Korea’s top mobile carrier SK Telecom announced that it plans to merge its over-the-top media service Oksusu with Pooq, which offers programmes from terrestrial TV channels. The merger would enable subscribers of its subsidiary SK Broadband’s own mobile video streaming service Oksusu to watch various content provided by Pooq, a joint platform of Korea’s terrestrial broadcasters KBS, MBC and SBS, reports the Korea Herald.
The announcement comes after its smaller rival LG Uplus recently joined hands with Netflix to offer the streaming service over its IPTV platform.
SKT will hold a 30 percent stake in the merged OTT media service, with plans to raise it to 50 percent or more if the number of subscribers crosses 3 million. The enlarged Pooq will use the increased investment to expand its production output. No financial details of the deal were disclosed.
According to Yonhap news agency, the Oksusu service already has 9.46 million paying subscribers, while the Pooq content platform counts around 680,000 members. SK president Park Jung-ho said the partners aim to invest around KRW 200 billion in the platform, which will be open to other content providers as well.
