe, and the “ATF x Mango 1% Formats Pitch 2024,” an international format competition initiated by Hunan TV and Mango TV of China. (Prensario Zone )
4. ATF x SAAVA 2024 IP Accelerator
This program will select up to 12 ideas and concepts across genres, formats, and business models. The chosen concepts will have the opportunity to meet with decision-makers and funders from various sectors to bring their ideas to life. (Prensario Zone )
These sessions offer valuable opportunities for networking, learning, and collaboration, making ATF 2024 a pivotal event for professionals in the entertainment industry.
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Amazon’s Freevee App Closure
Amazon has announced the closure of its free streaming app, Freevee, as part of a strategic reorganization. Launched in April 2022, Freevee offered a range of classic and original shows, including “Judy Justice” and the revived Australian soap “Neighbours.” Despite the app’s shutdown, its content will remain accessible for free within Prime Video, aiming to streamline the user experience by consolidating content under one platform. (The Sun )
Paramount’s Earnings Report
Paramount Global Inc. reported third-quarter earnings that fell short of expectations, with net income dropping to $1 million from $295 million the previous year. While streaming revenue increased by 10% to $1.860 billion, traditional television and film revenues declined significantly, highlighting the ongoing challenges faced by legacy media companies in adapting to the digital landscape. (MarketWatch )
Warner Bros. Discovery’s Streaming Growth
Warner Bros. Discovery reported a surprise profit for the third quarter, driven by its streaming service Max, which added a record 7.2 million subscribers, reaching a total of 110.5 million. This growth was attributed to new content such as the “Game of Thrones” spinoff “House of the Dragon” and “The Penguin.” However, the company’s overall sales declined by 3.5%, with traditional movie studios and TV network segments facing challenges. (Barron’s )
Decline in Election Night TV Viewership
Television viewership for the 2024 U.S. election night dropped significantly to 42.3 million, compared to 56.9 million in 2020 and 71.4 million in 2016. This decline reflects a broader trend of decreasing traditional TV audiences, as more viewers turn to digital platforms for news consumption. (Associated Press )
Streaming Platforms Introduce Linear Channels
In response to “choice fatigue” among viewers overwhelmed by extensive on-demand libraries, streaming services like Disney+ and Peacock are reintroducing linear, channel-like experiences. Disney plans to launch “Streams,” which are collections of themed, continuously playing content, aiming to simplify the viewing experience and cater to consumer preferences for curated programming. (New York Magazine )
Leading the charge in media’s evolving landscape. Until next week,
Jonathan Glazier
Media Consultant, Format Creator, Director and Executive Producer