KT has rolled out its strategy to bolster its media business, KT Media New Way, pledging a 500 billion won ($350.2 million) investment to 2026 as it seeks a breakthrough in a struggling media industry landscape. “The entire value chain of content production is being rapidly restructured, revolving around global streaming services,” Kim Chae-hee, executive vice president of KT Media Group, said during a press conference in Gangnam District, Seoul, Wednesday. “Our media division was founded (late last year) with the purpose of making the media business one of KT Group’s three major portfolios. As simply following past success strategies has clear limitations, we believe we must find a new path unique to KT Media.” The new strategic plan includes three pillars: implementing an artificial intelligence (AI) agent in its media platform, using AI technology in the overall production of its original content and revamping its IPTV service to adopt a new business model. The company will be implementing an AI agent, which it developed in collaboration with Microsoft, on its IPTV platform Genie TV starting in the first half of the year. The GPT-4o-based large language model was developed for Korean users and its language, which will allow the platform to provide improved and concise service. The executive noted that the AI agent will be implemented company-wide gradually, starting with its cable service subsidiary HCN. The company has founded AI Studio Lab and will be applying AI technologies in the overall process of its content business, from reviewing investments, developing stories, making productions and editing to marketing and distributing. “Content is, above all else, one of the most important values for customers’ experience. So, creating a sustainable structure to continuously produce and supply competitive content is an important challenge,” the executive said. “(Through AI), first, we aim to bring efficiency to the content production value chain. And second, as there are still shortcomings of our IP, we are striving to strengthen its competitiveness.” The company also said that it will be applying AI technology to develop new business models such as free ad-supported streaming TV (FAST) and short form content, expanding from its long form TV series. She explained the company's reasons for pivoting from its IPTV business to expand platforms for original content. “As channels have a structural limitation that cannot keep up with the personalized consumption patterns of viewers, we’re facing a situation where paid subscriptions are declining, and advertisement revenue is decreasing." The company plans to leverage its hit original series to expand its short-form content business using AI technology. A recent example is the AI-generated social media clips from Season 3 of its popular show “New Recruit." “Implementing AI for long-form content like movies and dramas will take some time. However, the short form requires extreme efficiency for mobile-based viewing with very small production budgets and short production periods. So, we believe there is a greater opportunity to more boldly apply AI technology throughout the short-form production process,” said Jung Keun-wook, CEO of KT Studio Genie. (ICE SEOUL)

Fonte notizia: The Korea Times