Two of South Korea’s major media outlets have announced their collaboration with token-based video delivery network, Theta, who enable users to earn tokens by re-streaming video via excess bandwidth on any device.
Theta featured in Maeil Business Newspaper (MBN), the largest business newspaper in Korea! Coming soon – MBN’s integration of Theta to deliver their online video content at https://t.co/narDlN7nSC pic.twitter.com/rzNMH2S6Cb
— Theta Network (Not giving away ETH/BTC) (@ThetaToken) September 20, 2018
Eye-catching results from Theta’s testnet launch with Sliver TV lead to a division of Maekyung Media Group, Maeil Broadcasting Network (MBN) and CJ Hello, a subsidiary of Korean conglomerate CJ Group, partnering with the blockchain company in order to “…deepen media engagement and power revenue growth.”
NEW BUSINESS ANGLE
Broadcasters who deploy Theta on their media platforms can create new business models to generate more interaction with viewers at deeper levels of engagement.
The Maekyung Media Group have published South Korea’s leading daily business newspaper since 1966 and ventured into broadcasting as an official news channel with MBN in 1995. Eight years ago they were granted the license which enabled MBN to not only broadcast the news but also show other genres including soap operas and entertainment variety shows.
Mr Ryu Ho-Gil, CEO of MBN, said they are looking to Theta to be their “…media blockchain partner to build a decentralised video delivery network” and added they want “…to achieve three key business goals, deepen user engagement and session times across our platform, reduce content delivery costs and drive increased market share.”
CJ Hello is a Multi System Operator (MSO) that offers a TV subscription service to viewers as well as being an Internet Service Provider (ISP). It currently provides a video service with over 240 channels, over 150,000 movies and TV shows on demand, as well as various interactive services such as X-game, Karaoke and TV shopping.
Yooshim (Karen) Huh, Senior Vice President of CJ Hello believes that “Theta’s new blockchain model provides a valuable weapon to stand out and encourage users to spend more time with content we’re already delivering, from hit TV shows to K-pop. With a focus on powering mobile and OTT solutions, Theta promises to be a core part of our long-term growth strategy.”
Mitch Liu, co-founder and CEO of Theta Labs commenting on the partnerships said “These partnerships are like announcing deals with Comcast and Turner Media at the same time and mark a major step toward taking blockchain technology to the mainstream and invent the future of media.”