Coupang Corp., South Korea’s top e-commerce player, is poised to launch music and video streaming content service business.

The company recently added the business area of online music and video streaming services in its profile, according to industry sources on Monday. It also has applied to register trademarks related to the business, including Coupang Streaming, Coupang Play, and Coupang TV.

Market watchers anticipate the e-commerce platform make official entry soon into the music streaming content market, as well as the over-the-top (OTT) media service segment, which involves providing streaming media service directly via the internet.

Although Coupang has not made any comment on embarking on a new venture, market experts believe its entry into the OTT market is just around the corner as the company acquired the software of Hooq Digital, a Southeast Asian video streaming service owned by Singaporean telco Singtel, in July.

Also, the company reportedly has been hiring media professionals.

Coupang appears to be making its way into becoming an online platform company beyond e-commerce by adding OTT service, said SK Securities in a report.

By Pulse

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