SEOUL, Feb. 2 (Korea Bizwire) — Over 66 percent of South Koreans used over-the-top (OTT) media, or video streaming services, last year amid the stay-at-home trend driven by the pandemic, a survey showed Tuesday. South Korea’s OTT usage rate stood at 66.3 percent in 2020, compared with 52 percent the previous year, according to a [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korea’s ICT ministry said Friday it will develop an artificial intelligence-powered translator for local video streaming services as part of its broader support plan for the fast-growing over-the-top (OTT) media industry. The Ministry of Science and ICT said it is pursuing the development of the AI-based translation technology [...]
SEOUL, Sept. 24 (Korea Bizwire) — As the popularity of over-the-top (OTT) platforms continues to expand, recent data shows that roughly two-thirds of Generation Z South Koreans between 15-24 years of age were found to be watching videos via OTT services more than on TV. SK Telecom Co. reported on Wednesday that 62.5 percent of Generation [...]
SEOUL, Aug. 28 (Korea Bizwire) — South Korea’s three major telecom operators are strengthening video streaming services, industry officials said Friday, as online media consumption grows amid the COVID-19 pandemic. The telecom firms — SK Telecom Co., KT Corp. and LG Uplus Corp. — have focused on boosting their over-the-top (OTT) media services or expanding [...]
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, 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, Sept. 30 (Korea Bizwire) — As South Korean broadcasters and IT firms scurry to reorganize and launch new over-the-top (OTT) services, the question of how to create bankable content is determining survival in the Netflix-led market. The country’s three terrestrial broadcasters — KBS, MBC and SBS — opened a new over-the-top (OTT) platform service, [...]