PlayList

What PlayList does

PlayList Corporation (플레이리스트 주식회사) is a privately held Korean digital content studio founded in July 2017 through joint investment from Naver Webtoon and Snow Corp, two subsidiaries of Naver Corporation. Headquartered in Seoul's Yongsan-gu district with 51-100 employees, the company produces web dramas, music content, and branded entertainment targeting MZ generation audiences (consumers in their 20s-30s). Its operational scope spans three integrated content verticals: original drama production (including Love Playlist, A-TEEN, Weak Hero Class 1 & 2, and Play, Ply), K-pop music programming through the MU:PLY YouTube channel (1M+ subscribers, 100M+ views), and branded content partnerships with corporate advertisers (most prominently the CU convenience store chain, with the Convenience Store Veteran/Newbie series reaching 300M+ combined views). The company's proprietary PLYVERSE platform, launched in July 2021, is the first interconnected content universe/worldview constructed by a Korean production company, designed to enable cross-property storytelling across its drama and music franchises.

PlayList's revenue model combines content licensing/royalty streams (selling original drama and music content to Netflix, Wavve, Hulu Japan, and international distributors like KOCOWA, Rakuten Viki, and iQIYI across 8 languages and 14M+ global fans), advertising revenue from branded content production (notably the CU partnership), and music platform monetization through YouTube's MU:PLY channel. Distribution occurs through a four-channel YouTube network (PLAYLIST ORIGINALS, SHORTPLY, MU:PLY, KODE) collectively reaching 17.9M global subscribers and 4B+ cumulative views, alongside Korean platforms Naver TV and Naver Webtoon. The company generated KRW 25B ($22M USD) in Series B funding in March 2021 and KRW 14.2B ($10.7M USD) in a 2023 round led by Altos Ventures and Hana Securities Club1 WM Center, with cumulative funding of approximately KRW 44.5 billion across all rounds. In June 2024, PlayList acquired production company Shortcake (founded 2019), bringing Director Han Jun-hee (creator of Netflix's D.P. franchise and Killing Romance) and the Weak Hero Class production partnership fully in-house, marking its transition from web-native short-form content to premium OTT-scale drama production.

Name

PlayList

Legal name

플레이리스트 주식회사

Website

https://playliststudio.kr

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

PlayList is a Seoul-based private Korean digital content studio producing web dramas, K-pop music programming, and branded entertainment for MZ generation audiences. Founded in 2017 as a joint venture between Naver Webtoon and Snow Corp, it licenses original content to Netflix, Wavve, Hulu Japan, and international OTT platforms across eight languages.

Ownership category

akta.pro rank

Product category

Web Drama Production

NAICS

Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (516210), Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (5162)

SIC

Services-Motion Picture & Video Tape Distribution (7822)

akta.pro primary industry

On-Demand Music Streaming Platforms (MPAIADAA)

akta.pro secondary industry

Short-Form Video Discovery, Curation & Aggregation Platforms (MPACAHAG)

Keywords

• Web drama production
• Digital content studio
• OTT content licensing
• Branded entertainment
• Short-form content

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Digital Commerce or Content

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Content Production & Licensing: Production and licensing of original drama and music content to streaming platforms (Netflix, Wavve, Hulu Japan) and international distributors
2. Branded Content & Advertising: Branded content production for corporate partners including convenience store chains (CU) and other brands, generating view-based revenue with 100M+ views achieved on branded content
3. Music Content & K-pop: K-pop focused music content through MU:PLY channel with 1M+ subscribers, including special comeback shows and variety content featuring K-pop artists

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

PlayList is a Seoul-based digital content studio founded in 2017 that produces original web dramas (Love Playlist, A-TEEN, Weak Hero Class 1, Play Plee, XX), music content via the MU:PLY YouTube channel and NPOP show, and branded entertainment series for corporate partners such as CU convenience stores. The studio distributes its content through Naver TV, YouTube, and international OTT platforms including Netflix, Wavve, and Hulu Japan.

Product overview

Playlist is a comprehensive digital content studio offering a portfolio of interconnected products across drama, music, and entertainment categories. The core offering includes original drama series (Love Playlist, A-TEEN, Weak Hero Class 1, Play Ply, XX) distributed via OTT platforms and proprietary YouTube channels. Music operations center on the MU:PLY K-pop channel, while entertainment spans NPOP music broadcasts, Dum Dum Quiz, and short-form content via Shortply and branded content with partners like CU. The PLYVERSE platform connects multiple content properties in an interconnected universe. Distribution extends globally through partnerships with Netflix, Hulu Japan, Wavve, Tving, and international platforms. The company operates multiple branded YouTube channels totaling 17.9 million global subscribers and 4 billion global hits.

Differentiator

Problem solved

Functional benefit

Brands

• MU:PLY: K-pop music channel operated by Playlist, featuring idol content, live performances, and music entertainment targeting MZ generation viewers.
• SHORTPLY
• KODE
• PLYVERSE
• TEENPLY
• NPOP (엔팝)

Products and services

• Love Playlist

Quantifiable outcome

• Weak Hero Class 1 achieved 4 consecutive weeks of #1 ranking in OTT drama/series popularity metrics on Wavve
• +4 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• Shortcake (쇼트케이크)coreStrategic or Co-development Partner · 3 June 2024PlayList acquired Shortcake production company, securing director Han Jun-hee (known for Netflix's D.P. series and Killing Romance film). Shortcake has produced Weak Hero Class 1 & 2, and the acquisition strengthens PlayList's creative capabilities and core creator internalization strategy.
• Naver WebtooncoreStrategic or Co-development PartnerJoint founding investor and parent company of PlayList. Established in 2017 through joint investment from Naver Webtoon and Snow. Naver Webtoon provides IP development capabilities and international distribution through WEBTOON platform.
• CU (BGF Retail)majorStrategic or Co-development PartnerPartnership for branded content including 'Convenience Store Veteran' (150M+ views) and 'Convenience Store Newbie' series. Includes drama content, branded entertainment, IP-linked product development, and marketing collaboration across online and offline experiences.
• Hulu JapanmajorChannel Partner/ Reseller/ DistributorHulu Japan Original co-production partner for 'Play Plee' drama, simultaneously airing with Tving. Play Plee ranked #1 on Hulu Japan's Korea drama and Asia drama rankings.
• NavermajorChannel Partner/ Reseller/ DistributorPartnership for music show 'NPOP' - a special comeback show and variety program featuring K-pop artists. Naver provides platform distribution for the content.
• BigPlanetMaid EntertainmentmajorStrategic or Co-development PartnerK-pop entertainment company whose girl group Badvillain debuted on NPOP (Naver-PlayList music show) on June 3, 2024. PlayList provides debut show and promotional content through NPOP platform.
• WavvemajorChannel Partner/ Reseller/ DistributorKorean streaming platform for Weak Hero Class 1 as Wavve Original. The series achieved #1 ranking among Wavve's paid subscribers and 4 consecutive weeks of #1 in OTT popularity metrics.
• LENGEDminorStrategic or Co-development PartnerMetaverse specialized company with which PlayList signed MOU and made equity investment in March 2022 as part of future technology exploration.
• KOCOWAmajorChannel Partner/ Reseller/ DistributorNorth American streaming aggregator distributing Weak Hero Class 1 to Amazon Prime Video, Comcast, and Roku channels.
• Rakuten VikimajorChannel Partner/ Reseller/ DistributorInternational streaming platform distributing Weak Hero Class 1 to Europe, Oceania, Middle East, and India markets.
• iQIYImajorChannel Partner/ Reseller/ DistributorInternational streaming platform distributing Weak Hero Class 1 in USA and Taiwan markets.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Studio Dragon: Korea's largest drama production studio (subsidiary of CJ ENM), producing premium series for Korean broadcasters and global OTT platforms including Netflix. Direct peer: both produce Korean drama IP licensed to the same streaming partners and target MZ-generation audiences.
• JTBC Studios (SLL): Korean drama and film production subsidiary of JTBC Group, producing premium series for domestic and international OTT. Direct peer: same premium Korean drama category, same Netflix/Wavve-style distribution model, same competition for top Korean creators.
• Hwa & Dam Pictures: Independent Korean drama and film production house producing premium series including Vincenzo and My Mister. Direct peer: comparable mid-sized Korean drama studio selling into the same OTT and global distribution channels.
• NEW (Next Entertainment World): Korean film and drama production and distribution company producing premium Korean content for cinema and streaming. Direct peer: similar size and business model producing Korean IP for both theatrical and OTT distribution.

Broad incumbents

• Kakao Entertainment: Diversified Korean content platform spanning drama production, webtoons, K-pop, and music distribution, with significant Naver-competitive scale. Broad incumbent: overlaps with Playlist on drama production, webtoon-to-screen adaptations, and music content, but operates as a much larger vertically integrated group.
• CJ ENM: Korean entertainment conglomerate operating tvN, Studio Dragon, and global OTT (Wavve competitor). Broad incumbent: the parent and channel-side counterpart to Studio Dragon, competing with Playlist on both production (via Studio Dragon) and distribution (via tvN/Wavve). Owns Weak Hero Class 1's primary distribution platform.

Emerging players

• HYBE: K-pop entertainment company expanding into drama, animation, and gaming via Weverse and HYBE IM. Emerging player in drama production: overlapping only partially with Playlist (music content/fandom engagement via MU:PLY) but increasingly competing for the same MZ-generation attention and global OTT partnerships.

Others

• SM Entertainment: Major K-pop label and entertainment company. Adjacent peer: overlapping music content ecosystem where Playlist produces idol promotional content (MU:PLY, NPOP); not a direct drama competitor but a frequent counterparty for Playlist's K-pop artist collaborations.
• YG Entertainment: K-pop label and entertainment company. Adjacent peer: counterparty on music content collaborations and a competing source of high-profile K-pop artists for Playlist's variety and promotional programming.
• Naver WEBTOON: Parent company IP pipeline and webtoon distribution platform. Enabling ecosystem peer: provides source IP for adaptations such as Play, Ply and 200M+ view content distribution — a strategic dependency for Playlist's content roadmap rather than a competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PlayList