Samsung Electronics to nurture TV-based content business: Executive

Kim Yong-soo, VP of Samsung Electronics’ Visual Display Business, answers questions at the IFA 2024 press conference in Berlin. [Courtesy of Samsung Electronics Co.]

Samsung Electronics Co. plans to introduce its free advertising-supported streaming television (FAST) services in Southeast Asia next month, following its recent rollout in the Middle East, according to Kim Yong-soo, vice president of its visual display business.

The company aims to grow its TV-based content business by leveraging the success of its Tizen OS, which now powers 270 million smart TVs globally.

At the IFA 2024 trade show held in Berlin on Friday, Kim expressed confidence in the company’s competitive edge, saying that “FAST is now recognized as a viable alternative to paid TV services.”

He added that Samsung intends to lead the growing market for ad-supported streaming.

Samsung Electronics’ FAST platform, Samsung TV Plus, operates in 27 countries, offering over 3,000 channels and more than 50,000 video-on-demand (VOD) titles.

Kim noted that last year, cumulative viewing hours reached 5 billion and are projected to surpass 10 billion next year.

In 2021, Samsung TV Plus surpassed 1 trillion won ($743.7 million) in revenue for the first time. The platform features not only popular Korean content but also global shows like the Conan O’Brien talk show.

“We plan to enhance personalized recommendation services using AI to analyze user data,” Kim said.

Samsung has already begun offering its FAST service in Egypt, Saudi Arabia, and the United Arab Emirates as of June, and will introduce it to Singapore, Thailand, and the Philippines starting next month.

The expansion marks a continued push to broaden its presence in international markets.

In addition to content, Samsung is emphasizing AI-driven personalized recommendations and improved security features.

Meanwhile, Samsung’s 2024 lineup of Neo QLED 8K TVs received the Picture Quality Excellence Certification from Germany’s VDE, an industry-leading testing and certification body. Seven models earned recognition for their HDR brightness accuracy and True Cinema Black performance.