NBCUniversal Signs for Korean Content With Wavve OTT Platform
South Korean video streaming platform Wavve is to supply Korean content to NBC Universal, under a deal announced on 14 April 2020.
Content Wavve is a consortium established last year involving the country’s three terrestrial broadcasters, KBS, MBC and SBS, and local telecoms firm SK Telecom.
The supply deal has an initial life span of three years and covers films and TV series. Content could appear on NBCUniversal’s own streaming service Peacock from May, the companies said.
The two groups also said that the agreement involves co-investment in Korean content development and production.
Content Wavve said it plans to spend US$50mil (KRW60 billion) this year on original content production. That is a six-fold increase from the KRW10 billion figure touted when plans for Wavve were first announced in January 2019.
Image Credit: NBCUniversal