LG U+ invests in kids animation studio SAMG Entertainment
LG U+ is investing in local kids animation studio SAMG Entertainment, the telecom company said Tuesday.
With the investment, LG U+ acquired SAMG Entertainment’s company shares, though the company did not disclose the amount of its stake or the size of its investments.
The goal is to enhance the kids’ content business, according to LG U+. The companies will cooperate on kids-related businesses involving a theme park, video content, smart devices and others by 2023.
Founded in 2000, SAMG Entertainment is one of Korea’s major children's animation studios. The company produced the 3-D animation series “Mini Force” and “Catch! Teenieping” and contributed to the production of “Miraculous: Tales of Ladybug & Catnoir,” a popular French animated series.
SAMG plans to introduce a video streaming service specializing in kids content this year, and later expand the business to the global market through LG U+’s smart TV service.
The two companies will also co-develop smart devices for children using SAMG’s original characters.
LG U+ also said they are considering co-investing in a theme park project and producing an animated movie.
“SAMG is a company that is highly influential in a global market, with a total of 36 million YouTube subscribers and combined views of over 28 billion on video streaming services such as China’s Tencent, Youku and iQIYI,” said Lee Deok-jae, LG U+ chief content officer.
“We are glad that the two companies could come together through the investment to create a strong synergy for the kid content business,” said Kim Su-hoon, SAMG Entertainment CEO.
LG U+ recently invested in other studios specializing in children’s animations such as Dream Factory Studio and Monster Studio to expand its range of kid's TV programs on its IPTV.
BY SHIN HA-NEE [email@example.com]