Wavve(CEO Lee Tae-hyun) announced that it acquired KOCOWA(Korean Content Wave), the No.1 K-content streaming platform in the Americas, to accelerate its entry to the global market. As the largest OTT platform of Korea, Wavve held a Board of Directors meeting today and confirmed the acquisition of KOCOWA. Wavve launches its global business with the acquisition of content streaming service in the Americas, which is considered a hub to reach global markets.
KOCOWA is offering K-content to the subscribers about 30 countries of the Americas including the US, Canada, Mexico, and Brazil. In an effort to provide a broader range of global content service, KOCOWA offers K-content not only through its streaming application ‘KOCOWA+’ but also through the local OTT and cable TV service providers including Amazon Prime Video, Google TV, Rakuten Viki, Roku, Comcast Xfinity, Xumo, and COX that are partnering with KOCOWA.
With the acquisition of KOCOWA, Wavve has positioned itself as a provider of main broadcasting content and original drama/film/entertainment/documentary content for Korean subscribers as well as the subscribers in the Americas. Wavve aims to lead the global trend of content streaming service. To this end, it will provide a wider global audience with the original lineup of popular dramas such as ‘Weak Hero Class 1’, which was streamed concurrently in Korea and overseas. Wavve also plans to offer a variety of content services including the globally popular dramas including ‘The Law Café’ and ‘Cheer Up’ and global artist content such as NCT’s reality-variety show titled ‘Welcome to NCT Universe.’
Wavve also expects to create a synergy by using KOCOWA’s English/Spanish/Portuguese subtitles and dubbing service to provide its audience with multi-language subtitles in addition to the Korean subtitles that are available in its main Korean content. With the acquisition KOCOWA, Wavve plans to gradually expand its global business and strengthen its strategic partnership with global media groups to facilitate joint investment in content and grow the subscriber base.
“We are trying to work with diverse global media partners while building a system of synergy with KOCOWA. Although our global journey has just begun, we aim to become the best K-content platform in the global market in the near future,” said Lee Tae-hyun, the CEO of Wavve.