Spoon Labs, a global short-form drama platform company, has secured a 120 billion KRW (approximately 90 million USD) investment from Krafton. This is Krafton’s largest investment in non-core business diversification to date.

Spoon Labs operates the audio platform Spoon, which serves users around the globe. Recently, the company expanded its business into short-form drama with the launch of “Vigloo,” a dedicated platform for short-form content, typically under two minutes. Vigloo operates as an OTT (over-the-top) service, similar to other global OTT platforms, offering curated content tailored to the preferences of different regions. It supports seven languages: Korean, English, Japanese, Traditional Chinese, Spanish, Thai, and Indonesian.

Krafton recognized Spoon Labs’ robust platform technology and its successful track record in global services. The decision to invest was driven by the growth potential of the short-form drama market, the opportunity to acquire new intellectual property (IP), and synergies with Krafton’s existing businesses. The short-form drama market is rapidly expanding, especially in China, where it is valued at around 7 trillion KRW (approximately 5.2 billion USD), with significant growth also seen in the U.S. and Japan. Krafton believes that Vigloo’s Korean content could extend the Hallyu (Korean Wave) phenomenon into the short-form drama space.

Krafton CEO Changhan Kim said, “Spoon Labs has already proven its strong international business capabilities through Spoon over the past few years. We hope that they will continue to discover entertainment that resonates globally and help build the industry ecosystem through their new short-form drama platform.”

Hyukjae Choi, CEO of Spoon Labs, added, “Starting from audio and expanding into video, Spoon Labs is quickly solidifying its position as a global content platform. We plan to enter the U.S. and Japanese markets, and together with Krafton, we aim to set new international standards in the short-form drama sector.”

Spoon Labs has collaborated with numerous production companies, releasing 60 exclusive pieces of content on Vigloo so far, with plans to reach 120 by the end of the year. Beginning this month, the company will also intensify its marketing efforts in Japan and the U.S., alongside the launch of original Japanese content.