SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s media regulator said Tuesday it will form a support group for local over-the-top (OTT) media services to help compete with global rivals, such as Netflix Inc., as they take a dominant position in the local market. Netflix’s active mobile application users in the country totaled 6.37 million [...]
SEOUL, July 31 (Korea Bizwire) — Global streaming giant Netflix Inc. may further boost its presence in South Korea as its subscribers will have more access to the service through its partnership with local telecom operator KT Corp. KT said Friday it will start offering Netflix’s service on its pay TV platform, with KT’s Olleh [...]
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 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, 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 [...]
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 [...]
SEOUL, Feb. 7 (Korea Bizwire) — When he heard the news that South Korea had confirmed multiple cases of the novel coronavirus infection, Kang Tae-gu, a Seoul resident and a casual movie lover, decided to stop going to cinemas, at least for the time being. Instead, Kang opted to spend more time watching movies on [...]
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 [...]
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 [...]
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 [...]