South Korean streaming service TVING says it wants to take on Netflix

nme.com:

Variety, Yang discussed his vision for TVING – a streaming service backed by Korean media giant CJ ENM, search engine Naver and cable network JTBC – following a banner year of 60 per cent subscriber growth in 2021.

The CEO also touched on the global growth of Korean content and how he plans on challenging Netflix, both at home and abroad.“It’s a game of capital,” Yang said of potential growth in the streaming space. “Players are entering a market to play for the crown jewel, but in the next three to five years, the industry will become consolidated.

Only some will win customers’ loyalty and be sustainable.”And for Yang, part of those plans to fight against larger global streaming services is by delivering authenticity through its content.

TVING already has two popular K-drama series on its ongoing slate – the Kim Go-eun-led Yumi’s Cells and ensemble comedy Work Later, Drink Now – with 13 more original series on the way in 2022, including Monstrous by Hellbound and Train To Busan writer Yeon Song-ho.The CEO also noted TVING’s new global partnership with Paramount Plus, where the companies would work together on new content in both the English and Korean languages, and gain an understanding of each other’s markets. “Our partnership with Paramount Plus gives access to a network that TVING doesn’t have.