[Concall] SK Telecom "Must Achieve Economies of Scale Through K-OTT... Open Attitude"

[Asia Economy Reporter Joselgina] SK Telecom, which launched the joint OTT Wave with the three major terrestrial broadcasters, stated, "We need to achieve economies of scale through the so-called K-OTT in the global content market. We will approach this with an open attitude."

Ha Hyung-il, head of SK Telecom's corp2 center, said during the Q&A session of the conference call held after the earnings announcement on the 6th, "We are confident about Wave's growth prospects," emphasizing the need to unify native OTTs like Wave and TVING to compete against global OTT giants such as Netflix.

Ha explained, "Wave's user trend showed weakness in the first half of the year, but an increase is expected going forward," adding, "We maintain the goal of 5 million paid subscribers in 2023." He also mentioned, "We are preparing to enter the global market in cooperation with NBCUniversal and others," and added, "We will disclose details as soon as preparations are complete."

Meanwhile, SK Telecom, the first among the three domestic telecom companies to announce its Q2 earnings, recorded consolidated financial results of KRW 4.6028 trillion in sales and KRW 359.5 billion in operating profit. This represents increases of 3.7% and 11.4% respectively compared to the same period last year, exceeding market expectations.

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