Coupang, the largest E-commerce company in Korea, introduced its new video streaming app “Coupang Play” on Thursday, which led the company to join a highly competitive industry led by Netflix. Currently, the Coupang Play App is available only on Google Play. However, Coupang stated that the service would become available on the iPhone and desktop in the future.
The subscription on Coupang Play costs 2,900 won ($2.60) per month along with free content. The streaming app also allows up to five people to sign up under one account and still enjoy the service.
Providing Original Content
Additionally, Coupang explores the future possibilities of providing original content and a live broadcast of popular sports games. The company sets its goals through negotiations with the National Basketball Association (NBA) and Major League Baseball (MLB) to secure exclusive air rights to their games in Korea.
The streaming app would offer television series, movies, and other entertainment content. The Coupang Play app includes the U.S. television series “Your Honor” and the educational news channel “CNN10.”
The company acquired the once top Singaporean OTT service, “HOOQ,” last July and recently applied for its trademark rights. Coupang submitted the names “Coupang Streaming” and “Coupang Play” for trademark rights and registered an online business for streaming music and videos.
More local e-commerce firms also started offering original content.
The company spokesperson stated that Coupang would offer unique and varied services to bring excitement and entertainment to the customers.
Coupang would contend with local video streaming apps such as Wavve and Watcha Play, including the international player, Netflix. It would also compete alongside Disney+ since it would launch in Korea by next year.
Moreover, Coupang’s foremost local rival, Ticket Monster (TMON), already began its “live commerce” service, which consumers could watch on mobile phones. TMON introduces products on shows and enables customers to inquire, chat, and interact with the show hosts through its platform.
