[Asia Economy Reporter Park Sun-mi] The era of buying a TV just to watch live broadcasts is over. As TVs have gained more capabilities, consumers no longer purchase them solely for live viewing. Only smart TVs that function as computers, mobile phones, gaming consoles, and even art displays can survive in this era.
On the 13th, the common feature of the TVs released as new products in 2023 by the electronics industry is that a single TV can perform all functions such as computer, gaming console, and art appreciation. Samsung Electronics plans to more than double the number of VOD titles available on 'Samsung TV Plus' this year through collaborations with partners like Vice Media and Lionsgate. Although it already offers over 1,800 channels worldwide, it aims to increase the variety of content. By simply connecting the TV to the internet, users can enjoy a wide range of free content categories including movies, dramas, entertainment, news, and sports.
LG Electronics decided to show the webOS home screen first on its 2023 LG Smart TVs, including OLED TVs, instead of traditional broadcasting. This is to make it easier and more convenient to use various applications such as OTT (over-the-top) services, similar to mobile devices. Additionally, LG plans to offer the Paramount+ service on its smart TVs through collaboration with Paramount. A new content series will also be launched this summer in partnership with Apple TV.
Consumers used to watch TV programs scheduled by time and channel, but today they use streaming services that allow unlimited enjoyment of movies and TV shows. The video consumption environment has completely changed. As of 2021, only about 56% of American adults watched TV via cable or satellite, while 78% subscribed to streaming services.
TVs also serve as gaming consoles. In the past, separate consoles had to be purchased to enjoy games, but now TVs have absorbed the role of gaming devices. Samsung launched a service to enjoy streaming games on TVs through its Gaming Hub. This year, the service will expand to more than nine countries. It currently supports Microsoft Xbox Game Pass, NVIDIA GeForce Now, Utomik, Amazon Luna, and more. Simply put, with the latest Samsung TV, you can play Xbox games without owning an Xbox. Additionally, Antstream Arcade and Blacknut will be added within the year, offering over 2,500 popular streaming games. LG Electronics also expanded the number of games available on LG Smart TVs to over 2,500 by the end of last year, securing a large amount of cloud gaming content.
Once occupying a wall with a dark screen, TVs have now evolved to serve as art pieces. TV manufacturers are launching digital art subscription services in response to the double-digit annual growth in spending on digital art subscriptions, enabling art appreciation through ultra-high definition and large screens. Samsung, for example, offers over 2,000 works ranging from world-renowned masterpieces to unique works by emerging artists through collaborations with more than 50 museums, galleries, and art institutions worldwide, including Austria’s Belvedere Museum and the UK’s Tate Modern.
Smart TV lineups equipped with NFT platforms, such as Micro LED, Neo QLED, and The Frame, allow for art viewing. LG Electronics also plans to introduce TVs with NFT platforms soon. Currently, its OLED TVs feature the Gallery app, which lets users view artworks from around the world, and it continues collaborations with various artists. Recently, at ‘The Gateway,’ an NFT-based art exhibition held in Florida, USA, LG unveiled NFT artworks by renowned artists displayed in vivid quality on the LG Signature OLED R.
Kim Sang-yoon, Vice President in charge of North American Service Business at Samsung Electronics’ Visual Display Division, explained, "The market has changed so much that except for sports broadcasts, hardly anyone watches live TV anymore," adding, "We plan to move away from strategies focused on selling more TV products and instead provide services that consumers want on TVs." The essence of TV, which was once a product, is now evolving into a service.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
