WATCHA Enters Corporate Rehabilitation Process

The domestic OTT platform WATCHA has ultimately entered the corporate rehabilitation process.

WATCHA started as a movie rating platform in 2016 and launched its service as 'WATCHA PLAY' at the time of the OTT platform launch. In July 2020, it restructured the OTT platform to 'WATCHA' and the existing rating platform to 'WATCHA PEDIA', continuing to this day.

Like other platforms, WATCHA provided various original content to differentiate itself. It showcased short films directed by actors titled 〈Unframed〉, a black comedy depicting the reality of small businesses titled 〈Good Good〉, an adaptation of the webtoon titled 〈King of the Desert〉, and a live-action adaptation of the BL web novel titled 〈Semantic Error〉. Additionally, it imported critically acclaimed films from abroad such as 〈Swallow〉, 〈Annette〉, 〈Titan〉, 〈Where is My Home〉, and 〈After Yang〉, presenting them under the brand 'WATCHA Exclusive'.

However, due to repeated management deterioration, investor Inlight Ventures filed for rehabilitation, and the court sided with the investor. WATCHA expressed its intention to improve through negotiations, but the court made a decision to commence rehabilitation proceedings on August 4.