Samsung Devices to Feature Watcha... Supporting Export of Native OTT Services Abroad

[Asia Economy Reporter Koo Chae-eun] Domestic online video service (OTT) platforms such as Watcha Play, Wavve, and KakaoTV are being recommended on Samsung Electronics' export devices. The aim is to expose domestic OTT platforms in smartphone app markets to encourage selection by overseas users.

On the 22nd, the government announced the "Digital Media Ecosystem Development Plan," which centers on this content. A notable part is the "Expansion of Collaborative Overseas Advancement" strategy. The government is discussing with Samsung Electronics the plan to curate major domestic OTT platforms on the daily app market of export devices.

The intention is to open sales channels so that users worldwide using Samsung Electronics devices, which hold the number one market share, can access domestic OTTs like Watcha Play and Wavve. Lee Tae-hee, Director of the Network Policy Office at the Ministry of Science and ICT, stated, "We will support the promotion of domestic OTT platforms through smartphones by consulting with service providers."

A cultural content fund worth 1 trillion won will be established to expand investment in new types of content such as OTT. The production cost tax credit, which applies to film and broadcast content, will be extended to online videos distributed through OTT. Long-term support for multi-year and seasonal content like Kingdom will also be expanded. Additionally, support for convergence immersive content utilizing short-form, 5G, and augmented reality (AR) will be increased.

This government policy aligns with the changing media landscape triggered by the spread of the novel coronavirus disease (COVID-19). In fact, the value-added coefficient related to the media industry is 0.781, higher than the manufacturing industry average of 0.483. Especially, as non-face-to-face media consumption has increased due to COVID-19, the market dominance of foreign OTTs such as YouTube and Netflix has grown.

Lee Tae-hee, Director of the Network Policy Office at the Ministry of Science and ICT, said, "As media production, distribution, and transmission become digitalized and the internet spreads, OTT usage like Netflix is increasing," adding, "We will support platform businesses to accelerate innovation through data, network, artificial intelligence (DNA), and the competitiveness of Hallyu content."

This content was produced with the assistance of AI translation services.