"South Korea Becomes Battleground for OTT Platform"
South Korea, the True Battleground for OTT
South Korea is expected to become a battleground for global OTT platforms. Several global OTT platforms are attempting to join Korea, and there is also talk of a merger. Let's find out about the two OTT platforms that are about to enter Korea.
Photo Source: discovery plus.com
Discovery launches OTT in Korea... Investment of more than $50 billion (50 billion KRW) in contents.
Discovery, a multinational media company with broadcasting services in 220 countries, has revealed plans to bring its OTT service "Discovery Plus" to the Korean market, which was launched earlier this year in the United States. Depending on the rapidly expanding OTT market in South Korea, the service is expected to be launched at least next year.
"OTT is a very important business for Discovery," said Simon Robinson, president of Asia-Pacific. "We are preparing a Korean OTT that is different from Netflix and Disney, and we plan to launch OTT services in the other Asian market in the near future," he said, adding that the launch strategy differs slightly by region.
Discovery Channel Korea plans to invest more than 50 billion won in producing original contents in Korea over the next three years and strengthen its global market by using Korea as a content advance base in the Asia-Pacific region.
Simon Robinson also added, "Netflix focuses on script-oriented dramas and movies, but we focus on people's 'real lives'. There are many services that many people outside the country will sympathize with," he said. "We'll create an OTT website that stands apart from Netflix and Disney."
Photo Source : Marketing Magazine
China's OTT platform called 'WeTV' landed in South Korea
Tencent's WeTV, a video streaming website, has launched in South Korea. Consumers welcome it because it offers a service that is distinct from the current Korean OTT network (Netflix, Wave, Watcha, TVing, etc.). There are Chinese dramas and films, as well as entertainment and animation categories. Since WeTV is expected to absorb a large number of customers in the future, the domestic OTT market is expected to become even more competitive. WeTV supports ten languages and offers services that enable viewers to actively engage. A service that enables customers to act directly as translators is a good example. Consumers appreciate these programs because of the unique services they have.
WeTV said it expects to reach its business to Korea, Thailand, and the United States in the future, and that it would meet customer demands in the domestic market.
Article Source : https://n.news.naver.com/article/022/0003584190, https://n.news.naver.com/entertain/article/015/0004543131