The time is up for the world’s largest video streaming service company Netflix to land in the Korean market. Scheduled to land in Korea early next year, Netflix is stepping up preparation efforts, holding service presentation events for the domestic media.
Korea’s pay-based TV market is now up for drastic shakeup. The reorganization of the media industry is speeding up its tempo, with SK Telecom recently acquiring CJ HelloVision.
Some critics say that the impact of Netflix’s launch into Korea could be smaller than expected since its contents do not match with the tastes of Korean consumers and its service price is relatively high. Netflix is a video streaming service provider with 69 million subscribers in 60 countries worldwide. Netflix is accelerating its effort to achieve its goal of expanding its service coverage to 200 countries by 2017.
Armed with vast contents, innovative service models, and low prices, Netflix has led the cord-cutting culture in the U.S. market. Cord cutting refers to the trend of canceling cable TV services and consuming video contents through streaming or video-on-demand.
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