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K Wave Media Subsidiary Solaire Partners Selected to Manage $28 Million IPTV Fund, Signaling New Era for K-Content Market
The venture capital firm behind ‘Parasite’ and ‘Spring of Seoul’ will manage a joint fund backed by Korea’s three leading IPTV operators, aiming to finance
About this update from K Wave Media, Ltd.
[{"type":"text","content":"The venture capital firm behind ‘Parasite’ and ‘Spring of Seoul’ will manage a joint fund backed by Korea’s three leading IPTV operators, aiming to finance 3–4 major films each year.\nNEW YORK and SEOUL, South Korea, Sept. 05, 2025 (GLOBE NEWSWIRE) -- Solaire Partners, a subsidiary of K Wave Media (NASDAQ: KWM) and the venture capital firm known for investing in acclaimed films 'Parasite' and '12.12: The Day', has been selected as the general partner (GP) to manage a KRW 40 billion (~USD $28 million) fund jointly financed by Korea's three major IPTV operators—KT, SK Broadband, and LG Uplus. The fund formation represents a strategic initiative to revitalize the IPTV VOD (Video on Demand) market, which has faced challenges from the rapid growth of OTT platforms, and to establish a sustainable ecosystem for Korea's video content industry. Key Highlights of the Fund • Strategic Focus: The 'Solaire IPTV Video Investment Fund' aims to secure high-quality content optimized for IPTV platforms while accelerating the delivery of the latest releases to viewers. • Market Context: The IPTV market has experienced a significant revenue decline in paid VOD, particularly in the film genre, due to content supply delays and viewer migration to OTT platforms. IPTV dropped from the second most popular method for movie viewing in 2018 to fourth place in 2023. • Investment Strategy: Solaire Partners plans to: Focus investments on top-performing genres in IPTV paid VODAdjust holdback periods through main investments to enable earlier content distributionDiversify content portfolio across dramas, variety shows, and other genresInvest 3-4 films annually as the main investorTarget AI, VFX, and content technology companies for future growth Proven Track Record Solaire Partners brings over 13 years of accumulated film industry data for quantitative analysis, combined with qualitative insights from a team with over 100 years of collective content industry experience. The firm's portfolio includes blockbuster successes such as 'Parasite', '12.12: The Day', 'Exhuma', and 'The Roundup: No Way Out'. Strategic Vision & Growth Opportunities Following KWM's recent acquisition of AI-powered digital content company Rabbit Walk, this fund management appointment strengthens the group's value chain spanning content production, investment, and marketing. “This milestone ...