Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) hYUNJIN KIM Journalist = Watcha announced their plan for initial public offering in 2022 Watcha media day at GLAD Hotel Yeouido, Seoul today.

“We are consulting with our underwriter for initial public offering,” said the CEO, Taehoon Park. “The exact time is not yet settled. It will be this year, at the earliest.” And added, “Nothing concrete came about pre-IPO yet.”

On a question about investment for retaining content, he answered, “When TV programs and movies theaters prevailed, the huge investment was key to success.” Added, “Today’s over-the-top media market asks efficiency.” Nonetheless, “We have a plan to invest a certain amount in content, which worth hundreds of billions won for the next several years.”

He hinted that the detailed amount would be revealed after the debut.

Watcha’s consolidated sales for the last year stood at 72.3 billion won, which was an 82 percent increase from the previous year. He did not suggest this year’s revenue, saying, “the specific numbers require Watcha 2.0 plan outcomes and overseas sales. Thus, it is too soon to be estimated.”

NSP News Agency hYUNJIN KIM Journalist kimhj30310@nspna.com
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