Comprehensive Content Studio Playlist Secures 14.2 Billion Won Investment
Altos Ventures Participation... Drama Success Continues
Focus on Membership Services and Japan Business in First Half
Comprehensive content studio Playlist (CEO Park Tae-won) announced on the 31st that it has secured an investment of 14.2 billion KRW. This investment involved Altos Ventures and Hana Securities Club1 WM Center. The investors highly evaluated Playlist's production capabilities, creators, and the influence of its digital channels with over 11 million cumulative subscribers.
Last year, Playlist gained attention by successfully launching 'Weak Hero Class 1' and Korea's first shorts drama 'Convenience Store Expert'. The company is home to creators who produced hit dramas such as Head of Production Division 1 Yoon Hyun-ki, who worked on 'Crash Landing on You', and Head of Production Division 2 Lee Mina, who produced 'Itaewon Class' and 'Age of Youth'. Recently, it has been expanding not only in dramas but also into music and entertainment content areas.
Park Hee-eun, partner at Altos Ventures, said, "Playlist established itself early as a first mover by building innovative and diverse content production capabilities," adding, "We found it attractive that they are expanding their market to Japan, where the K-content wave is strongly rising, laying the foundation for global expansion, which led us to decide on this follow-up investment."
Playlist plans to use the secured investment funds for business expansion and operating capital. This year, they intend to increase new businesses such as launching a membership service and music-related ventures. They will also accelerate their entry into the Japanese market. They will introduce Wave original 'Transaction' and 'Play, Pli', which is scheduled as a Hulu original on the Japanese streaming service Hulu.
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Park Tae-won, CEO of Playlist, said, "Playlist has grown by proactively responding to changes in viewer and platform consumption behaviors," and added, "With this investment, we have been recognized for our outstanding production capabilities and future potential, and we will achieve a quantum leap in the company's overall capabilities."
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