[Asia Exclusive] CEO Lee Taehyun... 'OTT Optimized' from Content Production and Programming to Overseas Business

Wave, 10 Million Members... Growing Presence of the Platform
IPO Blueprint with 300 Billion KRW Investment in Original Content

Lee Taehyun, CEO of Content Wave, is being interviewed by Asia Economy at SBS Prism Tower in Mapo-gu, Seoul. Photo by Kang Jinhyung aymsdream@

[Asia Economy Reporter Kim Heung-soon] Total membership reaches 10 million, with a 64.2% increase in paid subscribers.

Online video service (OTT) Wavve announced these achievements last month to commemorate its first anniversary. This is also the result achieved since Lee Tae-hyun was appointed as Wavve's CEO in June last year. Overcoming the onslaught of global platforms and fierce competition among domestic operators, Wavve has shown rapid growth over the past one year and four months, boosting CEO Lee's confidence.

He said, "The content industry is one of the few items that can expand overseas and achieve results," adding, "Working in the OTT sector, which has growth potential and a positive outlook, is rewarding."

CEO Lee has a deep understanding of the OTT industry, where the winning strategy lies in producing and investing in original video content or programming differentiated items that attract subscribers' interest.

He entered the broadcasting industry in 1994 as a KBS producer, working in the entertainment and culture departments. Based on the humanities knowledge he accumulated while majoring in philosophy at university, he focused on producing current affairs and cultural programs. Programs such as "Dool's Analects Story," "People, Into the World," "Chujeok 60 Minutes," and "6 O'clock My Hometown" were all produced under his direction.

In 2007, while leading the election broadcast project team, he changed KBS's election broadcast format, which had previously been perceived as somewhat stiff. A representative method was decorating the studio with 3D graphics and delivering candidates' vote counts in a marathon broadcast style to increase viewer engagement. At that time, KBS's ratings were the highest among the three terrestrial broadcasters' election broadcasts.

He served as a New York PD correspondent, head of programming policy, and executive producer of the KBS Global Center, handling programming and overseas business, and also served as director of the KBS Content Business Bureau. Based on this experience, he carefully selects original production items that Wavve can differentiate and scouts overseas famous dramas, movies, and documentaries.

He said, "Whenever I have time, I review new production and investment proposals and meet with content providers for possible collaboration." Wavve has pledged to invest 300 billion KRW in content acquisition by 2023. Under CEO Lee's leadership, the company has also presented a blueprint to achieve 6 million paid subscribers and 500 billion KRW in sales by 2024 and to pursue a public listing.

◇ CEO Lee Tae-hyun Profile

▲ Date of Birth: November 20, 1968

▲ Education: Daewon High School, Seoul - Korea University, Department of Philosophy

▲ Major Career

Joined KBS (1994)

KBS TV2 - Entertainment Department (1994)

KBS TV1 - Culture Department (1995)

KBS Entertainment Department (2000)

KBS Culture Department (2001)

KBS Program Strategy Planning Team (2004)

KBS Election Broadcast Project Team (2007)

KBS Planning and Production Department - Documentary Part (2009)