Kakao & Naver to Compete in Global Entertainment Content Market

Kakao & Naver to Compete in Global Entertainment Content Market

The two famous internet technology firms of the South Korea, Naver, and Kakao, are being pushed into the worldwide market which deals with the entertainment content, while working on the second phase of the content related internet market. Presently, the main entertainment management firms offer the best entertainment content services in different forms of music, online dramas, and movies. Especially, the most famous and well-known celebrities, who worked in the Hallyu (the Korean trend), make the mark in the entertainment content, catching the global attention.

With the strong potential of the platforms possessed by the Naver and Kakao, the business is getting more and more successful in the overall global market. As per the relevant industry sources, Naver declared that it is going to spend 100 billion which is of worth equal to the US $88.42 million in YG Entertainment including the direct investment of 50 billion equal to the US $44.21 million in YG Entertainment and rest of the 50 billion goes to the YG funds. Although the investment which is secured by Naver is 9.14% stake in YG entertainment firm, getting the position of second largest shareholder.

With this investment in YG entertainment firm, Naver will get the ability to acquire the secured entertainment content for its V Live plan. In actual, UG Entertainment releases the content like the online TV shows, dramas, and movies. Actors are working under the supervision of YG Entertainment for producing this content. The company will also secure a platform to divide the content, accessing the potential to step into global entertainment market.

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Kakao is already made a foothold to protect the entertainment content in 2016. The company gained the Loen Entertainment, which is the operator of the nation’s best music streaming services for 1.87 trillion equal to the US $1.65 billion in 2016. This was the part of a plan to make a synergy influence on the in-house entertainment content section by joining Kakao Talk, the state’s best mobile messenger and Melon.

This takeover of the Leon entertainment led to greater efficiency. The company has spent 1.46 trillion worth equal to the US $1.29 billion in sales and 116.1 billion equal to the US $102.65 million for operating the benefits during 2016. The sales in entertainment content reached to 221.5 billion equal to the US $195.84 million, up to the 228.7% from previous year.

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