The company is also expanding Olleh TV subscribers’ access to TV content further to their mobile devices by launching Olleh TV Mobile application.
LG Uplus is gearing up for acquisition of CJ HelloVision, a cable TV channel provider under CJ Group, in order to enhance its cable TV business.
If LG acquires the CJ channel, it would become the second-largest cable TV service provider, beating out SKT’s Broadband with a total of 24.43 percent market share. KT is currently the market leader with a 30.86 percent share.
Taking a larger share of the pay TV market is becoming more important for the mobile carriers, because their internet protocol TV service subscribers are key customers for the home media business that would further develop into the future content business.
“Securing ideal content for the 5G network is the key to success in the new network market,” said an LG Uplus official. “We are seeking to enlarge the size of the home media business by securing more content provided by competitive third-party content providers with an ultimate goal of offering video content for 5G mobile customers, because the home media and mobile users prefer combined service plans.”
In an effort to attract around 300,000 Netflix users in Korea, LG Uplus has partnered with the US OTT business to offer access to Netflix content via its IPTV platform.
According to a report by KT Economics and Management Research Institute, the media industry is predicted to gain 3.6 trillion won in socioeconomic value by 2030 with the commercial use of 5G technology.
The report also mentioned the 5G technology will bring augmented reality and virtual reality content to end users, creating a new category in the media market.
By Song Su-hyun (firstname.lastname@example.org