In the fast-paced world of streaming, where platforms such as Netflix, Disney+ and HBO Max dominate the global market, KOCOWA+ has managed to stand out as the “Netflix of Korean series,” offering an exclusive catalog of Korean entertainment content. Recently, the platform announced its expansion into Europe and Oceania, bringing K-Content, such as dramas, variety shows and K-Pop, to 39 new territories. This strategic move positions KOCOWA+ as a strong option in the competitive global streaming market.
A new horizon for K-Content: Launched by leading Korean broadcasters KBS, MBC, SBS and SK Square Americas, KOCOWA+ has established itself as the largest library of Korean content outside Korea. Since its inception, it has expanded its influence to more than 74 countries, with plans to continue to grow and offer its content on new platforms and devices. ‘As home to the largest library of Korean content outside of Korea, we are honored to bring the first 100% Korean streaming platform to Europe and Oceania’, said KunHee Park, CEO of the company, during the presentation at Natpe Budapest 2024.
The streaming service offers an extensive variety of titles, ranging from popular K-Dramas such as Weightlifting Fairy Kim Bok-Joo, Coffee Prince and My Dearest, to variety series and K-Pop focused programs such as Weekly Idol and Idol Star Athletics Championships. In addition, KOCOWA+ stands out for its ability to upload new episodes just eight hours after they air in Korea, with subtitles in multiple languages, including English, Spanish, Portuguese and Chinese.
The K-Pop phenomenon and the HYBE deal: One of the cornerstones of KOCOWA+‘s success is its focus on offering K-Pop related content. In a key agreement with HYBE, KOCOWA+ has expanded its library to include more than 10,000 hours of content related to K-Pop stars such as BTS and SEVENTEEN. The platform now features 18 new programs including behind-the-scenes, live concerts and reality shows such as IN THE SOOP SEVENTEEN, where artists are shown in their most intimate side.
To celebrate the collaboration with HYBE and the comeback of SEVENTEEN, KOCOWA+ has launched a series of fan-favorite concerts, underscoring the importance of K-Pop in its catalog. According to Park, ‘K-Pop content is an extremely important part of our offering to our passionate audience. Partnering with HYBE and adding BTS content to our roster is a natural fit’.
Challenges and opportunities in Europe and beyond: Despite market challenges, the Korean platform sees key opportunities in its recent expansion into Europe and Oceania. In the competitive European landscape, where services such as Netflix, Disney+ and Prime Video already have a strong presence, KOCOWA+ is looking to differentiate itself by offering exclusively Korean content, which could attract a niche audience and K-Content lovers. In addition, the platform has launched attractive promotions, such as a 30% discount for new subscribers in Spain, to gain market share quickly.
In the words of CEO KunHee Park, initial challenges included overcoming the belief that a subscription-based business model would not work with Korean content alone: ‘No one believed we could do a subscription-based business model. Because there is no subscription platform just for Korean content’. Added to this is the need to quickly adapt its content to multiple languages and regions, a key aspect of competing in the international market.
The future of KOCOWA+ in global entertainment: The success of KOCOWA+ lies not only in its extensive catalog, but also in its ability to respond to the demands of the global market. With a library of more than 30,000 Korean titles and exclusive content available in record time, KOCOWA+ is positioned as a major player in international K-Content distribution. In addition, the platform offers flexibility in its service, adapting to local demands and providing access on a variety of devices.
One of KunHee Park‘s most relevant comments at Natpe Budapest was his reflection on how audiences outside Korea consume Korean content: ‘Americans watch titles differently from Koreans. They love to watch their favorite titles continuously, such as sitcom series. People keep watching their favorite titles continuously’. This approach to differences in content consumption allows KOCOWA+ to adjust to the preferences of each region, offering a customized experience to its users.With an ever-expanding offering and a clear strategy for global expansion, KOCOWA+ is on its way to becoming the global benchmark for Korean entertainment, bringing the best of K-Content to new audiences around the world.
