KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
No Result
View All Result
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Entertainment

Wavve Boosts Its K-content Portfolio Amid Heightening Competition

 1,098 total views,  1 views today

KoreaTechToday Editor by KoreaTechToday Editor
PUBLISHED: March 29, 2021 UPDATED: April 1, 2021
in Entertainment, Kpop
0
Streaming platform Wavve announced it would invest in expanding its original K-content portfolio to strengthen its edge amid the intensifying market competition.
Streaming platform Wavve announced it would invest in expanding its original K-content portfolio to strengthen its edge amid the intensifying market competition.

Streaming platform Wavve announced it would invest in expanding its original K-content portfolio to strengthen its edge amid the intensifying market competition.

Content Wavve Corp., a major South Korean streaming platform operator, announced it would invest 998 billion won ($882 million) for original content expansion. Established in 2019, Wavve is a joint venture between SK Telecom and three leading local broadcasting companies: KBS, MBC, and SBS. As Wavve stated, it invested in original content expansion to strengthen its foothold in the growing domestic and foreign competition.

Original Content Expansion

Currently, Wavve is steadily carrying out strategies to increase its global activities and reinforce its competitive edge in the industry. Wavve would establish an original content production studio under its latest investment plan during this year’s first half. In addition to securing backing for the studio, the streaming services provider would also appoint a new Chief Content Officer. Wavve has also recently established the Content Strategy Division to upgrade its original content production and portfolio growth. Moreover, SK Telecom, Wavve’s biggest shareholder, would provide an additional investment worth 99.2 billion won ($88 million) to support Wavve’s business buildup.

Since its launch, Wavve had been investing in creating original content, such as the web series “SF8,” “The Tale of Nokdu,” and “Zombie Detective.” As part of its initial content expansion, Wavve would also provide a backing worth over 78.9 billion won ($70 million) for drama production.

Some of the series Wavve would produce include “Going to the Blue House,” “Bossam: Steal the Fate,” and “Taxi Driver.” Wavve also plans to release its broadcasting partners’ materials and continuously seek collaboration deals with other content creators.

Growing Competition Amid the K-content Industry

“Through the original content investment, we plan to expand partnerships with broadcasters, production companies, and IP holder companies,” said Lee Tae-Hyun, Content Wavve’s CEO. Besides forming partnerships, Lee revealed that Wavve’s investment also strives to discover competitive small and medium-sized production companies. Lee also added that Wavve would take the lead in cultivating the growing K-content and K-OTT platform ecosystem.

Recently, local and foreign entertainment providers have been investing in original content expansion, intensifying the competition within the K-content industry. This month, KT enhanced its content production through KT Studio Genie, planning to release over 100 original dramas by 2023. Similarly, Kakao Entertainment and SK Broadband partnered to promote KakaoTV’s original releases to BTV, an IPTV service operator.

On the other hand, Netflix announced this year that it would allot $485 million specifically for K-content projects. Disney+, Walt Disney’s streaming network, would also enter the South Korean market this year.

Based on data from IGAWorks, a mobile analytics firm, Wavve had over 3.9 million monthly subscribers in February. Furthermore, TVing, a local video-streaming provider, had 2.6 million monthly users while Netflix had 10 million.

Check out other must-read articles from KoreaTechToday:

  • KT Studio Genie Boosts Media Content, Releasing 100 Shows by 2023
  • LG Channels Expands K-Content to Smart TV Streaming Services
  • Kakao Entertainment’s K-pop music Returns to Spotify’s Streaming Service
  • Kakao M and Kakao Page Signs Merger to Create Kakao Entertainment
What’s your thoughts?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
Tags: K-ContentSK Telecomstreaming platformWavve

Related Posts

Spotify free for LG U+ customers for six months
Streaming platform Wavve announced it would invest in expanding its original K-content portfolio to strengthen its edge amid the intensifying market competition.
Entertainment

Spotify free for LG U+ customers for six months

August 11, 2021
LG Electronics to expand its streaming service – LG Channels on smart TVs 
Streaming platform Wavve announced it would invest in expanding its original K-content portfolio to strengthen its edge amid the intensifying market competition.
Entertainment

LG Electronics to expand its streaming service – LG Channels on smart TVs 

August 11, 2021
Netmarble acquires Hong Kong’s mobile casino games company SpinX Games
Streaming platform Wavve announced it would invest in expanding its original K-content portfolio to strengthen its edge amid the intensifying market competition.
Entertainment

Netmarble acquires Hong Kong’s mobile casino games company SpinX Games

August 9, 2021
Daum Webtoon rebrands as Kakao Webtoon, sharing its goal to offer the industry’s most innovative user interface and user experience. photo shows Kakao Webtoon's official model IU. / photo taken from Kakao Webtoon's official teaser video on YouTube.
Streaming platform Wavve announced it would invest in expanding its original K-content portfolio to strengthen its edge amid the intensifying market competition.
Entertainment

Daum Rebrands As Kakao Webtoon Amid Soaring Competition

July 29, 2021
Samsung and CJ ENM take entertainment content creation to the next level, providing innovations for the fast-growing virtual production sector.
Streaming platform Wavve announced it would invest in expanding its original K-content portfolio to strengthen its edge amid the intensifying market competition.
Entertainment

Samsung, CJ ENM to Lead Global Virtual Production Scene

July 28, 2021
South Korea’s fast-growing, interactive metaverse market introduces more platforms, penetrating various sectors with its multifaceted offers and features. / photo of courtesy of Roblox
Streaming platform Wavve announced it would invest in expanding its original K-content portfolio to strengthen its edge amid the intensifying market competition.
Entertainment

Korea’s Expanding Interactive Metaverse Scene Offers Diverse Options

July 28, 2021
No Result
View All Result

Follow Us

FREE NEWSLETTER




PRODUCTS

Most Popular

  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Top South Korean Tech Products to Look Out for in 2021

    0 shares
    Share 0 Tweet 0
  • Robots to help Police Patrol in South Korea

    0 shares
    Share 0 Tweet 0
  • South Korea plans Urban Air Mobility Air Taxi services by 2025

    0 shares
    Share 0 Tweet 0
  • 5 All-Time Best Rom-Com K-Dramas to Watch

    0 shares
    Share 0 Tweet 0
  • SK On to introduce South Korea’s first LFP Battery Prototype

    0 shares
    Share 0 Tweet 0
  • Outsourcing by Samsung to China Feared by Phone Parts Suppliers

    0 shares
    Share 0 Tweet 0
  • KT Continues to Accelerate Its ‘Digico’ Transformation

    0 shares
    Share 0 Tweet 0
  • Top Eight Promising EdTech Startup Companies in South Korea

    0 shares
    Share 0 Tweet 0
  • South Korea to commercialize Quantum Cryptography Communications

    0 shares
    Share 0 Tweet 0
  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Newsletter
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |