Korea’s most prolific production studios have maintained hit rates and delivered impactful co-productions across Asia, even as domestic drama output contracts under rising production costs, according to new research from Media Partners Asia & ampd.

Korean content remains a major engagement driver across premium VOD streaming services in Asia. In Q2 2025, Korean content accounted for 35% of total premium VOD viewership in Southeast Asia, 86% in Korea, and 5% in Japan.
 
SHRINKING K-DRAMA SUPPLY The Korean Drama Production Association reports that the number of domestically produced dramas peaked at 141 titles in 2022, before dropping to 107 titles in 2024. The figure is expected to moderate further in 2025 as broadcasters and studios adjust strategies amid escalating costs. The average production cost per episode now ranges from KRW1 billion-KRW3 billion/US$717,500-US$2.2 million, creating barriers to sustaining high-volume pipelines.

This contraction has already reshaped market dynamics. 

CJ ENM (including subsidiary studios such as Studio Dragon) remains the most prolific player, contributing 19 of the top 100 Korean titles in Korea in Q2 2025, a decline from 26 the previous year. JTBC saw its share of the top 100 fall from 17 to just 6 titles. The downturn reflects an industry-wide recalibration, where fewer titles are produced, but expectations for each to deliver global resonance are higher.

CO-PRODUCTIONS AS A GROWTH LEVER As domestic pipelines slow, Korean studios, particularly CJ, are rebalancing by seeking out lower-cost, higher-impact opportunities abroad through cross-border co-productions. This strategy has delivered some of the region’s most visible July hits. These include Hatsukoi DOGs (TBS/Studio Dragon), Marry My Husband (CJ ENM, Jayuro Pictures, Shochiku), Bad Guys (Base Entertainment, CJ ENM) and Happiness Thailand (True CJ Creations). 

These titles and their performance illustrate how Korean companies are evolving from exporters of finished IP to active co-creators, securing upside across multiple territories while mitigating the risks of high domestic budgets.

CULTURAL IMPACT & LOOKING AHEAD Notably, one of the top titles across multiple Asian markets in July was Netflix’s Sony-produced animated feature K-pop Demon Hunters. The film is an American production, but its popularity underscores how Korean-origin cultural phenomena like K-pop now inspire global storytelling well beyond Korea’s borders.

Korea’s content and cultural prowess remain highly visible across Asia’s premium VOD ecosystem. The July data paints a picture of an industry in transition: fewer dramas at home, but a sustained ability to generate regional and global hits through smart partnerships and cultural leverage. As domestic costs rise, co-productions in Japan, Thailand, and Indonesia provide Korean studios with cost-effective avenues to sustain output, extend influence, and embed their storytelling DNA across Asia’s streaming landscape. 

Media Partners Asia (MPA), established in 2001, is a leading independent provider of advisory, consulting and research services, focusing on media and telecoms in Asia Pacific. MPA also operates ampd, launched in 2019, which measures digital activity across 12 markets using proprietary software, with detailed insights to drive planning and business outcomes. Across the 12 markets in which we operate, ampd leverages passively measured panel members with two SaaS-based products – ampd Vision and ampd Pulse – while providing customized research to clients across streaming VOD, content, advertising, telecoms, and more. Our clients include leading global internet and technology brands, Hollywood and Asian content studios, advertising agencies, telcos, and pay-TV operators. ampd won the Best International Video Media Research Award at the 2023 UK Mediatel Media Research Awards, which recognises organisations driving innovation in research.

▶ Published in ContentAsia September 2025 Magazine