LG U+ introduces 'The Kids World' subscription-based streaming app
LG U+, Korea’s third largest telecom company, introduced what it calls its “kid’s Netflix,” Thursday.
Named “The Kids World,” the subscription-based video streaming app is a revamped version of LG U+’s previous IPTV-based kid content service.
The company is looking to reel in a million subscribers by 2027, 40 percent of them from abroad.
“Until now, our kid content service has been provided only to LG U+ users,” said Park Jong-wook, head of the LG U+ kid content division, during a press conference held Thursday at the company’s headquarters building in Yongsan District, central Seoul.
“But we wanted our service to reach a wider public, and therefore decided to introduce this subscription-based service for everyone.”
Streaming is different from IPTV, or internet protocol television, as the former uses a regular internet connection while the latter is provided through a dedicated network.
With a monthly subscription fee of 25,000 won ($18), The Kids World app has some 50,000 videos and interactive e-books. LG U+ said that the app will provide development and personality evaluation services for children and personalized content recommendations as well.
The company also worked with Disney and English Hunt, a local English education company, to develop English learning content based on Disney songs.
LG U+ hopes to take The Kids World app global in 2025, with a focus on the Southeast Asian market.
The new service arrived two months after LG U+ outlined its plan to stretch its portfolio away from the traditional telecom sector, where growth has been slowing.
On Sept. 15, LG U+ announced its new business strategy, including a new kid and education content service, which it called a “kid’s Netflix."
LG U+ hopes to boost the non-telecom proportion of its revenues from last year’s 20 percent to 40 percent by 2027.
BY SHIN HA-NEE [email@example.com]