Korean TV, telco heavyweights combine for OTT platform | OTT | News | Rapid TV News
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South Korea’s three terrestrial broadcasters have teamed up with SK Telecom (SKT) to establish a single company to manager their over-the-top (OTT) video services.

NetflixKorea 7Jan2019KBS, MBC and SBS have signed a memorandum of understanding (MOU) with SKT to cooperate on a combined streaming service to rival US video-on-demand giant Netflix.

The new entity will merge SK Broadband’s Oksusu OTT platform with that of the Content Alliance Platform, which runs a streaming service called Pooq. Funded by the terrestrial broadcasters, Pooq provides real-time terrestrial programming and video-on-demand (VOD) services.

To help offer a simple and easy to use platform, SKT will contribute its streaming and content recommendation technology, based on artificial intelligence and big data. Distribution deals will be forged with both domestic and international content makers, as well as the three broadcasters involved for content to populate the platform.

The video streaming service will also expand outside of South Korea, initially to Southeast Asia, the companies said.

“More competitive content, distinctive services, larger platforms and overseas expansion are essential for the growth of the OTT business and the development of the domestic media ecosystem, and ongoing investment must be guaranteed. Our eventual plan is to build this combined service into the Netflix of Asia and beyond that to Korea’s flagship OTT service that can compete in the global market, thus revitalising the domestic media ecosystem,” SKT said.