LG Electronics is contributing to the spread of K-content through the broadcasting viewing platform ‘LG Channel.’ LG Channel, its own free online video service (OTT), is expanding its channels, focusing on content favored by the MZ generation (millennials + generation Z).
For the first time in the industry, LG Electronics has collaborated with New ID, a digital content and platform affiliate of the domestic media group Next Entertainment World (NEW) since October last year, to provide LG channel services in four European countries, including France, Germany, Italy, and Spain. started to provide K content channels to
The main channels are YG TV of YG Entertainment, to which famous K-pop singers Blackpink, G-Dragon, WINNER, etc. are affiliated △The latest K-pop variety channel NEW K.ID △K-pop video platform Mubeat △ There are a total of eight K-food tracks, including Mukbang TV and Billiards TV, the world’s only 24-hour billiards relay channel.
As interest in K-pop continues to grow, especially in North America, LG Electronics is expanding the target countries that provide K-content channels on LG channels from four European countries to the US, Canada, Brazil, and Mexico.
This year, LG channel users and viewing time each quadrupled compared to last year. In particular, the number of users increased significantly in Europe and Latin America, where LG channel services were newly launched in the previous year. In the United States, which has the most significant number of LG channel users globally, it provides a replay service of over 2,000 movies and a total of 314 channels, including news channels of major broadcasters such as ABC News Live and Paramount Movie Channel.
At the beginning of this year, LG Electronics invested $80 million (about 87 billion won) in Alfonso, a TV advertisement and content data analysis start-up headquartered in Silicon Valley, USA, to advance the content business led by LG Channel. They invested 50%. I even got more than that. Founded in 2012, Alfonso has an independently developed artificial intelligence (AI) image analysis solution. It also has data on TV viewing of 15 million households in North America.
The purpose of this investment is to provide more customized services and content to LG TV viewers by utilizing Alfonso’s advertising and content analysis capabilities. In particular, as such segmentation and analysis of customer preferences and providing customized services can ultimately lead to leading customer trends, LG Electronics expects to generate revenue from content and create synergy in all business areas beyond TV.
The proportion of enjoying various contents simultaneously by connecting the TV to the Internet is also continuously increasing. As of last year, smart TVs accounted for more than 83% of all TVs shipped worldwide, and the proportion of intelligent TVs among LG TVs has already exceeded 90%.