Dramafever Video on Demand
Essay Preview: Dramafever Video on Demand
Report this essay
Case Study: DramaFeverCase Overview:   Video on Demand(VOD) market has been growing on a face pace. Along with the growth of the market, a few companies found the niche market that eventually brought money and success for their business. K-pop, Korean drams and movies has been beloved by lots of people around the globe for past few years and until now. One of the most famous companies that provides customers with Korean contents is DramaFever and other companies as well. Since DramaFever is the market leader, they need to solidify its stance in the market by providing various contents for the viewers. Should they be starting to provide lots of options for customers in terms of US contents instead of just sticking with Asian, especially Korean contents?Company: DramaFever   DramaFever is a company that provides video streaming service to its customers. The company was founded by Suk Park and Seung Bak in New York in 2009. It began with only one Korean Drama series however, they now are providing not only Korean dramas but Latino, Taiwanese, Japanese, Chinese and British dramas. DramaFever’s library approximately 15,000 episodes from 70 different providers as well as 15 different countries and now they are reaching 20M views. Viewers can watch the contents either by paying or for free but there are limited contents when it comes to free watching. The company provides a few options of plans: Rookie priced at $0.99, Idol which is $4.99 and Superstar which is either $9.99 monthly or $99.99 for a full year. The company also has a record of increasing its viewer by 440% in 1 year in 2014. They also recently began to provide BBC Dramas. The company was bought by SoftBank in late 2014, then now it’s owned by Warner Bros. since early 2016. Right before being purchased by SoftBank, they made an agreement about the license with Showbox and Lotte in 2014 as well and then before Warner Bros acquired the company, it also made a deal with CJ E&M for 350 plus hours of Korean Shows and Films for distribution rights in the U.S. and Canada, along with the rights to redistribute it thru Hulu and iTunes.
DramaFever once outranked both Netflix and Hulu on monthly minutes viewed per average subscriber. DramaFever was at 3234 minutes, on the other hand, Netflix was 644 minutes and Hulu was 223 minutes. The reasons behind of this extraordinary situation is because of the Hallyu. Lots of people all over the world are obsessed with not only K-pop but K-dramas and Korean movies and they tend to get really into it once they hooked on. DramaFever demographic shows that its main viewers are Whites which takes 40% followed by Latino/a by 30%, Black by 15% and then Asian by 15% as well.Competitors: Viki, Kocowa1. Viki   Viki was launched in 2010 and was known for fan-created subtitles and active online community. The company was acquired by Rakuten, a Japanese company, in 2013 and now the company has 35M active users all over the globe. Viki provides subtitles in over 200 different languages since their subtitles were originally created my fans and tune in over 190 countries. The company also has a selection of non-Korean dramas, but it doesn’t provide as much as DramaFever does. Just like DramaFever, Viki also offers free accounts and free users have access to its contents with ads. However, for a certain categories or movies, it restricts free users’ access. Viki also provides 2 options of paid subscriptions. The Viki pass which is $4.99/month or $49.99/month. Viki pass provides full HD with no ads while watching. The other is Viki pass plus which also gives access to Kocowa which is a company that has recently got into the market which also will be explained next. The Pass plus charges $9.99/month or $99.99/year. This plan unlocks the Kocowa-exclusive episodes on the Viki app. In accordance with their website, the exclusive episodes are over 14.000 hours of additional content. But this plan only provides customers access to the limited content which means, this plan doesn’t provide full access to Kocowa. It just simply unlocks certain amount of contents.