Group

6presents

Show Business
and Show business in Korea
 Show Business
Show business or show biz, formally know
as entertainment industry

$150 billion in expenditures and 120 billion

hours of consumed time only in the US
each year

consists of diverse products and services

 Entertainment as
an industry
Increased Income
Increased Income
The
Thegrowth
growthof
of
entertainment
entertainment
as
asan
anindustry
industry
Time available
Time available
for leisure
for leisure
 Show Business Overview
Creative products are a major U.S. export

One of the largest and fastest-growing economic sectors

Characters and other elements from the movie can be

developed into a line of toys and clothing

In the motion-picture industry, worldwide box-office

revenue was over $23 billion for 2005

The music industry consists primarily of the sales of

prerecorded music in traditional and alternate digital
formats
Characteristics of Show
Business
1. Neither producers nor consumers know the demand for product until
after it is revealed

2. The creative talents producing the product care about the creative
output explicitly

3. Entertainment product is unique and must be experienced before

demand is known

4. Products are vertically differentiated by the quality of the inputs used in

production

5. Profitability depends on temporal coordination and prompt realization

of revenues
 Show Business in South
Korea
The size jumped from $8.5 billion in 1999 to $43.5 billion in
2003
Has leaded to the Korean wave which achieves over one
billion dollars in revenue annually for South Korea through
cultural exports
A powerful force throughout Eastern Asia and other
countries
 Korean drama industry
Has carved a niche for itself in many parts of the
world, including Japan, China, Thailand, Philippines
and the United States of America

Korean actors have created and established their

unique space in the hearts of the people across the
world

Uplift the Korean entertainment industry

 Korean Pop Music
Industry
A large part of the Korean Wave

Having diversity through collaborating with international

producers

Being heavily manufactured and an containing

underlying dependence on idols

The entertainment companies are aggressively steering their

efforts to go international via the Internet

 Average annual income
Lower than office workers’ income

TV actors, singers, models and other entertainers, have an

average annual income of KRW$28.5 million

TV actors have a higher income than singers and models

Singers’ average annual income was only KRW$26 million

Models’ average annual income was only KRW$11 million

Become celebrities in Korea
Start training in pre-teens or teens

Follow an extremely rigorous schedule

The management company spends about two million

dollars for each talented

Suffer from a lot of pressure

More and more Korean celebrities take their own lives

 Thank you
for listening
Library Research:
Group 6 Wikipedia
Thoại Lam Minh Phúc Encyclopedia.com
Vĩ Kiệt Vũ Lâm The Rising Korean Entertainment
Ngọc Diễm Thiên Ân Industry by Jai Prakash Srivastava