Korea Expected to Become a Global OTT Battleground in 2023...The Solution Is Faster and Greater Acquisition of Quality Content
As global OTT content prepares for a battle to captivate Korean viewers, Blinton analyzed on the 22nd the increasing importance of content acquisition amid the rapid changes in the OTT market landscape.
According to the prominent U.S. media Variety, Paramount, one of the five major U.S. studios, plans to launch its OTT platform Paramount+ in Korea within this year, followed by HBO Max and Amazon Prime Video launching in Korea during 2023.
If all three platforms launch in Korea in 2023, Korea is expected to become one of the few countries worldwide where all six major U.S. OTT platforms are available, transforming it into a battleground for global OTT. Furthermore, with aggressive investment plans announced earlier this year by each OTT to strengthen their K-original content lineups, the industry views Korea's significance in the content sector as increasingly important.
However, Blinton, a B2B content rights distribution platform, explains that relying solely on OTT platforms’ original productions is insufficient to retain consumers who rapidly consume content. A Blinton representative diagnosed, “The speed at which tentpole productions are created is much slower than the speed at which consumers watch content, search for other works, and leave the platform,” adding, “Quickly acquiring new, high-quality content with proven appeal will be the key.”
They continued, “Blinton detects these market shifts and comprehensively evaluates regional trends, content compatibility, and content quality to deliver content to companies seeking acquisition, thereby enhancing convenience and satisfaction in content procurement,” and stated, “Based on Blinton’s own curation expertise, we will help more companies discover good content and deliver it to viewers.”
Meanwhile, Blinton is preparing a major platform overhaul in May to improve usability and functionality such as ease of use and curation accuracy, based on accumulated transaction insights and an expanded user base within the platform.
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