Video Monster (CEO Jeon Dong-hyuk), which was selected in the daily consumption category of the National IT Industry Promotion Agency (NIPA)’s ‘2023 Non-face-to-face Leading Service Activation Project in Lifestyle-related Fields’, has been providing a short-form video production platform for B2B marketing based on motion graphic templates since 2019. I have been running ‘Video Monster’. The cumulative number of downloads is more than 1 million, and Series A investment of more than 5 billion won has been completed.
Starting in 2022, we are developing and servicing ‘ViiV’, a travel video shorts platform for B2C. Currently, about 28 people specializing in video, global business, and development are working to achieve Video Monster’s goal of ‘Video For All’.
‘ViiV (hereinafter referred to as ViiV)’ is a video service that allows you to make commerce reservations such as accommodations and travel products before travel based on video review content, recommends local travel and tourist attractions during your trip, and easily creates video reviews after the trip. It is a travel content platform based. Currently, it has secured a cumulative number of downloads of about 200,000 people and has more than 15,000 reviews of travel attractions focusing on Korea and Japan. We have secured a B2B model that sells commerce reservation fees and video API data, and are developing business in Japan by signing travel partnerships in Fukuoka and Tokyo, Japan.
In relation to this, a Video Monster official said, “There was no platform where the general public could easily create and share video reviews about travel, and even make reservations using those video reviews. The reason is that videos cannot be easily produced,” he said. “Video Monster has been developing video editing and sharing technology since 2019, and has acquired the relevant technology. “Through Viv, users can easily obtain travel information through video, make reservations, and easily secure video reviews after the trip,” he explained.
Video Monster also has the goal of providing various technologies and data needed in real life through Viv. Using the travel video data within Viv, corporate partners can retrieve review videos related to location-based places (restaurants, hotels, accommodations, tourist attractions, amusement spaces, etc.) in API format and use them in their businesses. As a result, users of these companies can enjoy video reviews of spaces that are more realistic and lively in real life.
Currently, Viv has accumulated more than 200,000 downloads, more than 15,000 MAU, and also has more than 15,000 videos on the platform. In addition, about 100 Korean and Japanese travel creators active within the Viv ecosystem are actively forming the ecosystem and producing videos to communicate with Viv users. Based on these achievements, we have signed creator and video utilization contracts with some mid-to-large travel agencies, OTAs, and hotels in Korea, and are discussing the use of creators with local governments such as Fukuoka Prefecture and Saga Prefecture in Japan. In addition, the plan is to conclude investment and corporate partnerships through demo days in Tokyo and Fukuoka, Japan, within the year.
An official said, “Viv is focusing on Korea and Japan, targeting travelers traveling to both countries. Japan and Korea are the closest countries geographically and economically, and commerce such as hotel and travel product sales is actively taking place. “We are currently planning to provide commerce to app users through an API contract with Rakuten Travel xChange in Japan, and we plan to provide B2B creator marketing to local governments in Japan and Korea.”
Meanwhile, the National IT Industry Promotion Agency (NIPA, Director Heo Seong-wook) aims to promote the distribution of non-face-to-face services in areas closely related to people’s daily lives, such as business, daily consumption, education/evaluation, and well-being/health in the pandemic era. We are pursuing a ‘service revitalization project’. Starting in 2021, as the non-face-to-face digital economy accelerates across the economy and society in response to the great digital transformation in the post-corona era, this project will select and support key investment areas focusing on services that urgently require non-face-to-face transformation. Video Monster was selected in the daily consumption category.