[2020 National Audit] Lee Taehyun, CEO of Wavve, "Cooperation with CJ-JTBC Needed for Domestic OTT Growth"

Lee Taehyun, CEO of Wavve [Photo by Wavve]

[Asia Economy Reporter Kim Heung-soon] Lee Tae-hyun, CEO of the online video service (OTT) Wave, stated that cooperation with CJ ENM and JTBC is necessary to enhance the content competitiveness of domestic OTT platforms.

On the 8th, Lee appeared as a witness at the National Assembly's Science, Technology, Information and Broadcasting and Communications Committee's audit and responded "Yes" to the question from Heo Eun-ah, a member of the People Power Party, asking whether collaborating with CJ and JTBC would help improve the quality of domestic OTTs.

Lee said, "Currently, due to competitive relationships among operators, we are unable to collaborate with CJ or JTBC," but added in response to Heo's follow-up question, "Which is more important, the competitive relationship or growing domestic OTTs?" that "the latter is more important." Heo commented, "This issue needs to be considered from a policy perspective."

Currently, CJ ENM's OTT platform 'Tving' is pursuing the establishment of a joint venture with JTBC. On Wave, the OTT platform formed by SK Telecom and the three terrestrial broadcasters, CJ ENM and JTBC affiliated programs are not available.

Lee appealed that another way to enhance the competitiveness of domestic OTTs is to minimize regulations and provide policy support to enable funding for content production.

He emphasized, "The content industry is one of the few items that can expand globally," adding, "If funding necessary for content production and overseas expansion is supported, competition with overseas OTT operators will be possible thereafter."