To Promote Exports of Korean Content
SK Telecom announced on April 12 that Content Wavve, a joint company of South Korea’s three terrestrial broadcasting stations, formed a partnership with NBCUniversal for original content exports and global content ecosystem expansion.
The purpose of the partnership is for SK Telecom and Wavve to expand the global Hallyu ecosystem and for NBCUniversal to occupy Hallyu content in advance with the popularity of the content rising in the United States and Europe in particular.
According to the partnership, Wavve is going to supply NBCUniversal with the original content of Wavve and the terrestrial broadcasting stations for three years to come, up to five items a year. Wavve is supposed to recommend multiple TV dramas and films and NBCUniversal will select those to be distributed in view of region-specific preferences.
NBCUniversal as an exclusive distributor will provide the content for global viewers via various media platforms. The company is planning to launch its OTT service Peacock in the United States within this month. SK Telecom, Wavve and NBCUniversal are considering producing and investing in content together, too.