In a recent “K-Wave Business Talk” with Arjuna Blanvillain, the Chief Marketing Officer at KFTV (Korean French Television), we delved into the dynamic and promising world of KFTV, a pioneering platform bringing Korean entertainment and commerce to Europe. Here’s a wrap-up of our engaging conversation.
KFTV to Spread Korean Culture in Europe
KFTV is the first platform dedicated to Korean entertainment and commerce in Europe. It starts in France and plans to expand across the continent. Originally, KFTV functioned much like Netflix, focusing exclusively on Korean content, including TV shows, dramas, movies, documentaries, interviews, and exclusive programs produced by KFTV.
However, the platform soon recognized a demand from Korean businesses eager to promote not just culture but also products and enterprises in Europe. This realization led to the incorporation of an e-commerce component. As a result, it allows viewers to purchase Korean products directly through live shows, especially during the COVID-19 pandemic when physical shops were inaccessible.
The Rising Wave of Hallyu in France
Arjuna highlighted the rapid growth of Hallyu (the Korean wave) in France over the past decade. The French media has embraced Korean culture, evident from the coverage in news outlets, radio, and even academic studies. Even more, institutions like the University of Paris Cité have conducted lectures and invited experts to analyze the K-pop and broader Hallyu phenomenon.
This growing interest is reflected in the increasing number of fan club members across Europe. From 2014 to 2022, official fan clubs have seen a substantial rise in membership, signaling a burgeoning market. With an estimated market size of €12.3 billion globally and €3 billion in Europe, Korean media content is poised for significant growth.
Media Consumption Trends
The consumption of Korean content in France has surged, particularly in cinema and dramas. Films like “Parasite,” which won the Palme d’Or at Cannes. Additionally, popular series like “Squid Game” have captivated French audiences. This trend extends to K-pop, with numerous concerts and TV shows like “Music Bank” and “Mnet” hosting events in France.
France’s central location in Western Europe is a hub for European fans. It contributes to the country’s top-three ranking in Korean dramas, movies, and music consumption. Arjuna pointed out that Korean culture is perceived as high quality, similar to other international content, which boosts its appeal.
KFTV Understands the Potential of the European Market
Despite the promising growth, Arjuna noted that Korean culture’s penetration in the French market is still relatively low compared to Asia and North America. The European business culture and media ecosystem present unique challenges that Korean companies must navigate.
To address this, KFTV offers a dual approach: content streaming and e-commerce platforms. This integrated model allows B2C consumers to purchase products featured in Korean content. Furthermore, it supports B2B clients with marketing and administrative assistance. KFTV’s partnerships with major Korean broadcasters like SBS, MBC, and CJ E&M ensure a steady stream of high-quality content.
Future Endeavors and Partnerships
KFTV aims to deepen its roots in Korea by opening a subsidiary, enhancing content production, and forging more partnerships with Korean companies. This move will help cater to the needs of Korean businesses looking to enter the French and European markets.
Supported by both government entities and private companies, KFTV is well-positioned to bridge the gap between Korean culture and French consumers. The dedicated team, led by founder and CEO Christophe Diez, combines professional and personal connections to Korea, driving the mission to bring Korean culture to Europe.
Conclusion
In short, KFTV stands at the forefront of a cultural and commercial revolution. It leverages the growing popularity of Korean culture in France to create a unique and immersive entertainment experience. With strategic expansions and innovative offerings, KFTV is going to ride the Hallyu wave and make a lasting impact on the European market.
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