Australia Jobs Growth Strengthens Rate Hike Outlook 
Samsung Electronics Stock Surges on Report of Massive $59 Billion Share Buyback Plan 
Anthropic AI Model Uncovers Vulnerabilities in Classified U.S. Government Systems During Security Test 
Nomura Stock Upgraded to Buy by BofA as Stronger ROE and Earnings Growth Boost Outlook 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign 
Trip.com Shares Tumble After Q1 Profit Drops and Weak Revenue Growth Outlook 
Alphabet Replaces Verizon in Dow Jones Industrial Average 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Kioxia Targets U.S. Listing as AI Chip Boom Accelerates 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Ryan Cohen Rejects GameStop Pay Package, Prepares New eBay Acquisition Plan 
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices 
Doncasters Raises $919 Million in NYSE IPO as Aerospace Growth Accelerates 
Bayer Wins Major U.S. Supreme Court Roundup Lawsuit, Shares Surge 
HBO Max and Paramount Plus are entering the Korean market to offer video streaming services via local OTT players. The US-based streaming platforms will team up with South Korean distributors as they move to do business in the country.
According to The Korea Economic Daily, HBO Max and Paramount Plus will launch their services this year. The local Over The Top players will broadcast content from the two American subscription video-on-demand services that are facing rivalry with foreign OTTs such as Apple TV, Netflix, and Disney Plus.
It was reported that initially, HBO Max was planning to create its own platform in Korea like the other US-based OTT firms, but it later decided to just bring its content via partnerships with the local streaming platforms to serve as its local distributor.
An official in the entertainment industry said that HBO Max may have changed its strategy after seeing how Apple TV and Disney Plus are struggling to keep up with their Korean rivals; thus, it is also having a hard time in the local market. HBO and Paramount were also said to have considered the preference of the local viewers for local content and concluded it would be better to just team up with domestic OTTs than to compete with them.
At this time, HBO Max is already close to sealing a deal with Wavve for the distribution of its original content. Wavve is being operated by SK Telecom, the country’s leading mobile carrier. Prior to this deal, the Korean channel was already featuring HBO shows and series, and their contract may be extended ahead of its expiration in July.
“It is highly likely that we will become the Korean distributor of HBO Max’s original content, in addition to HBO's content,” an official at WAvve told KED.
As for Paramount Plus, it will be collaborating with TVing, the OTT arm of CJ ENM Co., for its content distribution. The unit of Paramount was formerly known as ViacomCBS and home to some popular show titles such as “Spongebob,” “Star Trek,” and “CSI.”
Finally, Yonhap News Agency reported that the series from Paramount Plus would start airing on TVing next month. This means that subscribers will now be able to access original and library content from Paramount Pictures and CBS.
Andrei Stan/Unsplash
