CEO Won Sun-woo: "We’re Entering an Era of Production Budgets in the Tens of Billions… Data Can Help Reduce Risks" [Interview]
Interview with Won Sun-woo, CEO of Good Data Corporation
Creating 'Fundex' to Gauge the Scale of Public Interest
Quantifying and Disclosing Subjective Criteria
"It is possible to analyze the genres and roles that directors, writers, and actors excel at"
[Edaily Starin Reporter Gim Ga Yeong ] "We’ve entered an era where the production costs for a single drama can reach tens of billions of won. As the risks associated with box office failure have grown, we must prepare productions more carefully and thoroughly—and by leveraging ‘data,’ we can mitigate those risks." Interview with Won Sun-woo, CEO of Good Data Corporation (Photo: Reporter Lee Young-hoon)In arecentinterviewwith E-Daily, Won Sun-woo,CEOofGood Data Corporation, emphasized the importance of “data” in the K-content market, stating, “Through accumulated data, we can identify viewers’ preferences and also pinpoint the limitations and areas for improvement among the production staff and actors involved in a project.” Good Data Corporation developed “FUN+INDEX,” an indicator that allows for at-a-glance analysis of a drama’s entertainment value, to gauge its buzz. It created 20 categories by dividing the level of buzz into four tiers (S, M, L, XL) and the intensity of entertainment value into five tiers (-2 to +2). For example, works such as JTBC’s “SKY Castle,” SBS’s “Penthouse,” and MBC’s “The Red Sleeve,” which recorded high buzz levels and maintained an upward trend until their finales, achieved the highest buzz level of XL+2. Good Data Corporation does not stop at simply collecting data; it uses this data to predict which works will be commercially successful. By analyzing highly talked-about works, the company proposes types of titles with high potential for success and suggests drama structures. CEO Won pointed out, “Based on our analysis of K-content to date, works in which various characters took turns generating buzz have been commercially successful.” He added, “This means that works where the spotlight isn’t solely on the lead but where supporting characters also shine have received a positive response from viewers. If productions are created with these results in mind, they can minimize risks.” The company is also compiling data on the genres in which each production company, director, writer, and actor has previously succeeded, as well as the audience reactions they received, to analyze box office projections for each new project. Data—such as the analysis that Director A has shown strength in action films but failed at the box office with dramas; that Actor B succeeded as a supporting actor but failed as a lead; and that Actor C achieved box office success when portraying certain professions—can also serve as a reference for utilizing production teams and actors. CEO Won stated, “In the past, box office success was often predicted based on the ‘gut feeling’ of creators or the ‘star power’ of actors, but such predictions lack accuracy.” He added, “As the K-content market has grown, producing works based on subjective judgment carries significant risk, so we must reduce the likelihood of failure. We need to analyze the genres and roles in which directors, writers, and actors excel and place them in the right roles at the right time.” Good Data Corporation surveys and publishes weekly reports on the buzz surrounding programs aired on TV and those released via online video services (OTT). The company produces its results by combining quantitative evaluations—such as news coverage, reactions on online communities and social media (SNS), and the number of clips and views on video platforms—with qualitative evaluations that collect and filter these responses. It is gaining attention as a company that quantifies and publishes metrics for “buzz” and “entertainment value”—judgments that were previously considered subjective—in a content market that used to be evaluated solely by viewership ratings. CEO Won stated, “As someone who loves content, I found it regrettable that good content was undervalued and canceled prematurely simply because of low viewership ratings, so I began researching buzz.” He added, “With the rise of OTT services and the growing influence of online reactions, it has become difficult to judge a work’s success based on viewership ratings alone; I hope the Buzz Index will help assess the value of content.” CEO Won, who has been analyzing and quantifying content data since Good Data Corporation’s founding in 2013, also offered advice on the K-content market, where competition has intensified with the rise of OTT platforms. “When analyzing content, it becomes clear that you ultimately need a diverse range of genres to generate buzz,” he said. “Rather than releasing similar genres just to compete with OTT platforms, TV channels should engage in healthy competition by showcasing a variety of genres and competitive productions that are true to their nature.”
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