[Digital Today reporter Seulgi Son] "We will strengthen our role as a media startup hub that goes beyond individual-centered creation to encompass entrepreneurship, business and the industry ecosystem. We will work on practical support measures so young startups can perform on the international stage."
A playground for media creators has completed a revamp. It is marked by stronger incubation functions to foster a corporate-style one-person media industry, going beyond simply providing creation space.
On Jan. 21, Broadcasting and Communications Commission Chairman Kim Jong-cheol (김종철) said this at the opening ceremony of the Creator Media Complex, which has relocated to Magok. The complex, which started at Seoul Station and is marking its fifth year, is expanding its tenant scale to 40 companies and making a full-fledged leap into a media industry incubator.
It provides media startups founded within the past 5 years with independent office space and up to 80 free studio-use passes a year. The residency period is up to 2 years. Over the past 5 years, it has produced 87 startups, with cumulative revenue of 52.1 billion won, domestic and overseas investment attracted of 157.8 billion won, and 268 new jobs created. Twelve Labs, an AI startup that received 153.0 billion won in investment from Nvidia and others, is from the first cohort of tenant companies.
At a meeting, tenant companies voiced concerns from the field. Tenada, which has AI image-generation technology, said, "What is most difficult for startups is the global marketing budget and publicity methods," and suggested, "Please work to make the support direct."
Goodworklab, a multi-channel network (MCN) with 12 million subscribers, said, "It is very difficult to propose projects to local governments or public institutions," and asked for a bridge role between the government and local governments.
At a subsequent meeting, one-person media executives attended and shared on-the-ground difficulties. Seok-jae Jeon (전석재), CEO of Shuka World, said, "In the field, it is very difficult to find talent," and stressed, "It is urgent to raise awareness that this is a promising industry capable of high wages, like IT companies in the 1990s." He added, "Regulation to prevent some issues such as fake news must not dampen the entire industry."
Yeo-hyeok Joo (여주혁), CEO of the global sports channel Allblanc, said, "The advertising market is collapsing and it is being reshaped into a commerce model where creators sell products directly," adding, "It is essential to nurture content entrepreneurs with management capabilities."
Kim said, "I will work to secure a budget so support for global expansion can be direct," and added, "We will spread tenant companies' demand through a local government consultative body or regional broadcasters and help ensure working-level discussions continue."