Teabing and KT Studio Genie review at the board meeting… Combined, more than 5 million active users
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(Seoul = Yonhap News) Reporter Eun-jin Lim = It is known that Teabing and KT Studio Genie will soon merge their online video service (OTT), Teabing and Season.
According to the industry on the 12th, Teabing and KT Studio Genie are expected to hold a board meeting on the 14th and review the merger plan of the two services as a major agenda item.
If Teabing and Season merge, the number of users will exceed 5 million, creating Korea’s largest OTT service.
Currently, the number one OTT operator in Korea is Wave with regarding 4.23 million active users as of last month. Overall, Netflix (regarding 11.17 million people) has the highest number of active users.
Teabing is CJ ENM[035760]It is an OTT service spun off from KT Studio Genie.[030200]is a company that was launched in March last year to start the contents business in earnest.
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In the domestic OTT industry, there have been constant rumors of a merger between Teabing and Season.
In order to compete in the global market, such as Netflix and Disney Plus, there were opinions arguing for the need to merge with native services.
In particular, starting with CJ ENM’s 100 billion won equity investment in KT Studio Genie in March of this year, the company decided to cooperate in various fields such as drama production, music, and realistic media, boosting this prospect.
When asked regarding the possibility of CJ ENM taking over the season in April, KT’s customer division president Kang Kook-hyun said, “Nothing has been decided.” have.
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