Would bolster the Japanese firm’s grip on the much-desired millennial viewers.
Japanese telecom company SoftBank has boosted its focus on entertainment with the latest acquisition of Korean video streaming start-up DramaFever.
The latest purchase of DramaFever, which streams media content from over 70 major broadcasters and studios across Asia, Europe and the US, would bolster the Japanese firm’s grip among the much-desired millennial viewers.
SoftBank vice chairman Nikesh Arora said: "DramaFever has built an impressive internet-based streaming video business operating at scale.
"Seung Bak and Suk Park have a proven business model in a dynamic industry, and we look forward to helping them bring their highly popular video content to an even larger global audience."
Since its establishment in 2009, DramaFever had raised $12m funding from investors including AMC Networks, SoftBank Ventures,Bertelsmann, SoftBank Ventures and YouTube co-founder Steve Chen, while attracting ads from big brands including Toyota, Verizon and AT&T.
Claimed to be the largest online-video distributor of international TV content with a library of 15,000 episodes of 700 shows, DramaFever also owns rights to online content exclusively on the same day or the day after being broadcasted.
DramaFever co-founder and Co-CEO Suk Park said: "This is a triumphant day for our content partners who have demonstrated that engaging stories and characters transcend languages and borders.
"It is also a great day for our viewers, who can continue to expect DramaFever to bring them the best series and movies from around the world.
"With the support of SoftBank, we will be further empowered to curate the content that our increasingly global audience of young, passionate viewers loves."