• The Journal of the Korea Contents Association
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• v.15 no.5
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• pp.560-569
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• 2015

Crowd funding is the method of raising money for a project, companies from a large group of people via the Internet, in return for future products or equity. Kickstarter is the largest and most successful crowdfunding site where creative projects raise reward based funding. Drawing on dataset of 80,267 projects with combined funding over $1.3b from 8.1m people, this paper suggest that backer select project based on their preference on the project, instead profitability of the project. It suggests that well-established platform and big size of network increases the chance of success of the project due to a ripple effect and blockbuster effects. Clear communication about the project's idea and goal is highly correlated with success. Regular communication on the project site, such as by constant progress updates, helps the success of the project. Equity-based crowdfunding is emerging as an innovative means of raising capital for businesses, so it has been receiving a lot of attention and expectation from the government and the market. The findings of this paper and others will help to get some understanding and insight into equity-based crowdfunding. However, Kickstarter differs from equity-based crowdfunding in the goals of the backers. Kickstarter's backers are not investors, they are contributors. To understand equity-based crowdfunding, the subject will need further study.

• Journal of Korea Entertainment Industry Association
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• v.13 no.6
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• pp.87-94
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• 2019

South Korean films narrate exquisitely, express emotions implicitly and employ magnificent images, exemplifying unique oriental aesthetics. This paper takes Along with the Gods: The Two Worlds (2017) as an example to analyze the meaning of oriental aesthetics in South Korean films using the Film Narrative Theory. It is a fantasy blockbuster depicting family kinship stories. It structures with the familiar karma and reincarnation of Asian Buddhism with the core of family kinship. Perfectly interpreting the fantasy world of hell with stunning movie effects, it shows the family kinship of families under the main plot line of a horror film.

• Journal of Information Technology Applications and Management
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• v.31 no.3
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• pp.181-192
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• 2024

With the introduction of generative artificial intelligence(AI) tools such as OpenAI's Sora into the global film industry, including Hollywood, there has been a simultaneous emergence of innovations in film production as well as various crises. These changes are spreading throughout the entire film production process, including scriptwriting, casting, editing, and acting. This study analyzes the impact of AI on the film industry, particularly Hollywood, and explores how this technology might bring about changes in Korean cinema. AI technologies applied in the film industry offer benefits such as reducing production time and costs. However, they also pose threats to many filmmakers and actors who rely on the traditional production methods, leading to ethical and legal issues. In Hollywood blockbuster films, AI technology is used to create realistic visual effects, analyze scripts, and suggest optimal shooting angles. While these applications improve the qualitative level of films, they also reduce the human resources required in traditional film production processes. The impact on the Korean film industry is also noteworthy. Some Korean film production companies are leveraging AI to create films in a more creative and efficient manner. Efforts are being made to analyze audience data using AI and develop storylines that appeal to a larger audience. However, these technological changes are controversial among many Korean filmmakers who prefer traditional production methods. This study provides an in-depth discussion on whether the adoption of AI in the film industry can bring about positive innovation or inevitably lead to crises. It analyzes how AI technology is transforming traditional roles in the film industry and what new opportunities and challenges this change generates within the industry. Additionally. This study highlights the differences in technology adoption between Hollywood and Korean film industry and explores how each industry is embracing these technological changes.

• Asia Marketing Journal
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• v.12 no.2
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• pp.1-25
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• 2010

Motion pictures are so typical experience goods that consumers tend to look for more credible information. Hence, movie audiences consider movie viewers' reviews more important than the information provided by the film distributor. Recently many portal sites allow consumers to post their reviews and opinions so that other people check the number of consumer reviews and scores before going to the theater. There are a few previous researches studying the electronic word of mouth(eWOM) effect in the movie industry. They found that the volume of eWOM influenced the revenue of the movie significantly but the valence of eWOM did not affect it much (Liu 2006). The goal of our research is also to investigate the eWOM effects in general. But our research is different from the previous studies in several aspects. First, we study the eWOM effect in Korean movie industry. In other words, we would like to check whether we can generalize the results of the previous research across countries. The similar econometric models are applied to Korean movie data that include 746,282 consumer reviews on 439 movies. Our results show that both the valence(RATING) and the volume(LNMSG) of the eWOM influence weekly movie revenues. This result is different from the previous research findings that the volume only influences the revenue. We conjectured that the difference of self construal between Asian and American culture may explain this difference (Kitayama 1991). Asians including Koreans have more interdependent self construal than American, so that they are easily affected by other people's thought and suggestion. Hence, the valence of the eWOM affects Koreans' choice of the movie. Second, we find the critical defect of the previous eWOM models and, hence, attempt to correct it. The previous eWOM model assumes that the volume of eWOM (LNMSG) is an independent variable affecting the movie revenue (LNREV). However, the revenue can influence the volume of the eWOM. We think that treating the volume of eWOM as an independent variable a priori is too restrictive. In order to remedy this problem, we employed a simultaneous equation in which the movie revenue and the volume of the eWOM can affect each other. That is, our eWOM model assumes that the revenue (LNREV) and the volume of eWOM (LNMSG) have endogenous relationship where they influence each other. The results from this simultaneous equation model showed that the movie revenue and the eWOM volume interact each other. The movie revenue influences the eWOM volume for the entire 8 weeks. The reverse effect is more complex. Both the volume and the valence of eWOM affect the revenue in the first week, but only the volume affect the revenue for the rest of the weeks. In the first week, consumers may be curious about the movie and look for various kinds of information they can trust, so that they use the both the quantity and quality of consumer reviews. But from the second week, the quality of the eWOM only affects the movie revenue, implying that the review ratings are more important than the number of reviews. Third, our results show that the ratings by professional critics (CRATING) had negative effect to the weekly movie revenue (LNREV). Professional critics often give low ratings to the blockbuster movies that do not have much cinematic quality. Experienced audiences who watch the movie for fun do not trust the professionals' ratings and, hence, tend to go for the low-rated movies by them. In summary, applied to the Korean movie ratings data and employing a simultaneous model, our results are different from the previous eWOM studies: 1) Koreans (or Asians) care about the others' evaluation quality more than quantity, 2) The volume of eWOM is not the cause but the result of the revenue, 3) Professional reviews can give the negative effect to the movie revenue.