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Entertainment Industry Meets with ICT, Reborn as Culture Platform
Evolving Content
Entertainment Industry Meets with ICT, Reborn as Culture Platform
  • By Cho Jin-young
  • September 1, 2015, 01:00
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The entertainment industry is evolving into new content platforms by combining with ICT.

Korean entertainment giant iHQ announced that it will develop a content platform in earnest by acquiring SK Communications. The nation's top portal operator Naver is also leading competition for entertainment platforms through its new streaming mobile app named "V."

The winner of a competition for content platforms, which are a combination of the entertainment industry and platforms, is expected to be in an advantageous position to lead the Internet and mobile video market. Therefore, competition to combine the culture industry and ICT is likely to intensify.

According to industry sources on Aug. 31, Naver launched a streaming mobile app V, on which K-pop idol groups have signed on to appear live. Afreeca TV will establish a joint venture called Freec with entertainment company Mystic Entertainment to start a new content business.

As SK Communications was purchased by iHQ, Nate, a portal site operated by SK Communications, is expected to be changed into another entertainment platform. Industry analysts are saying that Nate, which lacks in video content, will make various types of content using celebrities belonging to iHQ, aiming to create synergy. 

Pandora TV signed a Memorandum of Understanding with entertainment agency Humap Contents to forge a partnership and create content, and recently released a new music video named Pinocchio from singer Insooni through joint planning and production. The music video has attracted millions of views on the Humap Media channel inside Pandora TV, as it was only released on that channel.

As an increasing number of new platforms that expand communication among users, artists, and producers through partnerships between entertainment and ICT companies are being created, industry analysts believe that the Internet industry is being developed into a market that leads to the generation of different kinds of profits and the flow of culture, going beyond just existing portals.

Experts are saying that the quality of content is important for content platforms, but an ICT partner's proper role as a platform provider gives an advantage over others in competition.

Video communication platform Air Live developed its own media server in 2011, after three years of research and development, showcasing a function to do live broadcasting via a mobile device for the first time. Air Live's technology was developed more than three years earlier than that of live video streaming apps Meerkat or Periscope. Due to the recent live streaming service craze, the Korean company is expected to attract investment from other countries soon.