The Warner Bros owned DramaFever streaming-video service specializing in Korean dramas and other Asian programming, is shutting down. This was announced by the company and effective immediately.
The New York-based DramaFever was acquired by Warner Bros. in 2016 from Japan’s SoftBank Group. It will be closing its DramaFever OTT service due to business reasons and in light of the rapidly changing marketplace for K-drama content. It is also said that licensing costs for U.S. distribution commanded by top K-dramas have rapidly increased in recent years, bid up by larger SVOD players like Netflix and Amazon — making the genre-focused over-the-top video business unsustainable. A show that used to cost $800,000 to license for streaming now goes for around $1 million per season, according to the source.
Now for those who have subscribed to the site, they will be issuing refunds in the next couple of days and will be notified through email.