PART 4

THE MATH

SPV Formula & 17.5× ROAS Scenario Model
Based on 60+ academic studies and modeled data.

NOT MARKETING HYPERBOLE.
MATHEMATICAL MODELING.

CFO Question

Show Me The Math.

TRADITIONAL AGENCY ANSWER

"Brand awareness up,
great exposure..."

CFO REJECTED

WLS ANSWER

₩86.2B

Quantifiable Value

CFO APPROVED

The Formula

SPV = 4 Components.

01

MediaValue

₩10.7B

02

Participation

₩17.2B

03 (KEY)

TrustLift

₩38.8B

04

DataAsset

₩19.6B

TOTAL: ₩86.2 Billion Annual Value (Modeled)

Component 1

₩10.7B TV Exposure.

7.25M Viewers(Reach)

× 50 Episodes(Frequency)

× CPM ₩12,000(Base Rate)

× 1.4 Premium(Integration)

× 1.25 Premium(Primetime)

× 1.2 Premium(Engagement)

+ Brand Mentions(₩1.55B)

= ₩10,700,000,000(Est.)

Based on standard Nielsen Korea validated ratings & integration multipliers.

Component 2

₩17.2B UGC Power.

VIRAL MULTIPLICATION

1M Users × 87% Participation

870K

Creators

ASSET GENERATION

× 8.7 Assets / User

7.6M

Pieces / Episode

MARKET VALUE (50 EPISODES)

4.1B Valued Impressions

₩17.2B

Modeled Value

Source: Zhao 2022: β=0.42, p<0.001 (Consumer participation coefficient)

Component 3 (Largest)

₩38.8B Trust Transfer.

94%

Platform
Trust

+48%p

Trust
Transferred

+12%p

Purchase
Intent

₩38.8B

LTV
Uplift

Chang 2024: β=0.68, p<0.01 (Trust Transfer Mechanism study)

Component 4

₩19.6B Data Asset.

Creation Behavior

What they make,
colors, styles used.

Voting Patterns

Real-time preference
data on millions of items.

Deep Engagement

Zero-party data
consented & rich.

CALCULATION

1M High-Qual Profiles × ₩75,000

₩75B Total Value

(Amortized: ₩19.6B / Year)

McKinsey 2020: $50-100/Lead Premium for Zero-Party Data

Annual Value

₩86.2B Total SPV.

10.7

17.2

38.8

19.6

Media Participation Trust Lift (Biggest) Data

RETURN ON SPEND

₩9.5B Spend ₩86.2B Value

Return Calculation

9.1× to 17.5x ROAS.

YEAR 1 DIRECT

9.1x

SPV Formula Base

5-YEAR NETWORK

0x

Compound Growth

30-YEAR LOYALTY

0x

Gen Z Lifetime Value

Network Effects

Year-by-Year Growth.

9.1x

Year 1

11.6x

Year 2

14.3x

Year 3

16.6x

Year 4

18.6x

Year 5

5-Year Average: 14.1× ROAS (Modeled based on network effect coefficients)

Downside Protection

4.8× Worst Case.

FAILURE A 50% Platform Failure

7.1× ROAS

FAILURE B 50% Trust Conversion Failure

7.0× ROAS

FAILURE C 30% Ratings Miss

8.7× ROAS

ALL COMBINED Total Systemic Underperformance

4.8× ROAS

Industry Benchmark: 1.0-3.0× ROAS
Even in total failure, WLS still beats the 1.0-3.0× industry benchmark.

CFO Answer

₩9.5B ₩86.2B Value.

60+ peer-reviewed studies validate formula

17.5× ROAS modeled (vs 6-17× industry high)

4.8× downside protection (worst case scenario)

Big Four audit-ready formula