'Native OTT' Wavve Targets European Market... Possible Entry as Early as This Month

K-Content Platform 'Cocowa' Expands to Europe
Starting with Countries Using Subtitled Languages in the Americas
Strengthening Position through B2C and Global OTT Partnerships

Domestic native online video service (OTT) provider Wavve is set to expand its market to Europe as early as this month, beyond the Americas.

Screenshot of the homepage of 'Cocowa,' a K-content platform operated by Wave America

According to industry sources on the 11th, Wavve will enter the European market through the K-content platform ‘KOCOWA (Korea Content Wave)’ as early as this month. It is understood that business and administrative preparations are underway depending on the situation in each target country. KOCOWA is expected to first enter Europe focusing on countries such as Spain, Portugal, the United Kingdom, and Ireland, where English, Spanish, and Portuguese?languages in which subtitle services are currently provided in the Americas?are spoken. KOCOWA is the service brand name of Wavve America Corporation.

Previously, Lee Tae-hyun, CEO of Wavve, stated at an international OTT festival, "By this spring, we plan to expand beyond North and South America to four European countries and Oceania." He added, "Europe and the United States have high ARPU (average revenue per user). Although it is not easy to grow as a tier-1 operator, entry is necessary due to ARPU even if the expected subscriber market share is low."

Wavve is expanding its global presence not by establishing independent corporations in each country but through Wavve America’s ‘KOCOWA’. Currently, KOCOWA provides services in 35 countries across the Americas, including the United States, Canada, Mexico, Brazil, and Puerto Rico.

In addition to the B2C service ‘KOCOWA+’, content services are also offered through partnerships with major overseas OTT providers. This allows major OTT users abroad to access Korean content provided by KOCOWA, thereby strengthening its position as a platform.