Tving x Wave, Is the Major OTT Merger Delayed Again?

It seems that the integration of Tving and Wave will be delayed once again.

According to a report by the Korea Economic Daily on November 17, Tving and Wave appear to be unable to narrow their differences in positions during the merger discussions. Although they announced a unified service by 2025 and even sold double subscriptions, this report suggests that it is difficult to ensure the integration within the year.

Tving is an OTT platform operated mainly by CJ ENM, while Wave is centered around SK Square, forming a so-called 'broadcast alliance'. They aimed to turn the tide against the strong presence of foreign OTT platforms by integrating the two domestic OTT platforms, but as the merger continues to be postponed, overall subscriber interest is declining. Especially, with SBS announcing a partnership with Netflix starting in 2025, the urgency for the two platforms to integrate has increased, yet they are going through a sluggish process.

Tving has been in service since 2010, and Wave has been operating since 2019. The merger and integrated operation of the two platforms have been raised since the end of 2023.