What WHYNOT Media does

WHYNOT Media is a South Korea-based multi-genre content production studio founded in 2016, headquartered in Mapo-gu (Seogyo-dong), Seoul. The company produces drama, entertainment, and animation content for digital platforms and OTT services, and has built a catalog of 147+ series and 1,971+ episodes reaching 6.7M+ subscribers with 6.16M+ hours of accumulated viewing. Content is distributed domestically through Netflix Korea, Wavve, Disney+ Korea, TVING, KBS, and Channel A, and internationally through AbemaTV (Japan), FOD/Fuji TV (Japan), Tencent Video (China), TelkomBigTV (Indonesia), and Rakuten Viki.

The business is organized around a parent studio plus three wholly-owned production subsidiaries acquired during 2021-2022: OZ Arena and The Great Show for long-form drama production, and Name X Entertainment for animation. WHYNOT generates revenue through three streams: content licensing and co-production fees from platform partners, branded content and advertising collaborations with brands, and global collaboration/co-production ventures. Pricing is not publicly disclosed and is negotiated per project on a B2B basis. The company has raised approximately $30M+ USD across four disclosed venture rounds (Series A in December 2017, Series B in June 2019, Series pre-C in April 2021, and Series C of 22 billion KRW in May-July 2022), with participation from South Korean financial investors (KB Investment, Shinhan Capital), strategic investors (Com2uS, F&F Partners, KDDI), and venture capital firms (Global Brain, Mirae Asset Venture Investment, ID Ventures). It is governed as a private Korean stock corporation (주식회사 와이낫미디어) under CEO Lee Minseok, with no proprietary technology platform or AI/ML capabilities disclosed in the source data.

Name

WHYNOT Media

Legal name

주식회사 와이낫미디어

Website

https://whynot.video

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

WHYNOT Media is a South Korean multi-genre content studio producing drama, entertainment, and animation for global OTT platforms including Netflix, Disney+, AbemaTV, and Tencent Video, with 147+ series and 6.7M+ subscribers across Korea, Japan, China, and Southeast Asia.

Ownership category

akta.pro rank

Headquarters

HQ city

Mapo

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Content Licensing and Production: WHYNOT Media produces and licenses drama, entertainment, and animation content to digital platforms and OTT services domestically and internationally. Revenue is generated through content licensing fees, co-production deals, and production service fees with platforms such as Netflix, Wavve, Disney+, AbemaTV (Japan), FOD (Japan), and Tencent Video (China).
2. Branded Content and Advertising: The company collaborates with various brands to produce branded content and advertising, generating revenue through creative production fees and brand partnerships.
3. Global Collaboration Business: WHYNOT Media engages in global collaboration business ventures, including co-production and content distribution partnerships across international markets, contributing to revenue through shared production investments and international distribution royalties.

Go-to-market motion2 records

Distribution channels10 records

Marketing channels5 records

Core offering

WHYNOT Media is a South Korea-based global comprehensive content studio that produces and distributes multi-genre content including drama, entertainment, animation, and branded content for digital platforms and OTT services. The company develops original content IP across 147+ series and licenses finished content through an international distribution network covering Korea, Japan, China, and Southeast Asia.

Product overview

WHYNOT Media operates as a Global Comprehensive Content Studio offering a multi-genre content production platform. The core offerings include Drama Content Production, Entertainment Content Production, and Branded Content/Advertising. These are supported by acquired subsidiaries: OZ arena Co., Ltd (long-form drama), NAME X ENTERTAINMENT Co., Ltd (animation), and The Great SHOW Co., Ltd (long-form drama). The company produces content for digital platforms and OTT services, with a portfolio of 147+ content IP series, 6.7M+ subscribers, and 1,971+ episodes.

Differentiator

Problem solved

Functional benefit

Products and services

• Drama Content Production
• Entertainment Content Production
• Animation Content Production
• Branded Content Production
• Content IP Distribution & Licensing

Quantifiable outcome

• 6.7M+ subscribers reached across distribution platforms
• +3 more outcomes

Named customers11 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

Partnerships

16 partnerships are on record, tiered minor and core.

• 신한금융그룹 / 신한금융희망재단 (Shinhan Financial Group / Shinhan Hope Foundation)minorGTM or Marketing Partner · 1 December 2023WHYNOT Media's Hero's Night won the Excellence Award at 신한금융그룹 / 신한금융희망재단's Hero's Night program in December 2022.
• 동아방송예술대학교 (Donga University of Broadcasting and Arts)minorStrategic or Co-development Partner · 1 June 2023WHYNOT Media signed an industry-academia cooperation MOU with 동아방송예술대학교 in June 2023, fostering talent development and collaboration with educational institutions.
• 코분샤 (Kobunsha, Japan)minorStrategic or Co-development Partner · 1 June 2023WHYNOT Media signed an MOU with Japan's major publishing house 코분샤 (Kobunsha) in June 2023, expanding international collaboration in the Japanese market.
• NHNcoreStrategic or Co-development Partner · 1 January 2023NHN and WHYNOT Media entered into a global webtoon production agreement in January 2023 for the web drama '키스요괴' (Kiss Yokai), combining NHN's webtoon IP with WHYNOT Media's content production capabilities.
• 신한은행 및 신한캐피탈 (Shinhan Bank and Shinhan Capital)minorStrategic or Co-development Partner · 1 December 2022WHYNOT Media signed a content-linked business agreement with 신한은행 (Shinhan Bank) and 신한캐피탈 (Shinhan Capital) in June 2022, followed by a content planning and development investment contract with NEW in December 2022.
• NEWminorStrategic or Co-development Partner · 1 December 2022WHYNOT Media signed a content planning and development investment contract with NEW in December 2022.
• LG유플러스 (LG Uplus)minorStrategic or Co-development Partner · 1 December 2022LG유플러스 (LG Uplus) and WHYNOT Media signed a content planning and development contract in December 2022.
• The Great ShowcoreStrategic or Co-development Partner · 1 May 2022WHYNOT Media acquired The Great Show, a long-form drama production company, in May 2022. The acquisition aimed to enhance content production capabilities and pipeline for long-form dramas, targeting 4 to 5 high-quality dramas annually and expanding presence domestically and internationally.
• Name X Entertainment (네임엑스 엔터테인먼트)coreStrategic or Co-development Partner · 1 May 2022WHYNOT Media acquired a stake in Name X Entertainment, an animation company, in May 2022, expanding its content portfolio into the animation genre.
• AbemaTV / CyberAgent (Japan)coreStrategic or Co-development Partner · 1 April 2022Japanese OTT platform AbemaTV (operated by CyberAgent) co-produced '배드걸프렌드' (Bad Girlfriend) with WHYNOT Media in April 2022. The co-production expanded WHYNOT Media's presence in the Japanese market.
• OZ Arena (오즈아레나)coreStrategic or Co-development Partner · 1 December 2021WHYNOT Media acquired OZ Arena, a long-form drama production company, in December 2021, strengthening its long-form drama capabilities.
• 덱스터스튜디오 (Dexters Studio)minorStrategic or Co-development Partner · 1 October 2021WHYNOT Media and 덱스터스튜디오 signed an MOU in October 2021 for joint development and production of new media content.
• 컴업 스타즈 (Comup Stars, Global Startup Festival)minorGTM or Marketing Partner · 1 September 2021WHYNOT Media was selected as a startup at the Global Startup Festival 'Compup Stars' in September 2021, gaining visibility in the global startup ecosystem.
• 채티 (Chati)minorStrategic or Co-development Partner · 1 May 2021WHYNOT Media and 채티, a chat-based social service, co-hosted a 'Web Drama Writer Contest' in May 2021.
• 키이스트 (KIX)coreStrategic or Co-development Partner · 1 March 2021WHYNOT Media and 키이스트 signed an MOU in March 2021 for joint content co-production, strengthening the partnership that began with the Series pre-C investment.
• 젠플릭스 (Zenflix)minorChannel Partner/ Reseller/ Distributor · 1 January 2020WHYNOT Media's original series '오피스워치' (Office Watch) was remade and broadcast in Indonesia through 젠플릭스 (Zenflix) in May 2020, expanding into the Southeast Asian market.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Studio Dragon: KOSDAQ-listed Korean drama production powerhouse (subsidiary of CJ ENM) producing premium K-dramas for Netflix, tvN, and global platforms. Directly comparable as a Korean content production studio distributing to OTT, but at significantly larger scale.
• JTBC Studios: Korean content production and distribution arm of JTBC Group, producing dramas, entertainment, and film for domestic and international platforms. Comparable in multi-genre production and OTT distribution focus, with broader parent-group resources.
• Kakao Entertainment: Major Korean entertainment conglomerate producing and distributing drama, music, webtoon, and animation IP globally. Comparable in multi-genre Korean content production and international OTT distribution, but at substantially larger scale.
• CJ ENM: Korean media conglomerate operating tvN, producing and distributing premium K-dramas, entertainment, animation, and film globally via partnerships with Netflix, Disney+, and other platforms. Broader incumbent competing for the same international OTT content supply.

Direct peers

• Playlist Global: Korean web drama and digital content studio known for short-form and series content distributed on Naver, YouTube, and OTT platforms. Closely comparable to WHYNOT Media in scale, genre mix, and digital-first distribution model.
• SLL (formerly Drama House Studio): Korean drama production studio (CJ ENM-affiliated) producing long-form series for domestic and international OTT platforms. Direct peer in Korean drama production with comparable target customers and platform relationships.
• IOK Company: Korean drama and film production studio with titles distributed on domestic and international OTT platforms including Netflix. Direct peer in mid-tier Korean production serving global streaming partners.
• Number Three Pictures: Korean drama production company with content distributed via domestic and international platforms. Comparable mid-tier Korean production studio targeting OTT distribution and global content licensing.
• Hwa&Dam Pictures: Korean content production studio producing drama and entertainment programming for domestic broadcasters and OTT platforms. Comparable in Korean drama production targeting digital and broadcast distribution.
• Mega Monster: Korean web drama and digital content production studio with titles distributed on Naver, Wavve, and other OTT platforms. Direct peer in digital-native Korean content production for streaming audiences.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCybPxZoFDPR1qbN04daAc2g
• Facebookfacebook.com/콬TV-227849523977652
• LinkedInlinkedin.com/company/whynot-video
• Instagraminstagram.com/koktv_official

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds4 records

Investors17 records

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

M&A1 record

Investments

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

Frequently asked questions about WHYNOT Media