Seeking the Next Global Hit? Look East: Asian Content Gains Larger Presence at LA Screenings 2024
The recent global success of Korean content highlights the power of Asian storytelling. This success isn't a one-off. The LA Screenings, a major annual event for the international film and television industry, has seen a growing number of Asian media companies attending in recent years. This shift showcases the growing appeal of Asian cinema and its potential to dominate global entertainment markets.
LA Screenings?
Most readers are probably familiar with this event but for those who aren’t here is a quick overview: The LA Screenings is a major annual gathering for players in the international film and television industry. It provides a platform for content creators, distributors, and financiers to network, do business, and keep up with the latest trends.
LA Screenings Importance
LA Screenings takes place every May in Los Angeles, California. While traditionally focused on pilot presentations, the event has evolved into a major international content marketplace showcasing a wide range of films and television shows. It also features conferences, panels, and networking events that bring together industry professionals from all over the world.
The LA Screenings event is important for a couple of reasons:
· The Market: Connects independent creators and studios with worldwide buyers.
· The Deals: Helps shape the year's content market through new sales deals.
· The Trends: Reveals the latest audience preferences and content directions.
History of the LA Screenings
The television industry experienced a trade show boom in 1963 with events like MIPTV (France), MIFED (Italy), and the Monte Carlo TV Festival (Monaco) popping up in Europe while NATPE and the LA Screenings established themselves as key industry events in the United States.
The LA Screenings, originally called the May Screenings, were created by US studios as a way to showcase their upcoming fall TV lineups to international buyers (following the Upfront presentations in New York City). Over the years, the event has grown significantly. While it initially focused on Canadian and Latin American buyers, it has expanded its scope to include a truly global audience. Today, the LA Screenings continue to adapt, even with scheduling challenges posed by other major events like the Cannes Film Festival.
Traditionally, Latin America has had a strong presence at LA Screenings. This is due in part to its well-established telenovela format, as well as a need to cater to the vast Spanish-speaking audience, not just within Latin America, but also among the Latino population in the US.
In 2021 the LA Screenings took place as a virtual event due to the COVID-19 pandemic. This change may have had the unintended consequence of opening the event to exhibitors from outside of the USA that in the past wouldn’t have traveled to Los Angeles.
Shift to the East
In recent years, the Asian film and television industry has experienced a surge in popularity. South Korea, notably, has emerged as a major producer of content that resonates not only with domestic audiences but also attracts a growing global following, as seen in the explosive popularity of Oscar Best Picture winner "Parasite" (film), the phenomenon of "Squid Game" (drama series), and the global success of the "Masked Singer" (reality format). As viewers embrace stories from different cultures, this growth has made Asian content increasingly appealing to international distributors and financiers, suggesting a potential shift in the dynamics of events like LA Screenings in the years to come.
The increasing prominence of Asian exhibitors at the LA Screenings reflects this trend. Turkey has been a consistent presence at the event for several years, showcasing a steady supply of successful Turkish content. Similarly, South Korea's presence has grown significantly, with a growing number of exhibitors highlighting the increasing demand for South Korean film and television. This year, attendees can expect to see a strong showing from Japan as well, with leading broadcaster TV Asahi joining the roster of Asian exhibitors. [to register for a meeting click here!] Though Toei has consistently attended in the past, the inclusion of major Japanese public broadcasters further emphasizes the global appeal of Asian content and the potential for even greater representation at future LA Screenings.
Analysis of Growth
A comparison of exhibitor lists from 2019 through 2023 further reinforces the growing Asian influence at LA Screenings. While this period featured companies from Japan, Turkey, India, Vietnam and South Korea, the dedicated Korean Pavilion in 2023 demonstrates a focus on South Korean content. Furthermore, the absence of an Indian exhibitor in 2019 emphasizes the significance of Zee Entertainment's participation in 2023, hinting at a new trend of Indian content gaining recognition on this global stage.
The rise of Asian exhibitors aligns with, and is fueled by, a growing global demand for Asian content. The industry's shift toward OTT platforms, new distribution models, and the constant demand for affordable content are fueling a surge in interest in Asian content.
Of course, a pessimist might say that a larger trade show presence doesn’t necessarily guarantee greater representation and deals for Asian media companies. However, with more exhibitors from the region in attendance, the chances of Western platforms and audiences discovering Asian-made “Killer Content” can’t help but improve. For anyone interested in the future of entertainment, don't miss the exciting developments in Asian content at this year's LA Screenings.