LG U+ close to deal to become sole IPTV service operator to provide Netflix content in South Korea

In a bid to increase its foothold in the market, LG U+ is closing in on a deal with Netflix to become the sole IPTV provider of its content in South Korea
 
Business Korea reports that the two companies “will announce their contract soon after the National Assembly’s inspection of government offices”, with the service expected to begin by the end of this year.
 
LG U+ aims to provide Netflix content via its U+ TV platform, capitalising on an opportunity to launch proven content without the need to invest in producing a wealth of new programmes.
 
SK Broadband and YouTube, two of LG U+’s close competitors, have been particularly industrious in producing original content, with the former tripling its budget designation for production over last year.
 
See more:
 
 
Business Korea noted that LG U+ holds 20% of the IPTV market, while KT and SK Broadband hold 50% and 30% respectively.
 
Earlier in the year, LG U+ paired with Netflix to offer a deal to customers in promotion of its new unlimited data service, according to Telecom Asia.
 
Up to the end of June, eligible customers who signed up to the new service received a free three month subscription to Netflix.
Share

Featured Articles

Top 10 female executives leading Japan's charge for change

As Japan pledges a 30% target for women executives at big firms by 2030, we spotlight 10 female corporate leaders blazing a trail in the country

Top 10 most valuable unicorns in China – phones to drones

Home to the world’s most valuable unicorn, not to mention the fastest growing, China may be trailing the US on numbers, but it is catching up – and fast

Top 10 fastest-growing energy companies in the APAC region

Business Chief takes a look at the top 10 fastest-growing energy companies in the APAC region, according to rankings from S&P Global Commodity Insights

Top 10 Chief Financial Officers in India

Corporate Finance

Top 10 largest companies Malaysia and the CEOs who helm them

Leadership & Strategy

5 high-profile CEO moves across Asia-Pacific this month

Leadership & Strategy