The deal will create a more powerful Korean service, controlled by CJ ENM, to battle with global giants for talent and subscribers.
Seezn is controlled by KT Studio Genie, the content production arm of telecom operator KT Corp. Studio Genie said in a filing that the deal was reached to “strengthen the over-the-top platform competitiveness within the domestic media and contents industry, and accelerate the growth of K-content.
“As the market competition becomes fiercer, insiders kept saying that local players need to get bigger in order to compete head-to-head with foreign platforms,” said culture critic Ha Jae-geun in a statement to local news service Yonhap. “TVING seems to be taking action, considering its recent moves to merge with Seezn and cooperate with Paramount+.”
Subscriber estimates in Korea tend to vary, but the most reliable assessments position Netflix at the head of the pack. As of the end of 2021, regional research group Media Partners
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TVing and Seezn Korean Streaming Platforms to MergeKorean streaming platforms Tving and Seezn have announced plans to merge. The consolidation move is seen as a means to counter the dominance of Netflix, which is by far the largest subscription vid…
Read more »
J-Hope Partied With the Whole Korean Music Industry at His Album PartyWe love a thousand celeb cameos.
Read more »
Russia and Ukraine bound for 'Korean War ending' in 4-6 months: StavridisThe Ukraine war will become a 'frozen conflict,' predicted former NATO Supreme Allied Commander James Stavridis on Sunday.
Read more »
TVing and Seezn Korean Streaming Platforms to MergeKorean streaming platforms Tving and Seezn have announced plans to merge. The consolidation move is seen as a means to counter the dominance of Netflix, which is by far the largest subscription vid…
Read more »