HBO gears up to launch streaming service in Korea

The Korea Times

The Korea Times

Business

Wed, September 27, 2023 | 22:59

Companies

HBO gears up to launch streaming service in Korea

Posted : 2022-01-03 09:17

Updated : 2022-01-03 15:32

HBO Max / Captured from YouTube

By Kim Bo-eun

Competition among streaming platforms here is set to intensify this year as HBO is expected to launch its own over-the-top (OTT) media service in the local market.

HBO Max is the OTT service of U.S. entertainment giant WarnerMedia, which owns shows such as "Game of Thrones" and the "Harry Potter" series.

HBO Max's launch appears imminent, given that it is not renewing contracts with other OTTs offering HBO shows here. Local OTT service, Watcha, has stopped offering HBO's hit series, "Game of Thrones," along with other shows of the U.S. TV broadcaster, as of Dec. 31. Netflix also stopped offering shows such as "Big Bang Theory," "Friends," and the "Dark Knight" series, which HBO Max has offered in other markets.

Disney Plus, which debuted in Korea in November, stopped other OTTs offering its content prior to its launch.

WarnerMedia is currently hiring over 30s positions at HBO Max Korea.

In September, actress Lee Si-young shared on Instagram a photo of herself on the set of "Mentalist," shot in collaboration with HBO Max, stating that the show had completed filming. WarnerMedia holds the intellectual property rights to the original program and Lee took part in the production of a local version with actor Park Si-hoo.

The entry of global entertainment platforms into the local market is leading to expectations in the industry for more locally-produced shows that could become global hits, such as Nexflix's "Squid Game."

Apple TV+ and Disney Plus launched their services here last year and the arrival of HBO Plus also means global OTTs are expected to compete fiercely to attract more viewers. Streaming platforms have become a key source of entertainment amid the COVID-19 pandemic.

Half of all people who viewed OTT services were paid users in 2021, according to data from the Korea Communications Commission. This figure is up from 7.7 percent in 2018, 14.9 percent in 2019 and 21.7 percent in 2020.

Netflix was the dominant OTT platform here with 9.1 million viewers as of July 2021. Local platforms Wavve and Tving followed with 3.2 million and 2.8 million viewers each.

HBO Max has seen its subscribers grow. The platform had 69.4 million subscribers globally as of the third quarter of 2021, up from 15.9 million in the same quarter of 2020. HBO Max is currently available in select countries in North and South America, the Caribbean and Europe. The platform offers two monthly subscription plans: one with ads for $9.99 and an ad-free version for $14.99.

bkim@koreatimes.co.kr