Kakao Entertainment acquires film and advertising studios to beef up storytelling capability

SEOUL -- To become the main player in South Korea's commercial video content market, the entertainment wing of South Korea's web service giant Kakao has acquired a 100 percent stake in two video studios that create popular content. Kakao will produce new commercial content through the newly-acquired companies. 
 
Kakao Entertainment said in a statement on December 21 that the company acquired the two Seoul-based video content production studios -- Dolphiners Films, and STUDIOK11o -- to beef up the company's intellectual property-based storytelling commercial video content businesses. 
The acquisition is part of Kakao's plan to establish a content universe interconnected by various platforms including mobile, PC, and television. Kakao released "Kakao Page," a one-stop smartphone entertainment app that offers paid services for films, novels, web cartoons and animation. The app has about 9.5 million monthly average users.
 
Dolphiners' Film is a film and advertisement studio famous for its commercial films that promote video games and other products through ingenious storytelling. Commercial films produced by Dolphiners' Film became huge hits on YouTube to garner hundreds of thousands of views.