"To Compete with Netflix, Domestic OTT Partnerships and Joint Ventures Must Be Strengthened"

Experts from Academia and Industry Speak in Unison at Korea OTT Forum H2 Seminar

Industry and academic experts are discussing at the Korea OTT Forum's second half seminar held under the theme of 'Redefining OTT Business Models in the New Normal Era.'

[Asia Economy Reporter Kim Heung-soon] "To compete with global players like Netflix, partnerships and cooperation among domestic operators are necessary."

On the 23rd, Labor Hwan Policy Cooperation Team Leader of Content Wave, a domestic online video service (OTT), said at the Korea OTT Forum's second half seminar held at the Press Center in Jung-gu, Seoul, on the theme of "Reestablishing OTT Business Models in the New Normal Era," "To enter the global stage, domestic OTT operators need to achieve economies of scale."

Team Leader Noh emphasized, "Currently, domestic OTT operators are providing services separately in a siloed manner by terrestrial broadcasters, telecom companies, and individual operators, making it difficult to realize economies of scale," adding, "If mergers and acquisitions (M&A) among operators are difficult, proactive consideration is needed to enable partnerships or cooperation."

At the forum, the prevailing opinion was that global expansion is essential for the growth of domestic OTT operators. Experts agreed that collaboration among domestic operators should come first to withstand competition with large players like Netflix, as well as to target overseas markets. Lee Jong-kwan, a specialist at the law firm Sejong who delivered a presentation, also stressed, "It is necessary to pursue a 'strategy of standing on the shoulders of giants' through collaboration and partnerships for mutual growth."

Yoo Young-sang, Director of Content Wave and Vice President of SK Telecom's MNO Business Division, stated, "If domestic OTT operators strengthen ultra-cooperation such as content partnerships and pool their capabilities, there is a chance to compete with huge global players," revealing intentions to merge with 'Tving,' a joint OTT platform by CJ ENM and JTBC.

Professor Lee Sang-won of Kyung Hee University's Department of Media and Communication also emphasized, "There is no visible plan for active joint ventures among domestic OTT operators," adding, "For global expansion, it is necessary to establish joint corporations and consider attracting overseas capital."

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