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Because the hunt for the one other Squid Sport continues, we’re seeing new consolidation within the South Korean content material sphere.
Korean streaming platform Wavve has purchased KOCOWA (Korean Content material Waave), the Okay-content streamer that operates within the Americas.
The businesses have already got comparable possession constructions, with Wavve (aka Content material Wavve) owned by Korean networks KBS, MBC and SBS and SK Telecom, and KOCOWA collectively owned by the three broadcasters.
Wavve says the deal, which was confirmed immediately, “launches its world enterprise,” with KOCOWA working in 30 territories, together with the U.S., Canada, Mexico and Brazil. KOCOWA provides Korean exhibits within the Americas by means of streaming service KOCOWA+ and native OTT and cable companies.
Wavve payments itself as Korea’s largest OTT service. It has been planning worldwide enlargement since final 12 months, as CEO Lee Tae-hyun advised Deadline in 2021.
KOCOWA provides Okay-dramas, Okay-pop, Okay- actuality, and Okay-variety applications and the deal will broaden the attain of Wavve originals corresponding to Weak Hero Class 1.
Wavve stated the deal would permit it “progressively broaden its world enterprise and strengthen its strategic partnership with world media teams to facilitate joint funding in content material and develop the subscriber base.”
“We try to work with various world media companions whereas constructing a system of synergy with KOCOWA,” Lee Tae-hyun. “Though our world journey has simply begun, we purpose to develop into the perfect Okay-content platform within the world market within the close to future.”
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