Kim Min-seok, the CEO of Pinkfong, authorized the release of a 90-second children’s song clip in June 2016, which unexpectedly became a worldwide sensation. The song, known as “Baby Shark,” has amassed over 16 billion views, making it the most watched video on YouTube to date. This viral hit not only captivated young audiences but also propelled Pinkfong, which is now valued at over $400 million, into a successful media enterprise.
Founded in 2010 as SmartStudy, Pinkfong originally focused on creating digital content for children under 12, starting with just three employees. The company underwent significant changes, shifting its focus to younger children and eventually expanding to around 340 employees with offices in major cities, including Tokyo and Los Angeles. In 2022, the company rebranded itself to Pinkfong, inspired by a character from one of its early cartoons.
The origins of “Baby Shark” date back to the 1970s in the United States, where it was commonly sung at children’s summer camps. Media analysts noted that its repetitiveness appeals to children but can be grating for adults. The dance routine associated with the song gained traction primarily in Southeast Asia and contributed to its viral spread. After its release, “Baby Shark” generated about half of Pinkfong’s revenue and has served as a launchpad for the development of new content.
Despite its success, Pinkfong faced a legal challenge in 2019 over allegations of plagiarism, which South Korea’s Supreme Court dismissed, affirming that their version was derived from a public-domain folk song. As Pinkfong recently debuted on the Korea Exchange with shares climbing over 9%, its CEO expressed optimism about the company’s growth potential beyond “Baby Shark.” Other franchises like Bebefinn and Sealook are reportedly expanding quickly, although experts caution that the business must prove it is not solely reliant on its initial hit. With plans to invest the funds from its stock market launch into developing new characters and content, Pinkfong aims to diversify its offerings while leveraging data-driven insights for future projects.
Source: https://www.bbc.com/news/articles/cn8xzgw623go?at_medium=RSS&at_campaign=rss