New Streaming Service Following 'LG Channel'... "Expanding LG ThinQ"
webOS Installed on 220 Million Smart TVs Worldwide... "1 Trillion Won Revenue This Year"
LG Electronics announced on the 22nd that it has integrated the audio content service 'LG Radio Plus,' which allows users to watch and listen to radio and podcasts on smart TVs, into its smart TV platform webOS. The company plans to expand the service to its smart home platform LG ThinQ application in the future. webOS is a platform installed on 220 million smart TVs worldwide.
LG Radio Plus is a service that allows free listening to audio content by watching advertisements. Following the existing ad-supported free streaming TV service 'LG Channels,' LG Electronics introduced LG Radio Plus. The strategy is to strengthen content and advertising business competitiveness in the smart TV platform market based on these two services.
LG Electronics recently launched the LG Radio Plus service in Korea and the United States in collaboration with global audio content provider RadioLine. In Korea, it offers over 440 channels, including popular podcast shows such as 'Shuka World' and 'Escape at Two O'clock Cultwo Show,' as well as live radio and music broadcasts. In the U.S., it provides more than 14,500 channels, including 'The Joe Rogan Experience' and 'CNN Radio.'
LG Radio Plus can be downloaded and used by anyone on TVs equipped with webOS 6.0 or higher. Customers can easily access LG Radio Plus through the webOS home screen or the remote control's voice function. Upon first launch, the most popular channel plays automatically. From the next time onward, the last listened channel plays immediately, minimizing browsing time.
To enhance the user interface (UI), only essential buttons are intuitively arranged. The 'Live Broadcast' section includes play/pause, favorites, and information buttons. The 'Podcast' section adds two more buttons for previous/next episodes and 15-second rewind/forward.
LG Electronics plans to expand the service to the LG ThinQ app in the future and provide LG Radio Plus on 'LG XBOOM' audio products as well. Customers can enjoy audio content for free without downloading separate music streaming services, signing up, or subscribing by linking LG XBOOM products with the LG ThinQ app.
LG Electronics has been operating the webOS platform business since 2014 and is celebrating its 10th anniversary this year. More than 400 brands have chosen webOS as their smart TV platform. Sales this year are expected to exceed 1 trillion KRW, a fourfold increase compared to 2021. LG Electronics stated, "The webOS business is expected to join the ranks of next-generation unicorn businesses." A unicorn is a private company valued at over 1 trillion KRW. According to market research firm Omdia, the smart TV platform advertising market is projected to grow from $6.6 billion (approximately 9.6 trillion KRW) this year to $13.4 billion (approximately 19.4 trillion KRW) by 2029.
Jung Sung-hyun, head of LG Electronics' webOS content service business, said, "We will strengthen the competitiveness of the webOS platform by expanding the base of various types of content that consider customer preferences and lifestyles."
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