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Local OTT Giant Wavve Sees Drop in Active Users, Netflix Soars

Local OTT Giant Wavve Sees Drop in Active Users, Netflix Soars

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 [...]

Local OTT Service Provider Signs Partnership with U.S. Media Giant on Content Supply

Local OTT Service Provider Signs Partnership with U.S. Media Giant on Content Supply

SEOUL, April 12 (Korea Bizwire) — A South Korean over-the-top (OTT) service provider said Sunday it has signed a partnership with a U.S. mass media giant on content supply and development. Content Wavve Corp., which runs the OTT platform Wavve, said it has joined hands with NBCUniversal Media LLC (NBCU) to explore better business opportunities [...]

S. Korean Streaming Service Market Grows 32.7 pct in 2019

S. Korean Streaming Service Market Grows 32.7 pct in 2019

SEOUL, April 6 (Korea Bizwire) — The South Korean online movie streaming service market expanded 32.7 percent last year from a year earlier on the back of rising demand for binge-watchable mobile platforms, a report showed Monday. According to the annual report published by the Korean Film Council (KOFIC), the total revenue of the over-the-top [...]

Netflix Starts to Eye Korea-made Content

Netflix Starts to Eye Korea-made Content

SEOUL, Nov. 28 (Korea Bizwire) — Netflix has been speeding up efforts to strengthen strategic partnerships with South Korean content creators in an apparent move to expand its influence in the country’s burgeoning streaming service market. Last week, the U.S.-based streaming giant inked a deal with CJ ENM, an entertainment unit of CJ Group, and [...]

Telco-cable TV Mergers to Reshape S. Korean Media Market

Telco-cable TV Mergers to Reshape S. Korean Media Market

SEOUL, Nov. 10 (Korea Bizwire) — South Korea’s telecom players and cable TV network operators are set to join forces to retain and attract more customers in the face of toughening competition with global content providers, gearing up for a major shift in the local media market. The process of mergers and acquisitions (M&As) between [...]

Younger Koreans Biggest Customers of Paid Video Platforms

Younger Koreans Biggest Customers of Paid Video Platforms

SEOUL, Aug. 27 (Korea Bizwire) — People between the ages of 18 and 24 are most likely to use paid video content platforms such as Netflix, the flagship over-the-top (OTT) service. According to a report released Monday by the Korea Information Society Development Institute, Koreans aged 18 to 24, accounting for 34.5 percent, were among [...]

Rise of OTT Players Spurs Media M&As in S. Korea

Rise of OTT Players Spurs Media M&As in S. Korea

SEOUL, Feb. 21 (Korea Bizwire) — If the rise of global content streaming services like YouTube and Netflix have taught any lessons to those in the Korean media industry, one thing is for sure: You have to become big to survive. An explosive growth in demand for over-the-top (OTT) content in the world’s most-connected country [...]