K Wave Media Leads Investment in “Once We Were Us,” Now the #1 Film at the Korean Box Office
Rhea-AI Summary
K Wave Media (Nasdaq: KWM) reported that the feature film Once We Were Us, released December 31, 2025, reached over 1 million cumulative viewers in 12 days and climbed to the top of the Korean box office.
On January 7, 2026 the film drew 54,940 admissions, surpassing Avatar: Fire and Ashes (46,691 admissions) despite screening on roughly half as many screens and showtimes as Avatar: The Way of Water. K Wave Media cited strong word of mouth and sustained audience demand. The company also highlighted prior success with the Netflix original Trigger, produced by subsidiary Bidangil Pictures, whose production budget reportedly exceeded Squid Game Season 1.
Positive
- Cumulative audience > 1,000,000 in 12 days
- Top Korean box office rank after 54,940 admissions on Jan 7, 2026
- Surpassed Avatar admissions despite ~50% fewer screens
- Reinforces cross‑platform execution with Netflix release Trigger
Negative
- Once We Were Us screened on roughly half the screens of a major competitor, which may limit absolute box office ceiling
- Higher production scale indicated by Trigger budget exceeding Squid Game Season 1 implies larger capital deployment
News Market Reaction – KWM
On the day this news was published, KWM gained 1.72%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
KWM gained 6.01% while peers showed mixed, mostly modest moves (e.g., CPOP +0.13%, GAIA +3.71%, NIPG -0.9%, MPU -4.9%, STRZ -3.09%), pointing to stock-specific news impact.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 22 | Strategic acquisition | Positive | -4.1% | Plan to acquire 42.25% of Hansol Inticube to add AI and ICT. |
| Dec 18 | Corporate update | Positive | -2.0% | SEC clearance, Rabbit Walk acquisition details, and K-IP STO platform progress. |
| Nov 04 | Management change | Positive | -8.9% | Appointment of new CFO with capital markets and reporting experience. |
| Oct 16 | Capital restructuring | Positive | -18.6% | Founders contributed and lent 7.79M shares to treasury to aid restructuring. |
| Sep 29 | Crypto initiative | Positive | -2.7% | Announcement of tokenization platform with $1M Galaxy Digital investment. |
Recent company announcements have often been followed by negative 24-hour price reactions, so today’s positive move marks a departure from that pattern.
Over the past six months, K Wave Media issued several strategic updates, including an acquisition of a 42.25% stake in Hansol Inticube with ambitions to double revenue, SEC clearance enabling capital-raising, and a major share gift of 7.79 million shares into treasury to support restructuring. It also announced an entertainment tokenization platform backed by a $1 million Galaxy Digital investment. Despite generally constructive narratives, each of these prior releases saw negative next-day reactions, making the current positive response to strong film performance a notable shift.
Market Pulse Summary
This announcement highlights K Wave Media’s execution in content, with Once We Were Us passing 1,000,000 viewers in 12 days and taking the top Korean box office position while outperforming a major franchise film on admissions. Combined with the earlier success of Trigger on Netflix, it reinforces the company’s dual theatrical and streaming strategy. Investors may track how this audience traction translates into reported financials and whether it complements ongoing restructuring and acquisition initiatives detailed in recent filings and updates.
AI-generated analysis. Not financial advice.
Top ranking at the Korean Box office with 1 million viewers in just 12 days
NEW YORK, Jan. 12, 2026 (GLOBE NEWSWIRE) -- K Wave Media Ltd. (Nasdaq: KWM), a global entertainment and media company, is extending its track record of successful K content investments. Building on the global success of its Netflix original series Trigger, the company now reports that Once We Were Us, a feature film released on December 31, has climbed to the top of the Korean box office.
After its theatrical release on December 31, Once We Were Us quickly gained momentum, culminating in a top ranking at the Korean box office with a cumulative audience of over one million. According to the Korean Film Council’s integrated ticket sales network, Once We Were Us drew 54,940 moviegoers nationwide on January 7, surpassing Avatar: Fire and Ashes, which recorded 46,691 admissions.
The film’s ascent has been driven by strong word of mouth and sustained audience demand. Despite screening on roughly half as many screens and showtimes as Avatar: The Way of Water, Once We Were Us steadily closed the gap through its second week in theaters, ultimately overtaking the long-standing box office leader.
“This performance validates our disciplined investment strategy and our focus on backing stories that connect deeply with audiences while delivering strong commercial results,” said Ted Kim, CEO of K Wave Media. “We evaluate projects with a clear financial lens, and Once We Were Us demonstrates how targeted capital deployment, creative execution, and market timing can translate into meaningful box office returns.”
Starring Koo Kyo-hwan and Moon Ga-young, Once We Were Us is a Korean adaptation of the Chinese film of the same name, reimagined for local audiences. The film has earned praise for its emotional authenticity and compelling performances, resonating strongly with fans of romantic drama.
Once We Were Us follows Eun-ho and Jeong-won, former lovers who reunite unexpectedly after ten years and confront unresolved memories of of their past relationship. Since its theatrical debut, the film has generated growing critical attention and audience enthusiasm, establishing it as one of the most talked-about Korean releases of the season.
K Wave Media’s momentum follows the successful global premiere of Trigger, a high-intensity action thriller produced by Film Company Bidangil Pictures, a subsidiary of K Wave Media. With a production budget exceeding that of Squid Game Season 1, Trigger launched worldwide on Netflix, marking K Wave Media’s first Netflix original release since its Nasdaq listing in May 2025 and reinforcing its ability to deliver large-scale, globally competitive K-content.
Together, the success of Trigger and Once We Were Us underscores K Wave Media’s continued execution across both streaming and theatrical platforms, signaling a new era for Korean content on the global stage.
About K Wave Media
K Wave Media (KWM) is a publicly listed entertainment and Bitcoin treasury company dedicated to creating, distributing, and monetizing high-quality content across multiple platforms. Since going public in 2025, KWM has focused on strategic growth initiatives, including acquisitions, digital platforms, and digital asset treasury management.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking.
These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this communication and on the current expectations of K Wave Media’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of K Wave Media. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, market, financial, political and legal conditions.
If any of these risks materialize or K Wave Media’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that K Wave Media does not presently know, or that K Wave Media currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect K Wave Media’s current expectations, plans and forecasts of future events and views as of the date hereof. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved.
You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein and the risk factors of K Wave Media described in K Wave Media’s Form 20-F initially filed with the SEC on May 14, 2025, as amended, including those under “Risk Factors” therein. K Wave Media anticipates that subsequent events and developments will cause its assessments to change. However, while K Wave Media may elect to update these forward-looking statements at some point in the future, K Wave Media specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing K Wave Media’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Media Contact:
Investor Relations: info@kwavemedia.com
Evan Sneider: esneider@redroosterpr.com
FAQ
How many viewers did Once We Were Us (KWM) attract and when?
When did Once We Were Us (KWM) top the Korean box office and what were admissions?
What does the box office performance mean for K Wave Media (KWM)?
How does Once We Were Us compare in screen count to Avatar: The Way of Water?
What other recent content success did K Wave Media (KWM) report?
