ZOO looks to capitalise on market opportunities with acquisition
ZOO Digital Group, which offers cloud-based localisation and digital media services to the entertain industry is launching a new Korean operation.
The move follows a strategic investment of 51 per cent in the Sheffield-based company’s long time partner WhatSub Pro.
ZOO Korea will provide an in-territory servicing hub and looks to address the growing global demand for Korean content and distribution of non-Korean titles in the country with high-quality, secure dubbing, subtitling, quality control and media services.
The launch will ensure ZOO, which has benefitted from the growth in global entertainment in recent years and saw revenues up 64% in its six month trading update, is “even better placed” to support its global clients with localisation to and from Korean.
The investment comes as Korean series Squid Game – the most watched Netflix show in more than 90 countries – has highlighted the international appeal of Korean content and the value of local content to streaming companies building their presence in new markets.
Growth in the Korean market has also seen Disney+ announce plans to create more than 50 Asia Pacific original productions by 2023, while Netflix is reported to have spent more than $1 billion on original Korean programming since 2015, including $500 million in 2021 alone.
The acquisition of WhatSub Pro, a Seoul-based language services provider and its transition to ZOO Korea forms part of ZOO’s global growth initiative to support major content creators and streaming services, which it first highlighted in October.
Stuart Green, chief executive ifficer of ZOO Digital, said: “Korean content is becoming increasingly popular in global entertainment, garnering new audiences due to its high production values as viewers embrace foreign-language shows and movies. ZOO Korea will help our clients create the very best localised versions of this content and capture the imagination of new global followers and fans.
“With this investment, we can meet growing demand from our clients by offering an immediate established presence with a reputation for delivering high quality within the entertainment industry, fully integrated with ZOO’s global ecosystem. This makes it easier for global companies to localise their content for Korean audiences, as well as helping local Korean content to reach new audiences around the world.”
Jonghyun Oh, managing director, ZOO Korea / WhatSub Pro added: “ZOO Korea opens up new possibilities for content owners in the region and for the biggest players in global entertainment. With this strategic investment, we will be delivering our extensive local knowledge and dedication to cultural authenticity, now backed by ZOO’s global reach and innovative technology.
“With the boom in video streaming services and the growing popularity of Korean content, there is a huge demand for experienced, proven media translators and dubbing artists. Now more than ever, content owners need dedicated talent, and this partnership will enable ZOO Korea to retell stories authentically on a global scale. We’re ready to be the go-to provider of Korean-language localisation and media services to the biggest names in the entertainment industry.”
