Domestic Largest OTT Launch in Sight... Tving and Season Merger Underway

Holding separate board meetings on the 14th to review the merger proposal

A major shift is anticipated in the domestic online video service (OTT) market. Tving and KT Studio Genie are pushing for the merger of their respective OTT services, 'Tving' and 'Season.' According to industry sources on the 12th, both companies will hold board meetings on the 14th to review the merger proposal. If realized, the largest domestic OTT with over 5 million users will be launched. Currently, the number one domestic OTT operator is Wavve, with approximately 4.23 million active users as of last month. Overall, Netflix leads with about 11.17 million users.

Tving was spun off from CJ ENM in 2020. KT Studio Genie was launched in March last year as KT began to intensify its content business. There have been ongoing merger rumors between the two services in the industry. To compete on equal footing with global OTTs like Netflix and Disney Plus, strategic alliances are inevitable. In March, CJ ENM showed signs of consolidation by investing 100 billion won in KT Studio Genie. They have also established cooperative systems across various fields such as drama, music, and immersive media.