From Southeast Asian Dance Craze to $400 Million Empire: Teh Story of Baby Shark
Pinkfong, a South Korean educational entertainment company, achieved global phenomenon status with its “Baby Shark” video, a 90-second clip that has generated an estimated $400 million in revenue. The song’s origins trace back to a children’s song and dance that gained traction at events across Southeast Asia. The choreography proved popular, and when videos of both children and adults performing the dance began circulating online, the content quickly went viral. Kim, a representative from Pinkfong, recalls a celebratory atmosphere in the office as views rapidly climbed.
The video’s success culminated in November 2020 when it became the most viewed video on YouTube. In the years following its launch, “Baby Shark” accounted for roughly half of Pinkfong’s total revenue, simultaneously establishing a foundation for the progress of new content and merchandise.
Though, Pinkfong’s ascent wasn’t without challenges. In 2019, the company faced a lawsuit alleging plagiarism from an American composer.Pinkfong successfully defended itself in South Korea’s Supreme Court, arguing that its version was based on a public domain folk song. This legal victory proved beneficial, coinciding with the company’s initial public offering (IPO) request, which had already been submitted prior to the court’s decision.
While “Baby Shark” remains a cornerstone of Pinkfong’s success, currently contributing about a quarter of the company’s revenue, the company is actively working to diversify its portfolio. Franchises like Bebefinn and Sealook are experiencing rapid growth, with Bebefinn now generating approximately 40% of the company’s profits.
The company’s focus on a young audience is a key advantage,as children frequently enough repeatedly engage with favored content. However, business professor Min Jung Kim of Korea University emphasizes the need for Pinkfong to demonstrate its ability to thrive beyond the ”Baby Shark” brand.
Parental reactions to Pinkfong’s content are mixed. Saleem Nashef, a father of two, appreciates the educational aspects of the videos, while his wife finds “Baby shark” overly stimulating for young children. Despite this, a Baby Shark-themed birthday party is planned for his daughter, highlighting the song’s pervasive cultural impact.
Pinkfong raised nearly $52 million in its stock market debut and intends to utilize these funds to expand its library of films and characters. The company also aims to leverage data analytics, studying viewing patterns to inform the creation of future projects. Kim Min-seok acknowledges that Pinkfong has already achieved a level of success many creators aspire to, but stresses the importance of proving to investors that this success is sustainable and not merely a fleeting trend.
