On the mention of South Korea, the picture that paints in front of the eyes are the famous bands like BTS and the high grossing Korean dramas aka K-Dramas. However, the country has many other interesting factors apart from its dashing ‘oppas’ (the Korean word for my beloved, who is a man). For example, the recent surge of OTT Platforms in the Country.
OTT and South Korea
It is without a doubt that Over the Top or OTT media services have taken the world by storm. Without the need for any broadcaster, cables, or even satellite TV, a user can access top-grade media just with a mobile device and internet. This rise of OTT popularity has its roots with the advent of smartphones.
It can be claimed without a doubt that these smartphones have successfully surpassed television, both in terms of entertainment as well as news. In a survey, conducted by the Korean Communication Commissions, smartphones were considered as “the most necessary medium” from its previous status of “a necessary medium”.
OTT in South Korean Sports Broadcasting
Sports broadcast in South Korea is traditionally done by various media broadcasting giants like SBS, KBC, MBC, 먹튀폴리스 etc. However, as more and more OTT platforms are sweeping into the arena, the viewership is going in a steady decline.
The main reasons for the popularity of OTT Platforms over traditional broadcasting are:
- No dependency on cables, just an internet connection, and a smart device
- The content is fresh and devoid of censorship
- Ad-free experience
- The audience more engaged
- Data Transparency is better
- One can enjoy the OTT content at any time and anywhere at their convenience.
Over recent years, the conventional broadcasters have incurred losses to the OTT Platforms quite a lot. For example, the profit margin of major media houses like KBS, MBC, SBS, etc. are negatives within the span of 2007 to 2014.
As OTT platforms are taking over the Sports and News section slowly, the traditional giants are gradually merging with these OTT Platforms as well to keep their businesses smoothly running. Since these platforms have a subscription, so worries about sponsors are reduced largely.
However, as these platforms are not essentially regulated by the government, there is a high chance of illegal sports gambling. Sports betting can be easily done since the content is available worldwide. Bookies could even tamper with a match’s outcome. The South Korean government has some strict laws with regards to sports betting and gambling but illicit bookies often utilize legal loopholes to get out unscathed.
Concern on illegal gambling
Despite the government’s proactive measures, illegal gambling activities are still rampant. Such activities can only be tackled with the dual action of the government and citizens, where the laws must be abided dutifully without breaking them. The government is investing both time and effort to curb illegal sports betting for a successful endeavor so that the nation can thrive economically as well as socially.
