Translation result
Sankyeong Today — Park Myung-jun
BTS’s free comeback concert at Seoul’s Gwanghwamun Square was more than a cultural moment; it became a showcase for international collaboration in the content industry.
Observers say the event combined large-scale investment with a novel rights-allocation framework between streaming giant Netflix and Hybe, pointing to a new revenue model for K-content.
On the 22nd, industry sources said Netflix invested more than 10 billion KRW (7.5 million USD) to produce the show and covered the full cost. That represents a significant rise from the roughly 7 billion KRW (5.25 million USD) spent on the 2022 Busan performance, a jump industry insiders attribute to higher labor costs and the expense of staging a major urban concert.
What stood out was the rights arrangement. Whereas platforms that finance productions often secure a portion of content rights, Hybe retained ownership of the music and performance intellectual property in this deal.
Netflix, in turn, obtained exclusive global streaming rights under the agreement.
Global networks played a key role in brokering the deal. Initial talks stalled, but Hybe America, the company’s U.S. unit, intervened—using local contacts to open direct discussions with Netflix executives and ultimately unlock the investment.
That intervention helped move the negotiations forward and secure the large-scale backing.
Netflix streamed the concert live to roughly 190 countries, creating a simultaneous global viewing experience.
Notably, the concert backdrop featured Gwanghwamun and Gyeongbokgung—Korea’s traditional cultural landmarks—seamlessly integrating content with tourism and cultural promotion.
On social media, international fans circulated videos shot around the Gwanghwamun area, extending the “K-culture” experience into digital spaces.
Industry executives are calling the project a new collaborative model that pairs the financial muscle of global platforms with K-content IP, and they predict that artist-centered global distribution networks will continue to expand.
Most Commented