WYSIWYG Acquires Video-Focused IP Developer 'Gozneok ENT' to Launch "W Content Studio Project"

[Asia Economy Reporter Hyunseok Yoo] Wysiwyg Studios (hereinafter Wysiwyg) announced on the 22nd that it will acquire the genre publishing company 'Gozneok ENT' (hereinafter Gozneok). Starting with this acquisition, the 'W Content Studio' project, which integrates original IP companies and production companies promoted by Wysiwyg, is expected to be in full swing.

Gozneok is a publishing company specializing in various genre novels based on its own brands such as K-Thriller, K-Faction, and K-Romance. In particular, it is well known for its unique system where a dedicated producer works with each author from the early stages of production, keeping in mind secondary content production such as webtoon and video adaptations.

Its representative work includes 'The Trial of Cheonggyesan Jang,' which is the first Korean novel to be promoted for TV series production in Hollywood, USA. Based on excellent intellectual property (IP), Gozneok has signed secondary rights contracts for about 30% of its works with domestic and overseas production companies, receiving love calls from numerous content providers (CPs).

Prior to this acquisition decision, Wysiwyg made an equity investment in January to secure high-quality IP. The company explained that as the importance of excellent IP has recently increased, adding Gozneok's IP production system along with additional IP acquisition would create significant synergy between the two companies.

A Wysiwyg official said, "This acquisition is not simply for additional IP acquisition, but a process to accelerate the currently promoted 'W Content Studio (tentative name)' project," adding, "W Content Studio is a model where excellent IP holders like Gozneok and media content production companies such as film, drama, and entertainment circulate the entire process from IP production to secondary production within their own studio."

He continued, "Previously, large production companies simply purchased IP to produce secondary content, but 'W Content Studio' enables customized production centered on IP," adding, "This is overwhelmingly advantageous compared to competitors in terms of reducing production time and costs, which will lead to an increase in the number of productions and sales."

A Wysiwyg strategic planning office official explained, "The lineup of production companies participating in W Content Studio has been somewhat decided," and added, "Starting with the recently acquired Gozneok, the acquisition of additional high-quality IP holders is expected to be completed as early as the first half of the year."

This content was produced with the assistance of AI translation services.