Wavve
Overview
Wavve (웨이브) is a comprehensive South Korean OTT (Over-The-Top) service established through a joint venture between KT and the three major terrestrial broadcasters (SBS, KBS, MBC). Officially launched on September 18, 2019, Wavve is a platform that integrated the existing 'POOQ' (푹) and 'KT Olleh TV Mobile', providing real-time TV channels, broadcast replays, original content, movies, and international series. It aims to deliver a differentiated user experience by combining KT's 5G and AI technologies, and as of 2024, it has established itself as a major competitor in the domestic OTT market alongside Netflix, Tving, and Coupang Play.
Main Content
Service Structure and Features
Wavve operates on three main pillars: real-time channels, VOD (Video on Demand), and original content. Real-time channels offer over 200 channels, including the three major terrestrial broadcasters (KBS, MBC, SBS) and major general service and cable channels such as JTBC and tvN. VOD allows immediate replays after broadcast, and movies encompass both the latest domestic and international releases and classic films. Notably, Wavve is linked to KT's IPTV service 'Olleh TV', enabling subscribers to enjoy 'cross-device' viewing across mobile and TV.
Original Content
Wavve actively invests in its own original series and entertainment shows. Representative works include 'Double Patty' (2021), 'The Bait' (미끼, 2023), and 'The Worst of Evil' (최악의 악, 2023). In 2024, it strengthened its genre offerings with titles like 'Kang Mae Kang' (강매강) and 'A Killer Paradox' (살인자ㅇ난감). Entertainment shows such as 'Bloody Game' (피의 게임) and the 'Single's Inferno' (솔로지옥) series have also gained significant popularity, targeting the MZ generation. Original content serves as a differentiator from Netflix, with Wavve emphasizing storytelling that aligns with Korean sensibilities through collaboration with terrestrial broadcast production teams.
Pricing and User Status
Wavve's pricing plans consist of Basic (KRW 7,900/month, HD, 1 screen), Standard (KRW 10,900/month, FHD, 2 screens), and Premium (KRW 13,900/month, UHD, 4 screens). KT mobile customers receive a 'Super DC' discount, allowing usage at up to 50% lower cost. As of Q3 2024, Wavve's paid subscribers are estimated at approximately 4.2 million, with monthly active users (MAU) around 6 million. This falls short of Netflix (approximately 12 million) but is comparable to Tving (approximately 5 million).
Technological Differentiation
Wavve leverages KT's AI technology to enhance its personalized recommendation system. It analyzes viewing history, search patterns, and time-based preferences to suggest tailored content, and introduced an AI-based 'scene search' feature in 2024. Additionally, it provides ultra-high-definition streaming and low-latency live services utilizing 5G networks, ensuring stable service operation through KT's cloud infrastructure.
Competitive Landscape
In the domestic OTT market, Netflix maintains the top position, while Tving (CJ ENM), Coupang Play (Coupang), and Disney+ (Walt Disney) engage in fierce competition. Wavve's strengths lie in its exclusive supply of terrestrial broadcast content and telecom bundling marketing. On the other hand, its original content has weaker global influence compared to Netflix, and it faces challenges in securing licenses for international series, which are noted as weaknesses.
Recent Developments
Since the second half of 2024, Wavve has focused on advancing AI technology and global expansion. In January 2025, Wavve launched 'AI Curation 2.0' utilizing KT's hyperscale AI 'Mid-eum' (믿음), introducing a recommendation system that even analyzes user emotions. In December 2024, it signed a content exchange agreement with Japanese OTT service 'U-NEXT', initiating cross-licensing to supply Korean dramas and entertainment to Japan and introduce Japanese animation domestically. In February 2025, Wavve announced a 30% expansion of its 'Wavve Original' lineup compared to 2024, confirming the production of sequels such as 'Double Patty 2' and 'The Worst of Evil Season 2'. Meanwhile, KT announced plans to pursue an initial public offering (IPO) for Wavve in the first half of 2025, which is expected to cause a paradigm shift in the OTT industry. Additionally, in accordance with the 'OTT User Protection Act' implemented at the end of 2024, Wavve has strengthened content rating displays and revised its terms of service.
Related Topics
- [[OTT service]]
- [[KT]]
- [[Netflix]]
- [[Tving]]
- [[AI recommendation system]]