10 billion investment monopoly Content 'Chosun Rocco - Mungdujeon' 30th day Explosion By 2023, more than 100 billion won will be invested in Content to secure subscribers
The online video service (ott) wave, which will be officially launched on the 18th, will be a native Content such as the second Running Man, and will win the ott market, where competition among large global operators such as Netflix and Disney is intensifying. As the Content competitiveness is recognized as 'Korean wave', it is judged that its own production Content has sufficient market competitiveness
“We are investing in creating killer Content by attracting all of our SBS assets in the second half of the year and after September,” said Park Jung-hoon, president of SBS, a Content wave shareholder. “We will make efforts to get a second Running Man or a second hourglass,” he said.
Content wave plans to invest 100 billion won by 2023, when it receives 200 billion won in investment expenses for Content production from financial investors.
The Content will be opened on the 30th as 'Chosun Rocco - Mungdujeon', which will be aired on KBS2. The work has invested about 10 billion won in total production cost. The drama is broadcast in real time through KBS2, and the ott monopoly supply right has wave.
The amount of Content investment will gradually increase to 50 billion won next year, 60 billion won in 2021, 80 billion won in 2022, and 100 billion won in 2023.
“Content investment is dangerous in that it is not guaranteed to be successful,” said Lee Tae-hyun, CEO of Content wave. “So we invest all of our production costs in the early days, but some public relations companies are doing the same on real-time channels of broadcasters and we believe that wave’s own original investment is possible if subscribers increase in the future.”
Currently, the investment cost of 200 billion won will be concentrated on dramas and entertainment works of three broadcasting companies, which are shareholders, but if they secure their own financial power, they will be able to find various genres with various Content producers.
In addition to its own Content, wave has also released 1000 additional movies as weapons. wave monthly subscription subscribers can enjoy more than 1,000 movies and popular overseas series that continue to be added without additional cost. Among them, three mids such as Manifest, Siren, and Dub First are the first works released by wave in Korea.
“We already had to see about 30 mini-series of broadcasting companies, Weekend dramas, Weekend entertainment, and weekday entertainment, but we put 1,000 movies in monthly amounts,” Lee said. “This was a huge adventure.”
He also mentioned plans for wave overseas, starting with Southeast Asia. However, in the Southeast Asian market, where gross domestic product (GDP) is low, it is difficult to lead to substantial sales growth, so the goal is to expand into a market that can expand sales such as the United States.
“We will first allow domestic users to use their waves when traveling abroad, and then test them for local residents to collect data on what Content is consumed,” Lee said. “We will then make full-scale local advancements by providing a local language user environment (UI).
“In the case of overseas expansion, Netflix may be a direct entry or a partnership, as it has been in the domestic market, but I think there is no reason to disagree with (global operators),” he said, suggesting that there is a possibility of collaboration.