International Broadcasting Video Market Evolves into Global Co-Production Hub... U.S. Platform Rakuten Viki Takes First Step with “Dive into You” [BCWW 2026]

[Financial News] The International Broadcasting Video Market, once a place for buying and selling completed content, is evolving into a global business hub that explores various forms of cooperation, including joint planning and production, format localization, platform distribution, and IP commercialization. At this year’s 26th International Broadcasting Video Market (BCWW), the drama “Dive into You,” jointly created by global entertainment platform Rakuten Viki and Korean production company DEXTER PICTURES, was introduced as a representative example of this shift.

Hong Jae Hee, chief content officer (CCO) of Rakuten Viki and head of its Korea office, presented the platform’s content consumption trends and strategy for expanding co-productions at the “BCWW 2026” conference held at COEX Convention & Exhibition Center in Seoul on the 15th. The session was titled “A New Growth Engine for K-Dramas: Rakuten Viki and Production Companies’ Collaboration Model, ‘Dive into You.’”
Rakuten Viki offers more than 2,500 Asian titles in over 190 countries and regions worldwide. Its key distinction is that it has grown beyond simply broadcasting content overseas, building a community where fans actively participate, communicate, and grow around the content. In particular, it operates a participatory community in which fans create subtitles in more than 150 languages and share their reactions through reviews.
Hong said, “Rakuten Viki now wants to work with its partners in more diverse ways, rather than simply acquiring and distributing content.” He added, “Depending on the scale and nature of each project, we will try various collaboration models, including pre-commissioning, co-production, production investment, and joint projects with the Korea Creative Content Agency.” Pre-commissioning refers to a model in which a broadcaster or OTT service commissions a production in advance or pre-purchases its broadcasting rights before the work is completed, contributing the payment to production costs.
The MBN drama “My Boss’ Explicit Taste,” scheduled to air in November, is an example of collaboration that began during the development of the original work, through discussions with production companies Artist Studio and GODIN MEDIA. Hong explained, “We collaborated so that Rakuten Viki’s licensing fee could be used to cover part of the production costs.”

“Dive into You,” set to be released on Disney+, Rakuten Viki, and Channel A on the 26th, is a Korea-U.S.-Japan global project jointly produced by South Korea’s DEXTER PICTURES and Amuse Korea Inc., the Korean subsidiary of Japanese comprehensive entertainment company AMUSE INC. Rakuten Viki invested in and participated in the production.
Hong explained, “This is Rakuten Viki’s first project in which it directly invested in and participated in the production of a K-drama.” He added, “We committed to investing at the early stage of the project and joined the co-production. We handled every stage of production and distribution jointly with the production company.”
The project holds significance for DEXTER PICTURES beyond being simply a new drama. It is the company’s first drama that it planned and developed itself, thereby securing ownership of the original IP.
Kim Dong-hyun, CEO of DEXTER PICTURES, said, “For us as an independent production company, ‘Dive into You’ is our first title to remain as a genuine IP asset, going beyond the result of a single production.”
This collaboration structure is particularly meaningful as South Korea’s drama production market contracts. It allowed the production company to retain ownership of the IP and production independence, rather than remaining merely a production subcontractor or selling rights, while securing production funding early through the strategic participation of a global partner. A stable production environment provided the foundation for improving the quality of the work.
The project also secured opportunities beyond its initial release. DEXTER PICTURES holds the rights to remakes and future seasons, as well as major ancillary rights, including the OST, publishing, merchandise, and pop-up exhibitions. This will allow the company to generate continuing revenue and expand the IP after the work is released.
Kim of DEXTER PICTURES said, “‘Dive into You’ is a highly meaningful project because partners from South Korea, the United States, and Japan explored the project’s potential for success and enabled us to present a new collaboration model for bringing an original Korean IP to the global market.” He added, “In a domestic production market that has contracted, I am pleased that we were able to introduce here a ‘strategic co-growth model’ in which global partners build the value of an IP together from the planning stage, moving beyond simple production subcontracting or one-off rights distribution.”

Rakuten Viki is also carrying out a joint co-production support program with the Korea Creative Content Agency (KOCCA) to help smaller production companies and creators expand overseas.
Hong said, “By combining public institutions’ production support with Rakuten Viki’s global platform distribution capabilities, we want to serve as a stepping stone that enables smaller Korean production companies and creators to take on the global market with greater stability.”
He said, “We keenly recognize that the K-content creators and producers who have thrilled countless viewers around the world are now facing an extremely difficult production environment.” He added, “Even so, we still believe in the power of K-dramas to thrill viewers worldwide once again.”

[email protected] Shin Jin-ah Reporter