Korea’s leading entertainment company, CJ EM, launched a new project called DIA TV early this month in an aim to bridge domestic YouTube video creators with a wider global audience.
DIA TV is an upgraded version of the company’s multichannel network (MCN) business, which was established in 2013 to provide support to video creators when it comes to marketing, distribution and copyright issues.
However, with the business’ fast-paced development, the entertainment conglomerate is now taking its service to the next level under a new agenda – by creating new business models, expanding its platform and reaching out to global audiences.
“We now have 387 creators who amass more than 22 million subscribers on YouTube. Each of them specializes in various fields, like entertainment, beauty, music and food. Now, those creators can advance to become ‘influencers’ who can have an impact on the public,” Oh Jin-se, who manages the company’s MCN business, said during a press conference on May 7 in central Seoul.
When the MCN business was created in 2013 – the first of its kind in Korea – it aided many content creators by offering practical help, such as renting out cameras, arranging collaboration among video producers and even building studios in Hongdae, western Seoul.
Now, DIA TV will diversify the group’s single platform, YouTube, with other video-sharing websites such as Youku, based in China, and Dailymotion, based in France. CJ EM is currently in discussions to possibly start that service from June.
Among the many possible business models possible from video content, the first to be debuted is that called O2O (offline-to-online) service.
It matches online content with offline reality – by suggesting real restaurants that offer similar dishes to those promoted by video bloggers, for example.
At the same time, the entertainment giant is attempting to reach a wider global audience, considered key in expanding business.
CJ EM plans to broadcast Internet-based content to their own global TV channel, Channel M, which airs in Singapore, Taiwan and Hong Kong, among others.
“We are not going to restrict our boundaries only to the domestic market,” said Lee Deok-jae, who’s in charge of the company’s broadcasts and content.
“If we don’t profit outside the domestic market, there would be some limitations. There are creators who aren’t able to realize their potential due to things like language barriers, so we are planning to fill in those gaps,” Lee added.
Translation services for homemade videos will be offered in addition.
DIA TV aims to secure 2,000 content creators by 2017, while establishing more than 20 teams with more than 1 million subscribers.
One of the main partners of the new project is Na Dong-hyun, better known as The GreatLibrary, who runs the eponymous Youtube channel with more than 900,000 subscribers.
With the help of CJ EM, Na plans to build his own company, tentatively titled DH Media, within the first half of this year.
“Seeking out content creators who lack publicity amid this highly competitive market,” is the main purpose of his soon-to-be founded company.
BY JIN EUN-SOO