Sisa Week = Reporter Song Ga-young Smilegate is also starting to expand IP in the domestic content market this year.
On the 23rd, Smilegate announced that it will establish a joint venture (JV)’Smile Gate Realize’ with the production company Realize Pictures, and develop a video content business such as movies and dramas using multi-content IP.
Realize Pictures is a production company that mobilized 10 million viewers, such as △With God1 △With God2 △Gwanghae. The two companies plan to develop a leading and diverse cultural business suitable for the rapidly changing global entertainment market through JV.
In addition, by securing a new IP, it will focus on maximizing synergy by combining Realize Pictures’ video content production capabilities and Smilegate’s capabilities in the global market. The plan is to combine multiple IPs into a single worldview to become a’universe’, and to continuously provide various contents through a transmedia strategy that crosses the boundaries of the video format.
In particular, with Jin-ah Kim, director of Netflix, who recently joined Smilegate, he is working on expanding the video content business. Director Kim is being evaluated in the industry as a person who played a role in establishing business models such as streaming and subscription services on Netflix in 2016 and informing K-contents to global viewers.
The CEO of Smilegate Realize is the managing director of IP Business Development at Smilegate Holdings, who has led the Smailgate Group’s main IP diversification business. Along with this, Dong-yeon Won, CEO of Realize, joins as co-president to develop the business together.
The news of the establishment of a JV with Realize Pictures, which has been producing videos based on hit IP, is an atmosphere that the industry is also paying attention to future moves. Smilegate has been promoting video content business based on its hit IP’Crossfire’ and’Lost Arc’.
Since last year, it has been producing movies with Hollywood distributor Sony Pictures based on Crossfire IP. In China, it was produced as a drama’Cheonwolhwaseon’, recording 1.8 billion views and succeeding in popularity. The industry is predicting that Smilegate, which has been developing business mainly in the overseas content market, will enter the domestic content market through this JV.
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