[Edaily Starin YUN GI BACK Reporter] Criticism is growing that the voluntary “holdback” agreement—which requires a 150-day wait before theatrical releases can be made available on subscription-based online video services (OTT)—is out of touch with market realities. This is because films that have lost their box office momentum in theaters are moving to OTT platforms in as little as three weeks to reach new audiences, while global studios are also flexibly applying holdback periods based on each film’s box office performance and distribution strategy. Calls for a more flexible approach—rather than a one-size-fits-all “150 days for all films” standard—are gaining traction.

◇21 Days Brings a New Revenue Stream… 150 Days Creates a “Gap”
According to the film industry on the 28th, “Bikwang,” starring Ryu Seung-ryong and Ha Ji-won, was released on Wavve on the 23rd—21 days after its theatrical debut on the 2nd. Although cumulative attendance had reached only 102,921 viewers just before its OTT release, the film climbed to the No. 1 spot on Wavve’s “Movie of the Day” list after moving to the platform, driven by viewing demand during the Chuseok holiday. This case illustrates the argument made by the production and distribution industries that the sooner a film’s theatrical run ends, the more necessary it is to move it to the secondary market while public interest is still high in order to secure additional revenue.
Currently, the draft voluntary agreement that the Ministry of Culture, Sports and Tourism has been discussing with the industry sets the default release window for Korean films shown in domestic theaters to be 150 days before their subscription VOD (SVOD) release. The draft also includes an exception clause reducing this period to 100 days if an OTT platform invests more than 40% of the film’s production budget prior to release or purchases distribution rights for an equivalent amount, while independent and art films are excluded. However, due to disagreements within the industry, the signing of the agreement—originally scheduled for August—has been postponed.
The key point of contention is whether viewers must wait five months even for films that have effectively finished their theatrical runs. Given that the theatrical lifespan of some films lasts only a few weeks, applying a blanket 150-day rule could create a “distribution gap” during which the film is unavailable both in theaters and on subscription-based OTT platforms. From the perspective of production and distribution companies, this also delays the recovery of their investment. In particular, for small- and medium-sized films that fail at the box office, the sale of OTT distribution rights can be a key means of recouping losses.

◇Efforts to Save Theaters Could Hinder Film Investment
Much shorter and more varied holdback periods have already become the norm in the market. This year, *HUMINT* moved to Netflix 49 days after its theatrical release, and *Wild Thing* did so after 58 days. *Even If This Love Disappears from the World Tonight*, which opened last December, was also released on OTT after 66 days.
The Netflix film “Possible Love” will also be released on Netflix on November 6—44 days after its theatrical debut on the 23rd. Although the business models differ, this is an example of using theaters and OTT platforms as sequential distribution channels.
Overseas, there are also significant differences depending on the film. The Pixar animation “Elio” was released on Disney+ about three months after its domestic theatrical release, while “Zootopia 2,” which drew 8.61 million viewers in Korea, was released on Disney+ after about 105 days. Although foreign films are not subject to the voluntary agreement, these serve as comparative examples showing that global studios adjust holdback periods based on box office performance and platform strategy.
Of course, the need for holdbacks themselves has not disappeared. This is because if OTT releases immediately following a theatrical premiere become commonplace, audiences may be less likely to go to the theater. The issue is “how long to make them wait.” If films—which differ in box office performance, production costs, run times, and whether they received OTT investment—are all subject to a single, uniform holdback period, this could make it difficult for production and distribution companies to recoup their profits—rather than protecting theaters—and could even reduce their capacity for future investments.
A film industry official stated, “While I agree on the necessity of a holdback period, applying the same standard to all films is a separate issue,” adding, “Since this could lead to revenue losses for production and distribution companies and restrict audience choice, it is important to reach an effective agreement by thoroughly coordinating the interests of all parties involved, rather than imposing a one-size-fits-all timeframe.”