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video streaming service providing on-demand access to Asian dramas, movies, documentaries, and TV shows with subtitles for Asian content fans.
DramaFever was a New York-based video streaming service that provided on-demand access to subtitled Asian television shows, movies, and documentaries. Operating across 12 countries, the platform offered a library of approximately 13,000 episodes through both free ad-supported viewing and premium high-definition subscriptions. In addition to licensing content, the business co-produced original Korean dramas such as The Heirs and Naeil's Cantabile. The company raised $12 million in initial funding before being acquired by SoftBank for approximately $100 million in 2014. Warner Bros. subsequently purchased the platform in 2016, and it generated $25 million in revenue during 2018 before its parent company was acquired by AT&T. Following rising licensing costs and market changes, the service was shut down in October 2018, having been originally founded in 2009 by Seung Bak, Suk Park, and Hyun Park.
DramaFever has raised $7.0M across 2 funding rounds.
DramaFever has raised $7.0M in total across 2 funding rounds.
DramaFever was not a technology company in the traditional sense, but rather a video streaming platform that operated as a media service subsidiary.[1] The premise of your query contains an inaccuracy that's worth clarifying.
DramaFever was an on-demand streaming service that specialized in Asian dramas—primarily Korean, Chinese, and Japanese television content.[1] Rather than building technology infrastructure, the company's core business was licensing and distributing drama content to viewers through both ad-supported and premium subscription models.[1] The platform served drama enthusiasts who had previously relied on pirated content, offering legal access to subtitled shows across multiple devices.[1]
The service operated for nine years before being shut down on October 16, 2018, following a series of ownership changes that ultimately made the business model unsustainable under its final corporate parent.
DramaFever was founded by Seung Bak and Suk Park, who established a symbiotic partnership with Bak managing the US division and Park overseeing South Korean operations.[2] The platform launched on August 6, 2009, built directly on feedback from drama fans who had frequented pirated sites.[1] The founders successfully grew the startup from a small operation with limited content into a multi-million dollar company with hundreds of programs.[2]
The company raised approximately $12 million from investors before being acquired by SoftBank in October 2014 for roughly $100 million, demonstrating significant investor confidence in the streaming model.[1] SoftBank subsequently sold the platform to Warner Bros. in mid-2016.[1]
The critical turning point came in June 2018 when AT&T acquired Warner Bros. and all its programming services, including DramaFever.[2] Under AT&T's ownership, the economics of the business deteriorated rapidly. According to industry sources, licensing costs were cited as the primary reason for the shutdown, though AT&T's broader strategy to build its own streaming service likely accelerated the decision to divest from a specialized platform.[2] The service was officially discontinued on October 16, 2018, with remaining content migrated to VRV (another streaming service) until November 1, 2018.[1]
DramaFever's closure illustrates how even successful niche streaming platforms struggle when acquired by larger conglomerates pursuing different strategic priorities, particularly in an era of consolidation around major streaming competitors.
DramaFever has raised $7.0M in total across 2 funding rounds.
DramaFever's investors include Andreessen Horowitz, Bling Capital, Bora&Sons, Coatue, Craft Ventures, ff Venture Capital, Founders Fund, Frontier Ventures, Gaingels, Great Oaks Venture Capital, Hitachi Ventures, MK Capital.
DramaFever has raised $7.0M across 2 funding rounds. Most recently, it raised $6.0M Series B in June 2012.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2012 | $6M Series B | — | Andreessen Horowitz, Bling Capital, Bora&sons, Coatue, Craft Ventures, FF Venture Capital, Founders Fund, Frontier Ventures, Gaingels, Great Oaks Venture Capital, Hitachi Ventures, MK Capital, Science, Softbank Group, Streamlined Ventures, SV Angel, Trajectory Ventures, UpHonest Capital, Walden Catalyst Ventures, Y Combinator, Jared Leto, Jeff Bezos, John Legend, Nils Johnson, Paul Graham, Richard Branson, Ryan Spoon, SAM Altman, Allen Debevoise, Benjamin Ling, Jeff Fluhr, Matt Coffin, Randall Winn, Stephano KIM, Steven Turner, Steve Zhao, AMC Networks, Bertelsmann Digital Media Investments, NALA Investments | Announced |
| Mar 1, 2011 | $1M Series U | — | Bling Capital | Announced |