NEW ID brings together its content distribution technology together with 39 degrees C Inc.’s real-time streaming broadcasting technology to expand its TV-based services across FAST, paid TV, OTT, mobile, and digital signage.
NEW ID (CEO June Park) announced on January 31st that it has completed the acquisition of the broadcast technology startup 39 degrees C Inc. (CEO Seung-won Woo). NEW ID has pioneered new avenues for the global distribution of premium Asian content, especially Korean content across major FAST and OTT platforms. The company currently owns and operates channels such as the first K-Pop FAST channel, NEW KPOP, Korean movie channel, NEW KMOVIES, and the only Korean food channel NEW KFOOD to platforms worldwide. Through this acquisition, NEW ID brings in the technology and expertise of 39 degrees C to expand its business into the broadcasting and commerce industry as a Software as a Service (SaaS) provider.
The main goal of this acquisition is to develop a business that builds synergy between different media platforms, such as paid broadcasting, OTT, and search platforms. 39 degrees C Inc.’s live-streaming broadcast solution can reduce the cost and time needed for conventional broadcast production by one-tenth. This is expected to be key in a media market that needs to increase the cost-effectiveness of content production. As their first project post-acquisition, the company will be launching a new FAST platform and entry into the Asian media market.
“In the endlessly competitive global media market, there is an urgent need for a technology bridge that enables ‘collaboration” between content and platforms,” said June Park, CEO of NEW ID. With the help of 39 degrees C Inc.’s excellent technical assets and teamwork in developing technologies related to broadcast production and real-time transmission for the past seven years, NEW ID will do its best to help various media companies take the next step and grow into media company that enhances the value of content and platforms.”
“With the technology services and expertise that 39 degrees C Inc. has developed and deployed, we will actively cooperate with NEW ID to grow into a technology partner that connects global audiences,” said Seung-won Woo, former founder of 39 degrees C Inc. and now head of NEW ID’s Digital Solutions Team. “The acquisition will introduce a new business model that expands the media and content-focused B2B business that NEW ID has been successfully leading to B2C.”
NEW ID is the first in-house venture of the media company NEW (Next Entertainment World, Chairman Woody Kim) and was founded to revolutionize content distribution and production. Since its establishment in 2019, it has been operating more than 80 CTV-based FAST (Free Ad-supported Streaming TV ) channels across North America, Europe, South America, Japan, and South Korea, based on direct partnerships with top 20 global media companies such as Amazon, Roku, Samsung, and LG, and more than 30 ad-tech companies.
News Source: EIN News