Seoul, South Korea - On-demand video streaming platform Watcha strategically moved by integrating its services with KakaoTalk GIFT, allowing users to gift on-demand video passes for movies.
Why it matters:
With fierce competition in the market from Netflix, Coupang Play, Disney+, and Wavve, the startup needed to differentiate itself from the big players.
This development addresses a new facet of content consumption, offering consumers more than monthly subscriptions.
The Key Points
- The feature currently allows gifting of around 30 local and international films, such as "Concrete Utopia," "Unofficial Operation" and "The Moon." This aligns with Watcha's ongoing efforts to diversify its content offering.
- Last December, the company expanded its revenue model by launching the "Watcha Movie Theater," a pay-per-view platform focused on the latest movies. The move indicates a broader trend to diversify revenue streams and adapt to different forms of content consumption.
- The new integration allows gift subscribers to register within the Watcha app and access content on multiple devices, including TVs and mobile phones.
The Big Picture
Notably, this feature is available whether or not the user is a Watcha subscriber, increasing the flexibility and accessibility of the platform.
Watcha also offers the ability to gift a "lifetime certificate," providing an alternative to traditional movie gifting options.
This suggests extending customer engagement and potentially increasing customer lifetime value.
This development could serve as a differentiator for Watcha in a saturated market, giving it an edge over competitors.
As the feature is rolled out, tracking user engagement and revenue impact will be critical to evaluating the long-term effectiveness of this strategic move.