Chapter 374 |
Creating a platform with features similar to A-Tube isn't particularly difficult. However, creating a platform like A-Tube is incredibly challenging.
A-Tube already has a massive concentration of creators and users. Enough video content to watch for over 20 years is uploaded every single day.
If you want a large audience, you have to upload your videos to A-Tube. If you want to watch a wide variety of videos, you have to use A-Tube.
Countless companies advertise on A-Tube, and A-Tube distributes the advertising revenue to video creators. This incentivizes A-Tubers to create more entertaining content to earn more, which in turn attracts even more viewers.
"That's only possible because they've already secured a massive user base. It's not something you can achieve just by throwing money at it. And it's not like Gooble is a company that can be outspent."
Taekgyu said, "But couldn't we capture the game streaming market that utilizes Seruana? Game streaming requires the game company's permission, and we're the ones holding that key, aren't we?"
If we create a specific platform and only permit Seruana game streaming there, both those who want to create content and those who want to watch it will inevitably flock to our platform.
"That's true, but how many would actually come?"
Taekgyu spoke with conviction. "A role-playing game is a form of acting. It started with TRPGs, where ordinary students or office workers would role-play as wizards or knights. And an MMORPG, a massively multiplayer online role-playing game, is a gathering of an enormous number of such characters. So, a VRMMORPG enjoyed by hundreds of millions isn't just a game; it becomes a world and a history in itself. In that case, wouldn't countless people want to share what happens within it, and wouldn't others want to know?"
Was I thinking too narrowly, confined by the framework of it being 'just a game'? As Taekgyu said, this isn't just a game; it's a vast world. Perhaps a single game could generate the kind of content Disney has built up over decades.
Disney continuously creates new content using its existing animations and characters: theme parks, character merchandise, musicals, live-action films, and so on.
Marvel, now owned by Disney, sold the Spider-Man movie rights to Sony Pictures for a mere $10 million about 20 years ago. At the time, Marvel was in dire financial straits and had little interest in filmmaking. Interestingly, Marvel had offered to sell the movie rights to all their other characters for $25 million, but Sony Pictures declined and only took Spider-Man.
When Sony Pictures' Spider-Man film series became a massive hit, Marvel established its own studio and began producing films with its other characters. Now, they earn profits in the billions of dollars per film.
This shows how content, depending on how it's utilized, can continuously generate new revenue streams.
The success of Seruana will not only expand the game market but also significantly grow the game streaming market, with countless creators naturally and competitively producing content.
If we just let this happen on A-Tube, we'd only be doing Gooble a favor.
If we can exclusively broadcast content enjoyed by hundreds of millions, couldn't we build a platform based on that which could compete with A-Tube?
Taekgyu shrugged. "Well, if not, then never mind."
I shook my head. "No, that's an excellent idea."
***
I looked into related materials.
Video-sharing platforms, including A-Tube, were focusing on securing game-streaming creators and attracting exclusive content.
There was already a significant amount of content related to Lost Fantasy. Unlike movies or dramas, which are reviewed and discussed after release, games can continuously generate new video content through gameplay.
While we were making money from our games, A-Tube was also generating revenue using our games.
Well, it wasn't bad since it served as promotion, but...
In recent years, the content market has grown rapidly. While factors like advancements in internet, communication networks, and production technology played a role, the biggest reason was the decrease in working hours and the increase in leisure time. This, too, was due to significant increases in labor productivity through technological advancement. Working hours will likely continue to decrease, and the content industry will grow even further.
I called a meeting and summoned the team leaders. After hearing my explanation, Senior Sang-yeop said, "But isn't gaming somewhat lacking in mainstream appeal?"
Unlike movies, dramas, and animations, which almost everyone enjoys, games are generally played only by gamers.
No matter how successful Lost Fantasy Mobile and Online were, many among the general public either don't know about them or aren't interested.
Taekgyu said, "Conversely, that means there's a high potential for market expansion."
I said with conviction, "The VRMMORPG Seruana, which OTK Games is releasing, will definitely succeed. It will transcend gaming to become a genre of popular culture enjoyed by people worldwide."
Team Leader Seo Sang-hyun asked, "How many users do you predict it will have?"
"Around 500 million, perhaps?"
At my words, everyone looked incredulous. It's understandable; the idea of roughly one-tenth of the world's population playing the same game would be hard to believe.
Taekgyu said, "That number isn't impossible at all. We have Korea and Japan, of course, but also the US, China, and India. In fact, it's highly likely to be even more successful in emerging or developing countries, as gaming is one of the most cost-effective leisure activities."
"But don't you need various types of equipment to run the game? That would be a considerable expense for workers in emerging countries."
Taekgyu replied as if it were obvious, "That's what PC bangs (internet cafes) and PlayStation rooms are for."
Considering how much money PC bang owners raked in during the early days of StarCraft, this too could be a promising derivative industry.
While they seemed skeptical about the user numbers, everyone agreed on the need to anticipate the economic, cultural, social, and industrial changes following the game's success and prepare accordingly.
Taekgyu asked the PR Team Leader, "We're thinking of creating a game video sharing platform. Are there any good candidates [companies to acquire/partner with]?"
Team Leader Jung Gi-hong replied energetically, "I'll look into it right away, Vice President!"
***
As part of its social contribution activities, OTK Company collaborated with Golden Gate to create OTK Gate. This is a co-working office space that supports startups. It doesn't just share office space but also provides legal services—from incorporation, partnership agreements, patent acquisition, equity sales, company sales, to dissolution—as well as various business consultations and connections to angel investors.
Initially launched in Gangnam, OTK Gate later expanded to Gangbuk and the Seoul metropolitan area, and now has branches in major metropolitan cities.
Korea's co-working office market was, in reality, closer to short-term office rentals. While there were advantages like reducing various incidental expenses such as real estate brokerage fees, utility bills, internet fees, and furniture purchase costs, the fees were still considerably high even taking those into account.
However, OTK Gate's fees were only about 20 percent of the typical cost, while offering superior facilities and services. This is why, despite continually expanding its space, the number of entrepreneurs wishing to move in was so overwhelming that a screening process was necessary.
When OTK Gate only had one location in Gangnam, it wasn't a major issue. But as it expanded nationwide, existing co-working space businesses expressed dissatisfaction. However, they too made efforts to differentiate themselves by lowering rental fees and enhancing services.
As the startup environment significantly improved, more young people ventured into entrepreneurship.
Korea has the disadvantage of a smaller market size compared to the US and China. However, it also has advantages: world-class internet speeds, smartphone penetration, and computer usage rates, with a staggering 20 million people concentrated in the Seoul metropolitan area. This makes it possible to experiment with new ideas and products.
Global IT giants dominate the overall internet market, including search engines, SNS, and shopping malls. However, if you looked closely, there were definitely niches to be found.
At OTK Gate, countless entrepreneurs were striving to find new opportunities every day. The most successful company to emerge from here was PoolRiding, which created a carpooling service.
This startup, founded by students from Korea University, was acquired by K Company for 15 billion won. It now dominates Korea's mobility market with services like ride-sharing and car-sharing under the K Mobility brand.
This served as a great inspiration to other entrepreneurs. They witnessed firsthand that success was achievable with a good idea and the ability to execute it.
Yeom Tak-hun, a Korea University electronic engineering graduate working at a large corporation, was feeling disillusioned with corporate life. He met some like-minded colleagues, resigned, and jumped into the world of startups.
Fortunately, he also succeeded in securing a spot at OTK Gate.
Their idea was an app that would allow anyone to easily create and share videos.
As A-Tube grew larger, it became difficult to attract subscribers without professional-level video shooting and editing skills. Academies even sprang up to teach these skills professionally.
So, they developed an app that allowed users to shoot short videos with their smartphones, edit them, and easily add various effects or background music.
The idea was good, but the path of a startup was not easy. The biggest challenge was funding. They met with investors and tried to persuade them, but most were skeptical due to the presence of many large, established companies in the field.
After lunch, Yeom Tak-hun and his employees booked a meeting room. "Since we don't have money for promotion, let's focus on strengthening community features to attract new users through word-of-mouth..."
However, towards the end of the meeting, it suddenly became noisy outside. Everyone turned their heads. "What's going on?" "What's happening?"
Someone shouted from outside, "Kang Jin-hoo is here!"
"What, Kang Jin-hoo?"
"He's coming up in the elevator now!"
"Wow! Really?"
The people in the meeting room were startled. Kang Jin-hoo had created OTK Gate, and his company was nearby. Even so, he was an incredibly busy person and rarely visited in person.
"Shouldn't we go out too?"
"We don't have much time left; if we go and come back, we might lose the meeting room."
"Is that important right now? We can continue the meeting at a cafe later."
"That's right. When else would we get to see Kang Jin-hoo's face?"
"R-right?"
In this industry, Kang Jin-hoo was no less than a superstar. No, he was beyond a star—a legendary figure.
He was the most famous investor of the 21st century and had become the world's richest person in his twenties. Even more astonishing was the fact that he had reached that position entirely on his own, without any inherited wealth.
There was even a joke that the only people in the world who underestimated Kang Jin-hoo were Korean politicians—that’s how renowned he was.
'Maybe I could even get an autograph?' Opportunities like this didn't come every day.
Yeom Tak-hun, who was about to rush out of the meeting room, realized there was no need. Because Kang Jin-hoo had just walked into their meeting room.
Yeom Tak-hun had often emphasized to his employees that he was five years Kang Jin-hoo's senior. But when they actually met, he bowed a full 90 degrees. "Good day, CEO Kang Jin-hoo. It is an immense honor to meet you like this."
The employees exchanged knowing glances, as if to say, "We knew it."
"Looks like you were in a meeting."
"Ah, yes. We were."
"I hope I'm not interrupting?"
"Oh, not at all! We're always grateful to be able to work in this space, thanks to you."
Kang Jin-hoo casually sat down in an empty chair. "It's nothing else, really. I'm just a bit interested in Tugobox."
"...Excuse me?" For a moment, he wondered if he had misheard and looked at his employees. Seeing their equally bewildered expressions, he realized he hadn't.
'Suddenly? Kang Jin-hoo is interested in our company?' Yeom Tak-hun unknowingly gulped.
In that instant, everyone in the meeting room had the same thought.
'Could this be... the opportunity of a lifetime?'