MBC has partnered with the webtoon and web novel specialist corporation Jaedam Media to strengthen its competitiveness in content and expand its intellectual property (IP) business.
On the 16th, MBC announced it would execute a strategic equity investment in Jaedam Media this month and establish a partnership to continuously exchange and plan, develop, and commercialize the content IP both companies hold.
Jaedam Media is a corporation that produces and distributes webtoons and web novels, boasting more than 500 webtoon IPs including 'Weak Hero', 'Palace', 'Neighborhood Lawyer Jo Deul-ho', 'Tough Guy', and 'Youth Blossom', with a pool of over 300 writers.
In particular, the drama 'Weak Hero Class 2', released recently on Netflix, achieved the top rank in the global TOP10 series (non-English) category within three days of its release, and its predecessor 'Weak Hero Class 1', released a month earlier, also reached the second rank in the global TOP10 series (non-English) category. This popularity has led to an explosive response, with webtoon sales of 'Weak Hero' increasing by 20 times.
Through this strategic investment and partnership, MBC has secured opportunities to continuously adapt Jaedam Media's webtoons into videos. Building on this, MBC plans to utilize its production capabilities to expand its content portfolio beyond traditional broadcasting content to include OTT content and short-form dramas.
Jaedam Media is also expected to strengthen its video adaptation competitiveness by integrating MBC's planning and production capabilities and to secure a competitive edge in global distribution. Additionally, it plans to continuously review the webtoon adaptation of MBC's video IPs, such as dramas, to diversify the subjects of webtoons.
MBC and Jaedam Media announced plans to hold a hybrid contest that includes dramas, webtoons, short forms, and films to discover various new IPs and writers that transcend genre boundaries and jointly develop selected works.
Yoon Mi-hyun, head of MBC's content business division, noted, "It is very important to securely acquire proven IPs in advance to strengthen MBC's content competitiveness," and added, "Through this strategic investment in Jaedam Media, we expect the two companies to collaborate in various ways to create a global success story following 'Weak Hero'."
Hwang Nam-yong, CEO of Jaedam Media, stated, "With MBC's strategic investment, Jaedam Media will strengthen the secondary commercialization areas of various original IPs it holds and further expand the influence of K-webtoons in the global market," and added, "Through this partnership, where the capabilities of both companies are combined, we will continuously present innovative business models and excellent content."
[Photo] Provided by MBC and Jaedam Media.
[OSEN]