This article was published on January 20, 2021 at 14:58 The Bell Paid PageIt is an article expressed in
The acquisition of Watpad completed the two pillars of Naver’s intellectual property rights (IP). Both Naver webtoons and Whatpad web novels, each of which have the global No. 1 titles, are the resources that Naver can use. It is also good news in terms of the imaging business, which is part of the IP business.
The Naver affiliate that holds the direction keys for creating IP-based video content is Studio N of’IP Bridge Company’. As the number of contents that can be visualized increases, the role of CEO Kwon Mi-kyung, who leads StudioN, is also expected to increase.
According to Naver on the 20th, Wattpad has 1 billion text content created by 5 million people. Of these, more than 1500 works have been produced as publications or videos, proving compatibility. Studio N’s options, which have been using Naver webtoons and web novels as sources, have been greatly expanded. There is WhatPad Studio, which has been producing videos based on WhatPad IP, but for domestic production, it is natural to go through Studio.
Studio N is focusing on the bridge between the parent company Naver Webtoon and the main production company rather than independently producing videos. Since there are so many IPs owned by Naver, the amount of work is considerable just by selecting works with a high probability of success in imaging and recruiting co-production companies. With this M&A, the amount of IP is expected to increase, and Watpad IP is also expected to be co-production.
The director of the imaging process is Kwon Mi-kyung. He was hired by Naver Webtoon CEO Kim Joon-goo, who oversees the Naver content business. Representative Kwon is in charge of the studio as the CEO and CEO Kim in the studio as the executive director. If CEO Kim intervenes throughout IP-based business, Kwon will focus on IP imaging.
Representative Kwon, a former advertiser, entered the film industry by moving to the old CJ Entertainment. After that, he experienced domestic and international film marketing at CJ E&M (currently CJ ENM) and Walt Disney Korea, and when he returned to CJ E&M, he served as the head of the Korean Film Business Division in the Film Business Division and started walking as a manager. He spent most of his career mainly in CJ affiliates.
When he was launched in the studio in 2018, he was selected as the head of the new organization. It is said that he has an eye for selecting IPs suitable for imaging as he has experienced film marketing, production, and distribution. The fact that it has an abundance of industry networks for co-productions and manpower, as well as a high understanding of the overall video content industry is another factor that received high marks.
CEO Kwon is classified as a Keyman in that Naver’s core video content partner is CJ ENM. Naver has reinforced its production and programming partnership through equity partnerships with CJ ENM (4.996%) and Studio Dragon (6.26%). Kwon’s ability to understand the IP potential of Naver and the decision-making system of CJ content affiliates matches the nature of the studio, which was created to serve as a bridge.
An official from Naver Webtoon said, “As of now, the merger of the parent company Naver and Wattpad has been decided,” he said. “An additional business plan established in Studio & Sun has not been prepared yet.”
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