Latest news with #Tving
Korea Herald
14-06-2025
- Entertainment
- Korea Herald
Murder, mystery and make-believe: Inside Korea's booming role-play game cafes
Scripted murder mystery games thrive as young Koreans chase immersive thrills The lights are out, and the air is thick with tension inside an abandoned psychiatric hospital -- shuttered just a week ago after a devastating fire. Armed with only a flashlight, you step cautiously into the darkness to find three other suspects standing in silence, each tasked with uncovering the truth behind the murder of the hospital director. As you sift through the wreckage together for evidence, every second counts -- before one of you is accused of being the killer. This is not a real crime scene, nor is it the plot of a thriller film. It's the premise of a scripted mystery game -- an immersive role-playing experience offered at a venue in Seoul's Hongdae neighborhood. In this crime-themed role-playing game, four to seven people are each assigned a character with a rich backstory -- outlining why they might or might not be the killer -- complete with costumes. After reviewing their scripted alibis and understanding their roles, the players are led to a lifelike crime scene set where they have to search for clues and engage with one another to identify the culprit. Stepping into suspense In South Korea, these immersive game venues known locally as "crime scene" are steadily gaining popularity, offering a unique form of entertainment that blends elements of theater, role-play and classic whodunits. "After a routine week at the office, stepping into a new role with a different job and identity is refreshing," said Ji Jeong-hyeon, a 32-year-old office worker in Seoul. After her first try, she has been returning on weekends to "conquer" different plotlines at different venues. "It is exciting to be part of a suspenseful storyline where I can act and actively take part in the plot -- sleuthing like a real detective when I'm just another suspect, and embracing my alibi when I'm the murderer." Scripted murder games differ from escape rooms, which require players to solve puzzles and brainteasers to unlock doors and advance through a series of rooms until they finally break free. 'In traditional escape rooms, it can be frustrating when you cannot solve the puzzles. But crime scene games are more about sleuthing and unraveling the truth,' said Seo Ki-seon, an office worker in Incheon. 'The intense, dopamine-driven plots draw me in. The themes are bold and thrilling, and it's the dark twists in the characters' relationships that make it all the more fun." TV boost This immersive game traces its roots to Western detective games like Clue. In recent years, the format gained major traction in China under the name "Junbensha." In Korea, the scripted murder genre gained wider recognition through the entertainment show franchise "Crime Scene," which was first aired on JTBC in 2014. The show has built a steady fanbase over a decade, later moving to Tving, and is now set to return on Netflix with its fifth installment, "Crime Scene Zero." "We see a noticeable increase in users when the show airs. Since this upcoming season will be on Netflix, we are expecting a greater impact," Park Young-sup, CEO of IF Entertainment told The Korea Herald. IF Entertainment was the first to open a murder mystery cafe in Korea, Puzzle Factory, and now it runs seven such venues, mainly in Hongdae and Gangnam in Seoul. Most of the customers visiting Puzzle Factory are in their 20s and 30s. Business peaks during the vacation periods and holidays, since the game requires four to seven players. When Park founded the company in early 2016, inspired by the TV show, he struggled to attract customers as the concept was still unfamiliar to most Koreans. Things began to change in 2017 after the third season of "Crime Scene" aired. He is now preparing to open an eighth store in Seongsu-dong, a newly trendy area in Seoul. To write more gripping narratives for the game, Park said he stays open to a variety of content, including books, films, dramas and other games, while keeping a close eye on social trends. "I believe a good scenario should feel fresh while still resonating with a wide audience," Park said. Other companies are also jumping into the immersive gaming trend, blending escape room puzzles with live-action role-play. Last year, Lotte Cinema launched Live Cinema in the Hongdae neighborhood of Seoul, where participants enter a set and interact with professional actors to complete story-driven missions -- offering cinematic, hands-on experiences that blur the line between film and games. Dark fun and dopamine The experience does not come cheap. Prices typically range from 26,000 won ($19) to around 40,000 won per person for a 90-to-100-minute session, depending on the venue and complexity of the storyline. At Live Cinema, a single game costs between 220,000 won and 240,000 won for three to five players -- and sessions are often booked quickly. This willingness to pay for immersive entertainment points to a broader cultural trend that reflects a growing desire among consumers to step into the role of a main character -- like in a TV show -- seeking deeper, more interactive engagement rather than passive content consumption. 'People no longer find satisfaction in just reading mystery novels or watching films, they want to step into the story and become the protagonist themselves,' said Lee Eun-hee, a consumer science professor at Inha University. 'They will pay more for the immersive experience, and such personal involvement offers a thrill far beyond passive, one-way consumption.' Park echoed that view, adding that taking on a new role offers not only joy but also stress relief. "I think it is similar to immersive sports like tennis and golf. When you are focused on the ball, you forget everything else and simply enjoy the act of playing." herim@
Korea Herald
12-06-2025
- Business
- Korea Herald
Silicon Valley's first Korean-founded unicorn Moloco sets sights on web, connected TV ad expansion
Moloco, an AI advertising solution provider, announced its strategic vision to expand beyond mobile app advertising into web and connected TV domains during a press conference in Seoul on Thursday. Founded by a Korean entrepreneur in Silicon Valley, Moloco is the first unicorn of its kind. The company develops AI-powered advertising technologies that help apps, e-commerce platforms and OTT services boost their ad revenue. Its solutions are designed to improve user engagement with ads, enabling both advertisers and platforms to maximize profits. 'We aim to create a world where a greater variety of platforms and sellers can grow together through our AI engine, fostering broader diversity and sustainable growth,' said Ahn Ikk-jin, CEO and co-founder of Moloco. According to Ahn, more than 2,000 platforms globally have adopted Moloco's AI engine, which now supports over 180,000 advertisers. Its clients include major global and Korean companies such as LG Electronics, Tving, KT, Coupang Eats and Krafton. Moloco generates approximately $40 billion in gross merchandise volume annually, comparable to Korea's leading portal and e-commerce giants, Naver and Coupang. Explaining how the company's machine learning solution rapidly identifies optimal ad placements for advertisers on mobile apps, Moloco CTO Jeon Dong-hwan outlined plans to expand its capabilities into web and CTV channels. 'Our real-time bidding system, powered by machine learning, currently analyzes over 6 million ad opportunities per second. By simultaneously evaluating campaign contribution and expected cost, we've achieved maximum cost-effectiveness,' said Jeon. 'We're increasing our investment in CTV, in partnership with Tving, and aim to build a unified platform that can optimize campaigns across web, app, and CTV channels.' Moloco, which reached unicorn status with a valuation exceeding 1 trillion won in 2021, is also eyeing an eventual public listing on the Nasdaq. 'Going public, in a sense, means becoming part of society,' said Ahn. He emphasized that the initial public offering is not being pursued as a fundraising or exit strategy, highlighting that the company has remained profitable for over four years, even with more than half its workforce dedicated to research and development. 'Our vision is to become a scaling engine for the internet economy. If we do pursue an IPO, it will serve as a milestone in positioning Moloco as a true enterprise player in the global commerce media industry.'
Korea Herald
10-06-2025
- Business
- Korea Herald
Tving and Wavve merger gets green light with conditions
Amid Netflix's dominance in the local streaming market, merger of South Korea's popular streaming platforms approved on condition of fee freeze through end of 2026 Popular South Korean streaming services Tving and Wavve have been given the green light for a merger. On Tuesday, the Fair Trade Commission granted conditional approval for the merger of the two platforms, imposing a measure that requires the companies to maintain their current subscription fee levels through the end of 2026 in order to prevent potential price hikes tied to the launch of bundled products. Entertainment giant CJ ENM currently owns Tving, while Wavve operates as a joint venture between terrestrial broadcasters KBS, MBC and SBS, and telecom operator SKT. In its review of the deal, the antitrust regulator said it examined whether subscription fees for consumers could rise post-merger. According to the FTC, both Tving and Wavve command a substantial base of loyal subscribers. Due to the availability of exclusive content, these subscribers tend to exhibit relatively low price sensitivity. In particular, the FTC said subscribers who highly value exclusive content, such as Tving and Wavve's live broadcast channels and KBO League baseball coverage, would find it difficult to switch to competing services, even if prices were to increase under a bundled model. To address concerns over potential fee increases and other anticompetitive effects in the streaming market, the FTC said that it approved the merger on the condition that Tving and Wavve maintain their existing pricing plans from the date the corrective order is issued — Tuesday — through Dec. 31, 2026. Furthermore, should Tving and Wavve be integrated into a single service during this period, the FTC said the new service must introduce a new pricing plan that is comparable to their current plans in both price range and service offerings, and maintain this new structure through the same 2026 deadline. As of January 2025, Tving and Wavve rank second and fourth in the market, respectively, accounting for 16.5 percent and 9 percent of total streaming service usage time on smartphones in South Korea. According to the same data, Netflix accounts for 61.1 percent. Tving and Wavve have been pursuing a merger since late 2023 as part of efforts to expand their combined market share.
Korea Herald
26-05-2025
- Business
- Korea Herald
Netflix-Naver, Tving-Baemin? Streaming wars take new shape
As competition for subscribers intensifies, streaming services in Korea resort to hybrid models South Korea's streaming services have realized that their survival hinges on more than just offering compelling content -- platforms are increasingly turning to strategic brand partnerships to combat subscriber churn and fuel growth. Korean streaming platform Tving is set to unveil a bundled membership offering in collaboration with Baedal Minjok, the nation's top food delivery app, starting June 2. The combined membership, which marks the first time for a Korean streaming service to partner with a food tech company, merges Baemin Club's paid subscription benefits -- free delivery, exclusive coupons and discounts -- with Tving's ad-supported standard tier. Subscribers to Baemin Club will now be offered access to Tving's ad-supported plan at an extra cost of 3,500 won ($2.50) per month. Tving's ad-supported plan, which costs 5,500 won on its own, allows users to watch Tving content with intermittent ad breaks. Meanwhile, Coupang Play is also gearing up to launch South Korea's first free ad-supported streaming service this June. Under the new model, Coupang members will gain free access to Coupang Play's content library in exchange for viewing pre-roll and mid-roll advertisements. The new model grants regular Coupang members access to both Coupang and Coupang Eats delivery services, as well as to Coupang Play's ad-supported plan. This shift toward hybrid models, as well as a pioneering move to waive monthly fees, comes after Netflix's collaboration with Naver, which debuted last November. The partnership, branded as the Naver Plus Membership (4,900 won), gives subscribers free access to Netflix's ad-supported tier, along with bonus Naver Pay points and redeemable cookies for webtoon and series rentals on Naver Webtoon. Currently, Netflix's ad-supported plan without a Naver Plus Membership costs 7,000 won. Netflix Korea's decision on May 10 to raise prices across all its plans, while maintaining the Naver-Netflix membership at 4,900 won, underscores the significance of the alliance for subscriber retention. The new partnerships and free ad-supported options come in response to a plateauing streaming market. According to a report from the Korea Creative Content Agency released in December 2024, free streaming service usage surged from 78.2 percent in 2023 to 85.1 percent last year, whereas paid service penetration stalled, inching down from 55.2 percent to 53.4 percent. 'The streaming service market has matured to a point where relying on one or two breakout hits to drive growth is no longer viable,' said an insider from a Korean streaming service, speaking on condition of anonymity. "Subscriber behavior tends to be substitutive -- when users sign up for a new service, they often cancel an existing one. Right now, domestic streaming platforms are seeing their user base level off at some 30 million, with growth largely tapering off," he said. This is forcing platforms to pivot their strategies to justify escalating content investments, he pointed out, adding that platforms are targeting subscribers of other popular brands in a bid to expand their market shares. However, partnerships between diverse platforms may come with unintended downsides. Alongside the appeal of low subscription fees may lie a trade-off, in which businesses onboarded onto retail platforms such as Baemin and Naver Shopping may face higher commission rates and shrinking profit margins. Additionally, consumer choice may become increasingly limited. As competition among platforms grows, the lock-in effect strengthens, making it harder for users to switch services. The reduced flexibility narrows consumer options, and over time, even as discounts fade or service quality declines, users may be forced to remain with the platform they originally chose.
Business Upturn
21-05-2025
- Business
- Business Upturn
Omdia Reports Local Online Video Services Take the Lead Over Netflix in South Korea
London, United Kingdom: New research from Omdia reveals that Netflix maintains its leading position in South Korea's subscription-based online video market, accounting for 31% of the total subscriber base. However, major domestic platforms collectively represent a larger 40% share, led by Tving (16%), Coupang Play (13%) and Wavve (11%). This press release features multimedia. View the full release here: South Korea: Subscription online video market share by operators' subscription base 2025, (%) The performance of local platforms reflects their strong cultural alignment and strategic presence within South Korea's streaming ecosystem. With K-dramas continuing to play a significant role in the global content market, platforms such as Tving are expected to expand their content libraries to strengthen competitiveness both domestically and internationally. As part of this broader strategy, CJ ENM, Tving's primary shareholder, has outlined plans for global expansion, targeting 15 million global subscribers by 2027. To support this ambition, CJ ENM has committed an additional KRW150 billion ($106 million) for content investment in 2025, on top of the KRW 1 trillion (approximately $706 million) budget announced last year. The company also plans to collaborate with studios in the US, Japan, and Southeast Asia, which are the key markets for its global expansion. Tving's international roll out is signaling a potential shift in its distribution approach that could influence competitive dynamics across global streaming markets. Kia Ling Teoh, Senior Analyst at Omdia, commented: 'These are notable developments for the local video business. A potential game-changer could develop from the ongoing merger discussions between Tving and Wavve. If the deal proceeds, it could result in the formation of South Korea's largest domestic streaming service, severely narrowing the gap with Netflix and further reshaping the competitive landscape.' Coupang Play, operated by South Korea's e-commerce firm Coupang, is currently the third-largest streaming platform in the country. The service is available exclusively to subscribers of Coupang's premium Wow membership program. While its original content library remains smaller than Tving, Coupang Play has expanded its offering through securing major sports broadcasting rights, and through strategic content partnerships with Hollywood studios including Paramount and Warner Bros. Discovery. These agreements provide exclusive access to popular international titles from Paramount+, HBO, Max, and Warner Bros., differentiating Coupang Play from competitors that focus more heavily on domestic originals. Jun Wen Woo, Senior Analyst at Omdia, added: 'As the market continues to evolve, both global and local platforms are adapting their content and platform strategies to meet changing consumer expectations. While Netflix leads in terms of individual subscriber share, the collective momentum of domestic platforms, driven by strong local content, strategic investment, and platform innovation, positions them as key players in the future of South Korea's streaming ecosystem and increasingly, the global market.' ABOUT OMDIA Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions. View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
