KRAFTON, the publisher behind PUBG Studios, Striking Distance, and Tango Gameworks, has revealed a landmark investment into Spoon Labs, a short-form video platform. In a recent press release, it was confirmed that this is the largest non-gaming investment that KRAFTON has ever made.
Short-Form is King
Platforms like TikTok, YouTube, and Instagram have invested heavily in short-form content over the last few years. As we see a global cultural shift, we’re noticing that humans prefer to consume ‘quick-release’ content – short videos that entertain or inform in less than a minute.
KRAFTON has also identified the value of short-form content, investing $89 million in Spoons Lab to back the development of ‘Vigloo’, an online video service that leans more into short-form ‘dramatic’ content.
CH Kim, the CEO of KRAFTON, said:
Spoon Labs has already proven its strong overseas business capabilities through Spoon over the past few years. We look forward to creating entertainment that people worldwide can enjoy together and establishing a robust industry ecosystem within the new short-form drama platform business.
It was stressed in the press release that the investment is also an attempt to ‘secure new sources of IP’.
Spoon Labs’ CEO said:
We have been strengthening our position as a global content platform company by expanding our business from audio to video. We plan to enter the U.S. and Japanese markets soon, and together with KRAFTON, we will establish a new international standard in the short-form drama sector.
How do you feel about the growth of short-form content? Do you think we need to build back up our attention spans, or are you perfectly happy ‘doom-scrolling’ through apps like TikTok?
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