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Tving, Seezn to merge to become S. Korea's biggest streaming platform

Entertainment 16:46 July 14, 2022

SEOUL, July 14 (Yonhap) -- South Korean streaming services Tving and Seezn will merge into a single platform to become the biggest domestic content streaming provider, the companies announced Thursday.

KT Studio Genie, the media production unit of telecom operator KT Corp., said in a regulatory filing that it has struck a deal with CJ ENM Co., the controlling shareholder of Tving Co., to merge the two services.

The decision was reached to "strengthen the over-the-top (OTT) platform competitiveness within the domestic media and contents industry, and accelerate the growth of K-contents," KT Studio Genie said.

Tving also confirmed the deal in a separate regulatory filing. According to the deal, Seezn will be absorbed by Tving.

When completed, the merger will create South Korea's biggest OTT service provider with more than 5 million total subscribers, surpassing that of the country's current biggest platform Wavve at 4.23 million.

This composite image shows the corporate logos of streaming platforms Tving and Seezn. (PHOTO NOT FOR SALE) (Yonhap)


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