SEOUL, July 7 (Korea Bizwire) — After enjoying strong growth earlier in the year, the global video streaming platform Netflix is facing declining popularity in South Korea. The situation is the same for South Korea’s major over-the-top (OTT) service providers such as Wavve, Watcha Inc. and Tving. All four companies saw their number of users [...]
SEOUL, June 22 (Korea Bizwire) — South Korea said Monday that it plans to launch a 1 trillion-won (US$825 million) fund and sharply cut red tape in order to help local players better compete with global media giants like Netflix and YouTube. Under the plan, the local media market will be valued at 10 trillion [...]
SEOUL, June 17 (Korea Bizwire) — The number of monthly active users of local video streaming service giant Wavve declined over the past months, while that of Netflix soared to cement its top status, a report showed Thursday. Wavve, which was launched last September by South Korea’s top mobile carrier SK Telecom Co. and terrestrial [...]
SEOUL, May 26 (Korea Bizewire) — Global video streaming platform Netflix Inc. is estimated to have brought in record-high paid subscriptions in April amid the coronavirus pandemic, industry data showed Tuesday. An estimated 2 million paid viewers in South Korea presumably paid 43.9 billion won (US$35.5 million) for subscriptions last month, up 21 percent from [...]
SEOUL, May 21 (Korea Bizwire) — Netflix, the world’s leading video streaming service provider, will come under growing pressure to share the network costs here following the revision to related laws, industry sources said Thursday. On Wednesday, the National Assembly approved the revision to the country’s telecommunications business act, which stipulates, in a nutshell, foreign [...]
SEOUL, May 6 (Korea Bizwire) — Global tech companies, which are making huge profits in South Korea, have been criticized for their behavior in the local market, by failing to comply with domestic policies or excluding the country from major services. Netflix Services Korea Ltd., the Korean unit of the U.S. streaming giant, filed a [...]
SEOUL, April 14 (Korea Bizwire) — Netflix, the world’s leading video streaming service provider, has filed a lawsuit against a local internet service provider over network usage fees, industry insiders said Tuesday. Netflix Services Korea Ltd., the Korean unit of the U.S. streaming giant, filed the suit against SK Broadband Inc. requesting a Seoul court [...]
SEOUL, March 5 (Korea Bizwire) — Actors in the second season of the smash-hit Netflix zombie thriller “Kingdom” said Thursday that the upcoming series will be a real cliffhanger as it has some fresh ideas and plots. The sequel to the first Korean original series by Netflix is a story of a crown prince of [...]
SEOUL, Feb. 28 (Korea Bizwire) — Online traffic for Netflix Inc., the global entertainment service provider, jumped in the last few days as more people are staying indoors to fend off the coronavirus. Global Big Data Research, a South Korean big data analysis agency, studied the amount of online traffic of seven over-the-top (OTT) platforms [...]
SEOUL, Feb. 12 (Korea Bizwire) — Samsung Electronics Co. will join hands with Netflix Inc., the world’s leading streaming entertainment service provider, on mobile entertainment as the South Korean tech giant looks to expand partnerships with global media and IT service giants upon the introduction of its new smartphones. Netflix confirmed that it has become [...]