How the 'Parasite' Oscar Win May Change the Global Film Business | THR News - video Dailymotion

As Bong Joon Ho's South Korean satire becomes the first non-English-language best picture, others see opportunity to "jump on the bandwagon."

Transcript

00:00After Parasite dominated the Oscars and became the first non-English language film to ever win

00:11Best Picture, the movie's success could be a game changer for the global film business.

00:15Now, international filmmakers and distributors are eyeing director Bong Joon-ho's triumphs with

00:20the hope that Parasite's success will open the door to global cinema, giving other non-English

00:24language movies shots at the world's No. 1 film award and big box office returns.

00:29Korean media mogul Mikey Lee, whose CJ Entertainment backed Bong's film, says,

00:34"...it's been a real barrier. Now Parasite really makes it easier. Netflix has trained everybody

00:39to watch subtitles in their living room, and now Parasite is in the movie theater."

00:42Netflix, which backed Bong's film Okja, was the first major U.S. studio to fully embrace

00:47international content. And according to Alex Walton, head of international film sales at Endeavor Content,

00:52getting audiences to watch subtitles 10 years ago was a massive challenge. Now it's becoming

00:57more and more common. He also noted that Parasite has opened more doors for exhibitors, helping

01:01them believe they actually can find an audience with these films.

01:12Audiences have embraced Parasite as it unspooled globally since debuting in Korea back on May 30th.

01:17Made for about $11 million, it has grossed some $170 million worldwide, a figure certain to surge

01:24in the wake of Bong's Oscar haul. Its domestic performance of $35 million and counting for

01:29the indie banner Neon, which picked up the film in October 2018, makes it the most successful

01:33Korean film of all time in the U.S.

01:38For much more on this story, head to THR.com. Until next time, for The Hollywood Reporter News,

01:43I'm Tiffany Taylor.