Wavve, one of the largest Korean-owned video streaming platforms, has acquired Kocowa, a specialty distributor of Korean content in the Americas, for 90.1 billion won (US$70.62 million).
In the face of Netflix’s increasing dominance in South Korea’s subscription OTT market, the local regulator has now approved the merger of the two Korean OTT services, TVing and Seezn.
India will remain the largest market in size ex-China, with growth powered by DTH satellite platforms; Korea is the second largest contributor, driven by telco IPTV. Revenue growth in 2022 will be driven by India, Korea, and the Philippines.