WYSIWYG Studio Also Participates in Paid Capital Increase
Wider Planet announced on the 8th that it has decided to conduct a third-party allotment paid-in capital increase worth approximately 19 billion KRW to raise operating funds.
New shares totaling 5,965,460 common shares will be issued at 3,185 KRW per share. The third-party allotment recipients include six individuals such as Lee Jung-jae (3,139,717 shares) and Jung Woo-sung (627,943 shares).
Wider Planet stated that the purpose of the third-party allotment is "to achieve the company's management objectives such as carrying out the intended business and improving the financial structure."
Comprehensive media content production company WYSIWYG Studios (hereinafter WYSIWYG) will also participate in the paid-in capital increase. The scale is 2 billion KRW, and the new shares are scheduled to be listed on the 26th.
In addition to WYSIWYG, Lee Jung-jae and Jung Woo-sung, who are representative actors, producers, and film directors in South Korea, will jointly participate in this capital increase.
Having transformed into a comprehensive media content production company, WYSIWYG is expected to collaborate with these two top-tier actors and producers to introduce scientific methods into the content production and distribution process, thereby increasing the success rate of content.
Wider Planet is a developer of big data and artificial intelligence marketing platforms. The company possesses technology that tracks and analyzes de-identified data of 43 million people, specializing in understanding what content users are interested in.
While this technology has mainly been used for targeted marketing in the advertising market, through this capital increase, Wider Planet plans to expand its service model into content production, distribution, and broadcasting by partnering strategically with WYSIWYG and directors Lee Jung-jae and Jung Woo-sung.
Wider Planet holds unparalleled technology in South Korea for collecting real-time consumer behavior and preference data, enabling it to identify the interest levels of specific content users and expand into business models linked to commerce.
Moreover, by utilizing preference data, a scientific approach is possible for recommending actors suitable for specific genres and age groups as well as for determining optimal movie release timings.
Additionally, WYSIWYG, which is participating as a shareholder this time, will add execution power in producing and distributing various content such as films, dramas, and entertainment shows, while Lee Jung-jae and Jung Woo-sung will provide in-depth perspectives by leveraging their diverse experiences as actors, producers, and directors.
After this capital increase, the three companies?Artist Company, where the two artists belong and which is the largest shareholder, Wider Planet, and comprehensive media content production company WYSIWYG Studios?will engage in strategic collaboration.
The collaboration will focus mainly on two areas: ▲ creative content production, distribution, and marketing ▲ building a global fandom platform for K-content.
By combining Wider Planet’s advanced AI technology and data analysis capabilities, Artist Company’s outstanding content production skills and collaborations with world-class artists, and WYSIWYG Studios’ visual innovation and comprehensive content value chain, they plan to recreate Korean content tailored for the global market and distribute it effectively.
Wider Planet’s technology will be applied not only to marketing but also to the production front end to maximize the success and impact of content.
Next, they plan to build a platform for fandoms who love K-content and provide customized services for global fans.
Through AI and big data analysis, they will enhance K-content’s global influence by offering personalized content recommendations, participatory events, fan community support, and content and fandom merchandising businesses.
The collaboration among Wider Planet, Artist Company, and WYSIWYG Studios is expected to contribute to expanding K-content’s global presence and creating new business opportunities in a creative and innovative way.
Park Kwan-woo, CEO of WYSIWYG, said, "Although the level of K-content has improved, superstitions and ad hoc practices have persisted for decades beneath the surface. This capital increase will be an opportunity to open a new chapter where technology and creativity converge in the content industry."
Gu Kyo-sik, CEO of Wider Planet, stated, "By maximizing synergy through the combination of the two artists participating in this capital increase and Wider Planet’s AI big data platform, we will advance the content and entertainment industry and ultimately position ourselves as a 'content AI big data tech company.'"
Meanwhile, WYSIWYG is a comprehensive media content production company that has production and management companies such as RaemongRaein, ATOZ Entertainment, Merry Christmas, Gold Frame, and MAA under its umbrella. It is expanding its scope by presenting not only drama content like The Youngest Son of a Chaebol Family but also entertainment content such as Street Woman Fighter 2.
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