Korean streamers set to merge
July 18, 2022
South Korean streaming platforms TVing and Seezn are set to merge in a bid to fend off international streamers such as Netflix – which plans at least 25 Korean originals this year.
CJ ENM, behind global game show format I Can See Your Voice, is the controller of TVing, while Studio Genie, the media subsidiary of the KT telco, owns, Seezn. Studio Genie says the merger will “strengthen the OTT platform competitiveness within the domestic media and contents industry and accelerate the growth of K-contents.”
The combined service is expected to have more than five million subscribers putting it ahead of rival – and currently the country’s biggest platform – Wavve, which claims 4.23 million customers. Netflix has an estimated 11.2 million subscribers in the country.