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Jang Byung-gyu hooked on short-form dramas, building a Netflix-level platform
Krafton Chairman Chang Byung-gyu has set his sights on 'short-form dramas' as the next big thing. The goal is to create a Netflix-level platform through large-scale investments. It is known that Chairman Chang Byung-gyu's strong will was heavily reflected in this investment.
Krafton (CEO Kim Chang-han) announced on the 11th that it will make a KRW 120 billion equity investment in SpoonLabs (CEO Choi Hyuk-jae), a global short-form drama platform company. This investment is the largest non-related diversification investment Krafton has made so far.
SpoonLabs is a company that develops and services the audio platform Spoon worldwide. Recently, it has expanded its business area and entered the short-form drama platform business, launching a dedicated platform called 'Vigloo'. Vigloo is an online video service (OTT) specializing in short-form drama content of about 2 minutes. Like existing global OTT companies, it has content curation functions tailored to the characteristics of various countries, and supports 7 languages, including ▲Korean ▲English ▲Japanese ▲Chinese (Traditional) ▲Spanish ▲Thai ▲Indonesian.
Krafton highly valued SpoonLabs' stable platform technology and global service success experience. In addition, it decided to invest, paying attention to the growth potential of the short-form drama market, securing new intellectual property (IP) sources, and synergy with existing businesses.
Currently, the short-form drama market is showing rapid growth in major countries on each continent, including the Chinese market, which is worth KRW 7 trillion. Based on this growth potential, Krafton predicted that domestic content to be presented by Vigloo in the future has the potential to continue the Korean Wave craze in the existing drama market in the short-form market as well.
Kim Chang-han, CEO of Krafton, said, "SpoonLabs is a company that has already proven its solid overseas business capabilities through Spoon over the past several years," and added, "We hope that it will discover entertainment that people around the world can enjoy together in the short-form drama platform business that it has entered this time, and also create an industrial ecosystem."
Choi Hyuk-jae, CEO of SpoonLabs, said, "Starting in the audio field and expanding our business to the video field, we are rapidly strengthening our position as a global content platform company," and added, "SpoonLabs is planning to enter the US and Japanese markets in the future, and will work with Krafton to create new international standards in the short-form drama field."
Meanwhile, SpoonLabs has collaborated with a number of production companies to exclusively release 60 contents on Vigloo to date, and plans to present a total of about 120 by the end of the year. In addition, starting this month, it plans to 본격화할 to 본격화할 marketing activities targeting Japan and the United States along with the release of Japanese original content.
웹진 인벤이두현 기자
2024-09-11