Theta ICO, the token based video delivery network, announced its collaboration with the biggest media outlets in South Korea – MBN & CJ Hello that will enable users to earn tokens by re-streaming video via excess bandwidth on their devices.
It is expected that the new business model will generate more interactions: as stated in the official press release, the goal of the collaboration is to “deepen video engagement and power revenue growth.”
Senior Vice President of CJ Hello, Yooshim (Karen) Huh said,
“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.”
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.”
South Korea’s Biggest Media Broadcasters
MBN is a division of Maekyung Media Group, a media company that owns some of the high-authority brand names in communications and broadcasting in the country.
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.
CJ Hello is a subsidiary of the $24 Korean conglomerate CJ group. CJ Hello is one of South Korea’s biggest cable TV operators and mobile providers. It 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.