Get ready to witness a massive shift in the world of Korean game streaming platform! Naver is setting the stage to redefine entertainment, stepping into the spotlight as Twitch takes its final bow in Korea. As we dive into this thrilling new chapter, join us in uncovering how Naver’s innovative Korean streaming platform captivates audiences and gamers. The Korean company is making more than just a streaming service but a revolution in digital entertainment.
Naver Reshapes the Korean Game Streaming Industry with a New Service Platform
Naver, a prominent technology giant in South Korea, has recently launched a test phase for its new game streaming service. The company started a Closed Beta Test (CBT) for its employees, with plans for a public beta starting on December 19. This initiative, named “CHZZK” marks a significant step in the company’s expansion into new digital territories.
Furthermore, to fine-tune their service, Naver held an internal gaming competition, broadcasting games such as StarCraft and League of Legends (LoL). This event, running until last Friday, allows Naver to demonstrate and improve its streaming technology.
Moreover, employees at Naver’s headquarters have exclusive access to this beta phase through a secure internal link.
Twitch Ends Its Service in the Korean Game Streaming Platform Industry Due to “Netflix Law”
The revolutionary move from Naver began after Twitch, a major player in the industry, announced its exit from the Korean market.
By February 27, 2024, Twitch is ending its Korean streaming service due to high operational costs and unfavorable business conditions. Despite efforts to reduce expenses, Twitch’s operating costs in Korea, especially network fees, have remained high.
Twitch’s CEO, Dan Clancy, stated that the costs of running Twitch in Korea are prohibitively high, with network fees being significantly more expensive than in other countries.
Apparently, Twitch had to make such a difficult decision after South Korea launched its “Netflix Law”. Therefore, this new rule demands significant network usage fees for online content providers with high traffic, affecting local and international platforms. Not only that, but it also requires ISPs and content providers to share the responsibility for service stability. As a result, it is difficult for Twitch to maintain sufficient service in the Korean game streaming platform industry.
“Ultimately, the cost to operate Twitch in Korea is prohibitively expensive, and we have spent significant effort working to reduce these costs to find a way for the Twitch business to remain in Korea.
Still, Twitch has been operating in Korea at a significant loss, and unfortunately, there is no pathway forward for our business to run more sustainably in that country.
We want to clarify that this is a unique situation for our global communities. Operating costs in Korea are significantly higher than in other countries, and we have been open about this challenge for some time.”
– Twitch’s CEO, Dan Clancy.
Naver’s New Streaming Platform: A New Supremacy in the Korean Gaming Industry!
Finally, Twitch also mentioned that it would assist Korean streamers in transitioning to other streaming platforms in the region. And while fans believed Korean streamers would switch to YouTube or AfreecaTV, Naver steps in to save the day!
Naver’s service offers impressive features like Full HD 1080P streaming, a user-friendly interface, interactive community elements, sponsorship opportunities, and Video on Demand (VOD) replay options. These features also aim to elevate the experiences of both gamers and viewers.
As Naver steps up to fill the gap left by Twitch, it represents a significant shift in the digital entertainment landscape in South Korea. This development underscores the dynamic nature of the tech industry, where changes in one part of the world can have ripple effects elsewhere.
Top 5 Leading Products and Services by Naver
So, while we’re waiting for Naver’s upcoming game streaming platform, check out the Korean company’s top 5 exceptional products and services.
1. Naver Search Engine
Firstly, we have Naver’s flagship product, a top-rated search engine in South Korea. It is the Korean equivalent of Google that has showcased extreme dominance in the local market.
2. LINE
Secondly, Naver’s #1 social chatting platform LINE, has gained extensive use in several Asian countries, particularly in Japan. It offers messaging, voice and video calls, and has numerous features like LINE Pay for payments and LINE TV for streaming content.
It also offers adorable merchandise featuring its characters, LINE FRIENDS, which you can easily purchase via Amazon.
3. Naver Webtoon
Thirdly, one of the most fascinating products from Naver is its platform for digital comics, Naver Webtoon. Known internationally as WEBTOON, this digital comic platform is hugely popular for its wide range of webcomics, attracting creators and readers globally.
4. V LIVE
Meanwhile, we have the must-have app for Kpop fans, the V LIVE. It is a Korean streaming platform where Kpop artists broadcast live videos, engage with fans, and post updates. Recently, Naver decided to merge this platform with Weverse.
5. Naver Papago
The last leading service by Korean company Naver is its amazing AI-based translation app, Papago. This app supports multiple languages, popular for its effectiveness in East Asian language translations.
Source: KoreaTechToday.
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