LG Uplus, LG HelloVision-CJ CGV-KDX Collaborate on 'Media and Content Data Lake Construction'
Gathering Content Viewing Data to Derive Market Insights... Joint Efforts to Promote New Businesses
(From left) Choi Myung-joo, Head of Strategic Planning at CJ CGV; Kim Hong-ik, Senior Executive Vice President and CSO at LG HelloVision; Jeon Kyung-hye, Senior Executive Vice President in charge of Data Business at LG Uplus; and Park Jae-hyun, CEO of KDX Korea Data Exchange, attending the signing ceremony.
[Asia Economy Reporter Eunmo Koo] LG Uplus announced on the 24th that it will launch the "Media Data Alliance" together with LG HelloVision, CJ CGV, and Korea Data Exchange (KDX) to enhance the data utilization capabilities in the media and content market among the participants.
The participating companies in the Media Data Alliance plan to build a media and content "data lake" (a system storing large-scale raw data) from data extracted from media and content services consumed by customers. Since a cooperative foundation has been established to study changes in media viewing behaviors spanning "movies - IPTV/cable TV - online video services (OTT)," it is expected that analysis of content consumption patterns across the entire market will be possible without restrictions of time, place, or online/offline channels.
The participants also anticipate providing integrated insights that companies and individuals producing and consuming content can reference. For example, whereas previously paid broadcasting operators supplied content unilaterally focusing on blockbuster movies with large audiences, this research will verify viewing patterns across various channels, times, and locations, enabling the provision of benefits and events such as channel-integrated viewing coupons, rewatching perks, or movie re-releases.
Once the "Media Insight Platform," which can secure differentiated insights in the media and content field, is completed, the partners will supply the generated data to the market through KDX and further explore new business opportunities such as subscription services utilizing media data and joint marketing agencies. Additionally, they plan to advance data utilization by analyzing video and audio content data with artificial intelligence (AI) to examine correlations with movie attendance and TV viewership ratings.
Jeon Kyung-hye, Senior Vice President of Data Business at LG Uplus, said, "We will strengthen our cooperative relationships to integrate data in the media and content market and to lead and drive the development of the market." Kim Hong-ik, Senior Vice President and CSO of LG HelloVision, said, "Through cooperation among operators, we will strive to create a new and convenient media consumption environment while building a growth foundation for the media industry."
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