Under new chief Ellen Y.D. Kim, Busan International Film Festival’s industry platform, the Asian Contents and Film Market (ACFM), is increasing its activities related to the new technologies impacting the content industry, as well as encouraging international co-production.
The market is hosting a day-long conference (October 6) exploring the integration of AI into content production, with speakers from companies including Stability AI, Microsoft, iQiyi and Naver Webtoon. On October 7, a conference focused on streaming will include sessions analysing the business strategies of Asian’s regional OTT platforms and the evolving nature of OTT storytelling.
“These sessions will focus on how platforms in Japan, Taiwan and Southeast Asia are carving out unique survival strategies amidst intense global competition,” says Kim. “Additionally, we will explore how the rise of OTT platforms has transformed storytelling approaches, particularly in series and short-form content, through specific case studies.”
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BIFF has long faced up to the reality that physical film markets for trading completed films are becoming less essential, as sales activity shifts to online and year-round meetings, and global deals with streamers become the norm alongside territory-by-territory, all-rights deals. During the pandemic, ACFM smartly positioned itself as a platform to discover Asian IP, including manga, books and games, through its Busan Story Market, which year has expanded to also include French IP.
While ACFM was previously overshadowed by Hong Kong’s Filmart, which takes place in a pre-Cannes slot in March, the market has hit its stride post-pandemic, while growing political repression has made Hong Kong a less attractive place to visit.
ACFM organisers won’t comment on regional politics, but the market has confirmed that registration numbers for this year’s edition are trending higher than last year, with strong interest from most Asian territories. “Additionally, we’re witnessing growing engagement from North American and European markets, especially France and Italy,” says Kim. “Saudi Arabia will also have an expanded presence this year, reflecting the broader global attention on the event.”
ACFM is also launching a new initiative, Producers Hub (October 5-7), to strengthen networking among producers seeking international co-production and financing opportunities. Each year, Producers Hub plans to select a Focus Country, showcasing co-production projects, producers and industry trends from that country, and is starting from its home base with South Korea.
Korea has not traditionally been an active co-producer, tending to handle finance and international distribution from within its own borders, but co-production is becoming a growing trend in Asia, with several national film commissions launching co-production funds, so ACFM aims to examine how Korea can fit into this evolving ecosystem. “The goal is to foster partnerships that enable international co-productions and explore new financing models that meet the evolving demands of the global market,” says Kim, adding that producers from 18 countries are attending the event, including 47 from Korea.
Despite the innovations, ACFM continues to be a traditional rights trading platform – one that is drawing an increasing number of Asian and European sales agents, some of whom are questioning their continued attendance at Filmart. While Chinese buyers have started returning to Filmart, and are less likely to attend ACFM because of China’s soft ban on Korean movies, European sales agents say they still meet a good range of Asian buyers in Busan.
“We figured that for the kind of films we represent in our line-up – high-quality features from emerging directors – Busan is the most important market in Asia for us,” says Benjamin Colle, managing director of Germany’s Pluto Film, which has Jiang Xiaoxuan’s To Kill A Mongolian Horse playing in BIFF this year. “Since we’re not attending AFM, it fits well for us into the annual international circuit.”
Yuan Rothbauer, co-managing director of Germany’s Picture Tree International, will be attending AFM, but agrees ACFM’s timing is effective. “We need a strong market to meet Asian buyers after Cannes and before the end of the year, and Busan fits perfectly. We’re introducing a few titles in Busan that will be officially announced at AFM, so will be making an unofficial pitch to Asian buyers, giving them a sneak peek, especially those who don’t come to AFM,” Rothbauer says.
European Film Promotion is bringing 28 sales agents to this year’s ACFM, which will also host national pavilions from Italy, France, Spain and the UK, as well as wide range of Asian pavilions from countries including Thailand, Philippines, Taiwan and Japan.
Other draws at ACFM include the highly-regarded and long-running Asian Project Market, which this year has selected 30 projects, including several from former New Currents filmmakers; Platform Busan, a networking initiative for independent filmmakers; and of course the many dinners, parties and networking events scattered throughout the four days of the event.
ACFM takes place October 5-8 at the BEXCO convention centre, during Busan International Film Festival (October 2-11).
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