Netflix has joined the long list of over-the-top services that are looking to use South Korean dramas as a lure to draw new viewers in Asia, while at the same time making its own service more competitive to local services in South Korea.
The company today announced it had contracted for a 12-episode original series based on a South Korean online comedy series. The series will debut in 2018.
South Korean service provider KT has rolled out a new mobile shopping service that allows subscribers to search for and buy products that are related to content they are watching on its IPTV service, Olleh TV.
KT, which is the biggest provider of IPTV service, with 6.5 million subscribers at the end of 2015, also is South Korea’s biggest fixed-line phone and broadband operator.
Economic malaise and currency struggles will impact the growth of pay-TV revenues, but the APAC region nevertheless will see pay-TV sales top $40 billion in 2021, a 25% increase from 2015’s $31.94 billion. That 3.82% compound annual growth rate is significantly lower than the 5.59% CAGR the region enjoyed between 2010 – when revenues were $24.34 billion and 2015.
New figures released with week by the Korea Digital Media Industry Association say that IPTV numbers now top 10 million in South Korea.
KT Corp. remains the largest of the country’s three IPTV providers with 5.48 million subscribers, SK Broadband has 2.5 million and LG Uplus clocked in at 2.02 million.
IPTV services launched in 2009.