Streaming service Pandora TV to end its service next month

Pandora TV's website [SCREEN CAPTURE]

Local streaming service Pandora TV will end its service next month, the company said Sunday.

"We have decided to terminate our service on Jan. 31, 2023, as it has become difficult for us to continue our business due to years of deteriorating profitability," the company said in a notice uploaded Sunday on its website.

Users can download videos until Jan. 31 midnight. All user data will be discarded thereafter.

Founded in October 2004, Pandora TV was the No. 1 streaming service in Korea in terms of number of users until 2008 when YouTube entered the local market in January of that year.

The company has been failing to make profit in recent years due to the fast-changing media environment and intensifying competition in the market.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]