Coupang launches new video streaming service
E-commerce company Coupang launched a video streaming app on Thursday, jumping into an increasingly competitive market led by Netflix.
The Coupang Play app is currently only available on Google Play, but Coupang also said the service will become available on iPhone and also on desktop at an unspecified future date.
Content on Coupang Play is free, but requires a membership which costs 2,900 won ($2.60) per month.
Up to five people can sign up under one account.
The streaming app offers movies, television series and other entertainment content. Coupang did not reveal the amount of content that is currently available, but said it currently includes the U.S. television series “Your Honor” and educational news channel “CNN10.”
In July, Coupang acquired the Singapore-based streaming service provider Hooq for the streaming app.
“Coupang will try to provide differentiated services, like Coupang Play’s original services, to make customers’ lives more convenient and entertaining,” a spokesperson for Coupang said in a statement.
Coupang will have to face competition in the market, including Netflix and smaller local video streaming apps Wavve and Watcha Play. It will also compete against Disney+, which has announced it will launch services in Korea next year.
BY JIN MIN-JI [firstname.lastname@example.org]