Escape from the mobile market that has become a red ocean
Diversification as a digital platform company
Collaboration with the production company through’Studio Genie’
Focus on creating original content
Emphasis on “KT Specialty in Media Business”, CEO of Koo
“We will create infinite value by converging KT Group’s capabilities through media content.”
KT announced a change from a telecommunications company to a digital platform company by discovering the source IP (intellectual property rights) that is the basis of media contents. It is a strategy to get out of the mobile communication market, which is the red ocean, and start to produce original contents in earnest based on the content value chain that focuses on the group’s capabilities.
On the 23rd, KT CEO Sue Sang-mo said, “With big data analysis capabilities, we will invest as a pinpoint in content with high potential for box office. We will create the KT’ ecosystem.”
As a part of strengthening KT’s media content capabilities, KT Studio Genie will come to the fore.
Koo’s plan is to make KT Studio Genie, which directly produces contents such as drama and movie entertainment, into a new unicorn of K contents.
First of all, the KT media content value chain, which enables one-stop discovery, development, and distribution of IP, will move.
KT Studio Genie produces competitive contents such as dramas, movies, and entertainment by using the source IP assets possessed by StoryWiz.
Since then, Skytive distributes copyrights on KT Group platforms such as Olleh TV and Skylife, as well as real-time channels, and is expected to create added value of content through Genie Music. A virtuous cycle structure in which contents can be produced stably and reinvested in contents is achieved within KT Group.
Kim Cheol-yeon, co-president of KT Studio Genie, emphasized that “KT is a company that provides an environment in which creators can focus solely on creation in the content industry where it is difficult to determine the success or failure of the content industry, and can stably run the content business.”
KT Studio Genie plans to build a content library with over 1000 source IPs and over 100 drama IPs by the end of 2023. In particular, CEO Koo was convinced of the production of 100 original contents and the investment scale of up to 50 billion won.
KT’s reinforcement of the media content business division is interpreted to be to take a leap forward as a digital platform out of the mobile communication market that has become a red ocean.
Currently, the global media market is being reorganized to focus on providers with original content production capabilities as the boundaries between content providers and pay-TV providers are collapsing. In addition, there is a sense of crisis that the native OTT (online video service) will lose its presence in the market if it lands in Korea, including Netflix, which has 10 million domestic users, and Disney Plus sooner or later.
CEO Koo said, “I am confident that the media is the most important axis that leads to changes in the lives of customers, and that KT is a business area where KT can do better than anyone else. I will add acceleration to it.”
Reporter Kim Gun-ho [email protected]
[ⓒ 세계일보 & Segye.com, 무단전재 및 재배포 금지]