Krafton hq tower (Image courtesy of Krafton)
SEOUL, Sept. 12 (Korea Bizwire) – Krafton, the South Korean video game powerhouse behind global hit “PlayerUnknown’s Battlegrounds,” is making a significant pivot into the rapidly growing short-form drama market, signaling a major diversification effort for the company.
On September 11, Krafton announced a 120 billion won equity investment in Spoonlabs, a company known for its audio platform Spoon that has recently expanded into the short-form drama space with its dedicated platform Vigloo.
Vigloo specializes in dramas with episodes running about two minutes each, targeting the increasing global appetite for bite-sized entertainment. The platform supports seven languages, including Korean, English, Japanese, Chinese, Spanish, Thai, and Indonesian, positioning itself for a global audience.
This investment marks Krafton’s largest venture outside the gaming industry, underscoring the company’s commitment to diversifying its portfolio. The move comes as the short-form video market, popularized by platforms like TikTok, continues to see explosive growth worldwide.
Kim Changhan, CEO of Krafton, expressed confidence in the partnership, citing Spoonlabs’ proven track record in global operations through its Spoon platform. “We expect to discover entertainment that can be enjoyed by people around the world and create an industry ecosystem,” Kim said in a statement.
Krafton’s interest was piqued by Spoonlabs’ stable technology, successful global service experience, the growth potential of the short-form drama market, and the possibility of synergies with Krafton’s existing business through the acquisition of original intellectual property.
Spoonlabs has already exclusively released 60 videos on Vigloo, collaborating with numerous production companies. The company plans to showcase around 120 titles by the end of the year.
Choi Hyuk-jae, CEO of Spoonlabs, outlined ambitious plans for the future. “We are planning to enter the U.S. and Japanese markets,” he said. “Together with Krafton, we aim to set a new international standard in the field of short-form dramas.”
Kevin Lee (kevinlee@koreabizwire.com)
