K-Drama content creator studio, Playlist, has recently attracted an investment of 14.2 billion won (USD 10 million). This investment round saw participation from Altos Ventures and Hana Securities Club1 WM Center. The investors were impressed by Playlist’s strong IP pipeline, production capabilities, and its influence in the digital channel, boasting over 11 million subscribers. Known for successful dramas like ‘Weak Hero Class 1’ and ‘Convenience Store Dead Man,’ Playlist has gained attention in the industry.
Playlist is a production company that has gained recognition for its internalized production capabilities, covering the entire process from original IP planning to production and distribution. They have a talented team of creators who have been behind hit K-Dramas. Notable people in the company include Hyun-gi Yoon, head of Playlist Production 1, who worked on ‘Weak Hero Class 1’ and ‘Crash Landing on You,’ and Lee Mi-na, who oversaw Playlist Production 2, which included ‘Itaewon Class’ and ‘Age of Youth.’ The company’s stable business model has been acknowledged as they expand into music and entertainment content, in addition to their drama productions.
Playlist’s CEO, Park Tae-won, expressed that their growth has been driven by proactively adapting to changes in viewer and platform consumption behavior. The recent investment will further highlight their exceptional production capabilities and future potential, enabling a significant leap forward for the company.
Park Hee-eun, a partner at Altos Ventures, emphasized the intense competition faced by global OTT companies in Korea, and how content studios have expanded their reach. Altos Ventures decided to make a follow-up investment in Playlist due to their position as a first mover, building strong production capabilities. They were particularly attracted to Playlist’s efforts in expanding the market to Japan, where the demand for K-Content has been rapidly increasing.
With the secured investment, Playlist aims to expand its business operations and secure operating funds. Their plans for this year include maximizing their presence as a comprehensive studio through the launch of new ventures such as membership services and music-related businesses. Additionally, they intend to accelerate their entry into the Japanese market, leveraging their successful experiences thus far. Playlist seeks to enhance domestic and international cooperation, fostering synergy in their endeavors.
Previously, Playlist received a series B investment of 25 billion won (USD 18 million) from venture capital firms IMM Investment · Premier Partners and Gorilla Private Equity in March 2021. In 2019, Altos Ventures invested 5.3 billion won (USD 4.3 million) in a series A round, followed by a 6 billion won (USD 4.5 million) capital increase in September 2020 involving existing investors Naver Webtoon, Snow, and Altos Ventures. With this recent investment, Playlist has successfully attracted a total of 46.5 billion won (USD 35.2 million) from external sources.
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