Tving and Seezn, two major South Korean streaming services, confirmed their plans to merge, in a consolidation move which is seen as a means to counter the local dominance of Netflix.
Pay TV services revenue in South Korea is expected to grow marginally at a compound annual growth rate (CAGR) of 1.14%, from US$6.5 billion in 2021 to US$6.9 billion in 2026, mainly supported by the IPTV segment, GlobalData forecasted.